Jinhui Liquor Correlations

603919 Stock

21.29 0.21 0.98%

The current 90-days correlation between Jinhui Liquor and Industrial and Commercial is 0.09 (i.e., Significant diversification). The correlation of Jinhui Liquor 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.

Jinhui Liquor Correlation With Market

Average diversification

The correlation between Jinhui Liquor Co and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jinhui Liquor Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jinhui Stock

0.85	200468	Nanjing Putian Telec	Pair Corr
0.91	300391	Kangyue Technology	Pair Corr
0.91	600322	Tianjin Realty Devel	Pair Corr
0.89	000692	Shenyang Huitian Thermal	Pair Corr
0.84	300301	Shenzhen Changfang Light	Pair Corr
0.84	300013	Jiangsu Xinning Modern	Pair Corr

Related Correlations Analysis

	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998
601398		0.93	0.96	0.83	0.8	0.96	0.46	0.65	0.68	0.86	601398
601288	0.93		0.94	0.76	0.84	0.89	0.49	0.66	0.73	0.83	601288
601939	0.96	0.94		0.8	0.91	0.88	0.65	0.81	0.81	0.92	601939
601988	0.83	0.76	0.8		0.68	0.83	0.37	0.54	0.59	0.74	601988
601658	0.8	0.84	0.91	0.68		0.67	0.85	0.94	0.95	0.93	601658
601328	0.96	0.89	0.88	0.83	0.67		0.27	0.49	0.54	0.76	601328
601318	0.46	0.49	0.65	0.37	0.85	0.27		0.97	0.92	0.79	601318
600036	0.65	0.66	0.81	0.54	0.94	0.49	0.97		0.96	0.89	600036
601166	0.68	0.73	0.81	0.59	0.95	0.54	0.92	0.96		0.9	601166
601998	0.86	0.83	0.92	0.74	0.93	0.76	0.79	0.89	0.9		601998
	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998

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Risk-Adjusted Indicators

There is a big difference between Jinhui Stock performing well and Jinhui Liquor 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 Jinhui Liquor'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
601398	1.18	(0.08)	0.00	(0.65)	0.00	0.00	2.83	(3.06)	8.14
601288	1.26	(0.03)	0.00	(0.45)	0.00	0.00	3.21	(3.89)	8.24
601939	1.27	(0.06)	0.00	(0.48)	0.00	0.00	3.32	(3.86)	8.64
601988	1.19	0.06	(0.06)	(0.07)	1.48	(1.44)	2.67	(2.86)	7.70
601658	1.43	0.06	(0.02)	0.44	1.77	(1.61)	3.49	(2.84)	9.13
601328	1.38	(0.15)	0.00	(2.09)	0.00	0.00	3.26	(3.60)	10.82
601318	1.85	0.36	0.13	0.85	1.84	(2.27)	5.83	(2.83)	19.77
600036	1.52	0.15	0.02	3.59	1.81	(1.78)	4.65	(2.56)	13.83
601166	1.43	0.10	0.01	0.50	1.61	(1.61)	3.84	(2.56)	12.07
601998	1.53	0.04	(0.03)	(2.10)	2.08	(1.63)	3.02	(3.06)	13.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jinhui Liquor 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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