Orinko Advanced Correlations
| 688219 Stock | 9.93 0.57 6.09% |
The current 90-days correlation between Orinko Advanced Plastics and Baoshan Iron Steel is 0.56 (i.e., Very weak diversification). The correlation of Orinko Advanced 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.
Orinko Advanced Correlation With Market
Good diversification
The correlation between Orinko Advanced Plastics and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orinko Advanced Plastics and DJI in the same portfolio, assuming nothing else is changed.
Orinko |
The ability to find closely correlated positions to Orinko Advanced could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Orinko Advanced 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 Orinko Advanced - 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 Orinko Advanced Plastics to buy it.
Moving together with Orinko Stock
| 0.9 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.92 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.93 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.92 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.9 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.93 | 600160 | Zhejiang Juhua | PairCorr |
| 0.87 | 000807 | Yunnan Aluminium | PairCorr |
| 0.9 | 601318 | Ping An Insurance | PairCorr |
| 0.86 | 600036 | China Merchants Bank | PairCorr |
| 0.74 | 601166 | Industrial Bank | PairCorr |
Related Correlations Analysis
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Our tools can tell you how much better you can do entering a position in Orinko Advanced 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.Did you try this?
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