Eyebright Medical Correlations

688050 Stock

90.61 1.90 2.05%

The current 90-days correlation between Eyebright Medical and Great Sun Foods Co is 0.5 (i.e., Very weak diversification). The correlation of Eyebright Medical 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.

Eyebright Medical Correlation With Market

Average diversification

The correlation between Eyebright Medical Technology and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eyebright Medical Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Eyebright Stock

0.89	601318	Ping An Insurance	Pair Corr
0.8	600036	China Merchants Bank	Pair Corr
0.69	601166	Industrial Bank	Pair Corr
0.65	688047	Loongson Technology Corp	Pair Corr
0.86	000661	Changchun High New	Pair Corr
0.89	601059	Cinda Securities	Pair Corr
0.78	000761	Bengang Steel Plates	Pair Corr
0.8	000560	5I5j Holding Group	Pair Corr
0.7	002152	GRG Banking Equipment	Pair Corr
0.73	300894	Marssenger Kitchenware	Pair Corr
0.67	600335	Sinomach Automobile	Pair Corr
0.73	300815	Eit Environmental	Pair Corr
0.7	688325	Guangdong Cellwise	Pair Corr

Related Correlations Analysis

	603336	002313	002446	600368	605300	603697	601698	603057
603336		0.87	0.92	0.49	0.63	0.8	0.74	0.57	603336
002313	0.87		0.83	0.69	0.71	0.78	0.71	0.66	002313
002446	0.92	0.83		0.51	0.7	0.82	0.84	0.71	002446
600368	0.49	0.69	0.51		0.55	0.63	0.55	0.62	600368
605300	0.63	0.71	0.7	0.55		0.77	0.7	0.81	605300
603697	0.8	0.78	0.82	0.63	0.77		0.87	0.73	603697
601698	0.74	0.71	0.84	0.55	0.7	0.87		0.71	601698
603057	0.57	0.66	0.71	0.62	0.81	0.73	0.71		603057
	603336	002313	002446	600368	605300	603697	601698	603057

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Risk-Adjusted Indicators

There is a big difference between Eyebright Stock performing well and Eyebright Medical 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 Eyebright Medical'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
603336	3.21	0.60	0.15	1.05	3.63	(3.56)	8.72	(6.29)	19.60
002313	3.63	0.67	0.14	2.68	3.93	(4.17)	10.01	(8.47)	20.09
002446	2.49	0.44	0.12	30.29	3.01	(2.72)	5.22	(5.72)	18.81
600368	2.03	0.87	0.29	16.86	2.07	(2.35)	6.93	(2.32)	18.97
605300	2.75	0.44	0.13	0.70	3.04	(3.20)	9.39	(5.41)	20.00
603697	3.10	1.04	0.29	1.17	2.71	(3.47)	8.64	(4.73)	17.03
601698	3.33	0.68	0.17	0.67	3.61	(3.92)	9.98	(7.71)	20.00
603057	2.54	0.35	0.12	0.39	2.53	(3.07)	6.50	(3.58)	18.04

Be your own money manager

Our tools can tell you how much better you can do entering a position in Eyebright Medical 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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