Xinya Electronic Correlations

Stocks . China . 
Stock . Xinya Electronic Co
605277 Stock   15.50  0.62  4.17%   
The current 90-days correlation between Xinya Electronic and G bits Network Technology is 0.64 (i.e., Poor diversification). The correlation of Xinya Electronic 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.

Xinya Electronic Correlation With Market

Significant diversification

The correlation between Xinya Electronic Co and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xinya Electronic Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Xinya Electronic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Xinya Electronic 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 Xinya Electronic - 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 Xinya Electronic Co to buy it.

Moving together with Xinya Stock

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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   
688169
- 0.07
300750

Risk-Adjusted Indicators

There is a big difference between Xinya Stock performing well and Xinya Electronic 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 Xinya Electronic'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 Xinya Electronic 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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