Zhangjiagang Elegant Correlations

603221 Stock

10.35 0.67 6.08%

The current 90-days correlation between Zhangjiagang Elegant Home and China State Construction is 0.5 (i.e., Very weak diversification). The correlation of Zhangjiagang Elegant 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.

Zhangjiagang Elegant Correlation With Market

Good diversification

The correlation between Zhangjiagang Elegant Home and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhangjiagang Elegant Home and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Zhangjiagang Elegant could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhangjiagang Elegant 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 Zhangjiagang Elegant - 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 Zhangjiagang Elegant Home to buy it.

Moving together with Zhangjiagang Stock

0.79	601398	Industrial and Commercial	Pair Corr
0.71	601288	Agricultural Bank	Pair Corr
0.8	601939	China Construction Bank	Pair Corr
0.77	601988	Bank of China	Pair Corr
0.79	601658	Postal Savings Bank	Pair Corr
0.73	601328	Bank of Communications	Pair Corr
0.72	601318	Ping An Insurance	Pair Corr
0.77	600036	China Merchants Bank	Pair Corr
0.67	601166	Industrial Bank	Pair Corr
0.82	601998	China Citic Bank	Pair Corr
0.92	603709	Zoy Home Furnishing	Pair Corr
0.84	600666	Aurora Optoelectronics	Pair Corr
0.72	002410	Glodon Software	Pair Corr
0.73	002459	JA Solar Technology	Pair Corr
0.77	600522	Jiangsu Zhongtian	Pair Corr
0.79	688507	Shanghai Suochen Inf	Pair Corr
0.72	002371	NAURA Technology	Pair Corr
0.82	600030	CITIC Securities	Pair Corr
0.9	601568	Shaanxi Beiyuan Chemical	Pair Corr
0.89	603818	Qumei Furniture Group	Pair Corr

Related Correlations Analysis

	601668	600048	000002	001979	600325	600519	300750	600340
601668		0.96	0.95	0.86	0.96	0.87	0.86	0.49	601668
600048	0.96		0.98	0.92	0.99	0.85	0.81	0.48	600048
000002	0.95	0.98		0.88	0.97	0.89	0.81	0.39	000002
001979	0.86	0.92	0.88		0.93	0.81	0.83	0.66	001979
600325	0.96	0.99	0.97	0.93		0.89	0.84	0.5	600325
600519	0.87	0.85	0.89	0.81	0.89		0.82	0.42	600519
300750	0.86	0.81	0.81	0.83	0.84	0.82		0.73	300750
600340	0.49	0.48	0.39	0.66	0.5	0.42	0.73		600340
	601668	600048	000002	001979	600325	600519	300750	600340

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Risk-Adjusted Indicators

There is a big difference between Zhangjiagang Stock performing well and Zhangjiagang Elegant 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 Zhangjiagang Elegant'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
601668	1.93	0.25	0.08	0.74	2.32	(2.15)	5.25	(3.67)	15.78
600048	2.17	0.35	0.09	4.09	3.01	(2.34)	5.27	(3.62)	20.02
000002	2.35	0.42	0.11	(1.18)	2.69	(2.60)	8.70	(3.22)	20.01
001979	2.39	0.29	0.08	1.29	2.83	(2.41)	4.99	(3.86)	19.96
600325	1.98	0.23	0.06	1.93	2.71	(2.11)	3.81	(3.24)	20.03
600519	1.69	0.17	0.06	0.48	1.80	(1.97)	6.55	(2.98)	16.71
300750	2.78	0.68	0.17	(3.53)	3.07	(3.22)	7.94	(3.41)	33.42
600340	5.38	1.94	0.28	(2.92)	4.70	(6.55)	10.14	(9.82)	20.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zhangjiagang Elegant 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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