Zhuzhou Kibing Correlations

Stocks . China . 
Stock . Zhuzhou Kibing Group
601636 Stock   5.98  0.03  0.50%   
The current 90-days correlation between Zhuzhou Kibing Group and G bits Network Technology is 0.56 (i.e., Very weak diversification). The correlation of Zhuzhou Kibing is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Zhuzhou Kibing Correlation With Market

Good diversification

The correlation between Zhuzhou Kibing Group and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhuzhou Kibing Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Zhuzhou Kibing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhuzhou Kibing when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Zhuzhou Kibing - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Zhuzhou Kibing Group to buy it.

Moving together with Zhuzhou Stock

  0.79600519 Kweichow MoutaiPairCorr
  0.77300760 Shenzhen Mindray BioPairCorr
  0.88603688 Jiangsu Pacific QuartzPairCorr
  0.62688036 Shenzhen TranssionPairCorr
  0.87000568 Luzhou Lao JiaoPairCorr
  0.81300750 Contemporary AmperexPairCorr
  0.9000858 Wuliangye YibinPairCorr
  0.67300825 Iat Automobile TechnologyPairCorr
  0.65301390 Hangzhou Gisway InfoPairCorr
  0.86002074 Gotion High techPairCorr
  0.88300433 Lens TechnologyPairCorr
  0.82300608 SI TECH InformationPairCorr
  0.78688507 Shanghai Suochen InfPairCorr
  0.93000761 Bengang Steel PlatesPairCorr
  0.77688325 Guangdong CellwisePairCorr
  0.87600633 Zhejiang Daily MediaPairCorr
  0.62605377 Hangzhou Huawang NewPairCorr
  0.87600498 Fiberhome TelecommunicatioPairCorr
  0.84688119 Sinosteel Luonai MatPairCorr
  0.87301379 Techshine ElectronicsPairCorr
  0.66002946 New Hope DairyPairCorr
  0.86000661 Changchun High NewPairCorr
  0.69600755 Xiamen ITG GroupPairCorr
  0.64600515 Hainan HNA InfrastructurePairCorr
  0.81002847 Yankershop FoodPairCorr
  0.74600455 ButOne Information CorpPairCorr
  0.76600719 Dalian Thermal PowerPairCorr
  0.66601929 JiShi MediaPairCorr
  0.74002893 Beijing HuaYuanYiTongPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
000596
+ 0.95
200596
000596
+ 0.92
600519
300760
+ 0.92
000596
300760
+ 0.91
002594
200596
+ 0.9
600519
300760
+ 0.9
600519
  
High negative correlations   
002371
- 0.21
688169
688169
- 0.07
300750

Risk-Adjusted Indicators

There is a big difference between Zhuzhou Stock performing well and Zhuzhou Kibing Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Zhuzhou Kibing's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
600519  1.71  0.17  0.07  0.61  1.81 
(2.11)
 6.55 
(2.98)
 16.71 
300750  2.77  0.60  0.16 (2.47) 3.05 
(3.23)
 7.94 
(3.41)
 33.42 
603444  2.60  0.23  0.06 (1.22) 3.30 
(2.69)
 5.75 
(4.79)
 18.75 
002594  1.77  0.14  0.05  1.40  2.01 
(1.92)
 5.33 
(2.93)
 14.84 
688169  3.04 (0.04) 0.00  0.87  0.00 
 0.00 
 5.74 
(5.72)
 34.80 
200596  1.83  0.25  0.10  2.78  2.14 
(2.14)
 4.80 
(2.38)
 18.31 
000596  2.74  0.27  0.08  0.49  2.92 
(3.08)
 9.98 
(4.49)
 20.00 
002371  2.46  0.53  0.19  1.47  2.18 
(2.72)
 9.80 
(3.99)
 15.93 
300760  2.16  0.12  0.04 (0.98) 2.51 
(2.58)
 4.81 
(3.75)
 19.76 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zhuzhou Kibing without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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