Guangdong Liantai Correlations

Stocks . China . 
Stock . Guangdong Liantai Environmental
603797 Stock   4.30  0.16  3.86%   
The current 90-days correlation between Guangdong Liantai and Jinhe Biotechnology Co is 0.77 (i.e., Poor diversification). The correlation of Guangdong Liantai 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.

Guangdong Liantai Correlation With Market

Significant diversification

The correlation between Guangdong Liantai Environmenta and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Liantai Environmenta and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Guangdong Liantai could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guangdong Liantai 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 Guangdong Liantai - 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 Guangdong Liantai Environmental to buy it.

Moving together with Guangdong Stock

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  0.83002217 Holitech TechnologyPairCorr
  0.96000980 Zotye AutomobilePairCorr
  0.97600742 Changchun Faway AutoPairCorr
  0.89900957 Shanghai Lingyun IndPairCorr
  0.91002236 Zhejiang Dahua TechnologyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guangdong Stock performing well and Guangdong Liantai 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 Guangdong Liantai'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guangdong Liantai 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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