Guangdong Cellwise Correlations

688325 Stock

53.71 2.10 4.07%

The current 90-days correlation between Guangdong Cellwise and Zhongtong Guomai Communication is -0.23 (i.e., Very good diversification). The correlation of Guangdong Cellwise 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 Cellwise Correlation With Market

Significant diversification

The correlation between Guangdong Cellwise Microelectr 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 Cellwise Microelectr and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Guangdong Cellwise 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 Cellwise 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 Cellwise - 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 Cellwise Microelectronics to buy it.

Moving together with Guangdong Stock

0.63	601398	Industrial and Commercial	Pair Corr
0.69	601939	China Construction Bank	Pair Corr
0.7	601658	Postal Savings Bank	Pair Corr
0.74	601318	Ping An Insurance	Pair Corr
0.77	600036	China Merchants Bank	Pair Corr
0.69	601998	China Citic Bank	Pair Corr
0.87	603969	Tianjin Silvery Dragon	Pair Corr
0.78	601929	JiShi Media	Pair Corr
0.81	000420	Jilin Chemical Fibre	Pair Corr
0.93	688047	Loongson Technology Corp	Pair Corr
0.84	603313	Healthcare	Pair Corr
0.88	603068	Beken Corp	Pair Corr
0.68	002400	Guangdong Advertising	Pair Corr
0.93	600498	Fiberhome Telecommunicatio	Pair Corr
0.73	002217	Holitech Technology	Pair Corr
0.89	300433	Lens Technology	Pair Corr
0.89	002382	Blue Sail Medical	Pair Corr
0.94	301379	Techshine Electronics	Pair Corr
0.83	300825	Iat Automobile Technology	Pair Corr
0.82	002946	New Hope Dairy	Pair Corr
0.76	000909	Soyea Technology	Pair Corr
0.79	600719	Dalian Thermal Power	Pair Corr
0.84	600455	ButOne Information Corp	Pair Corr
0.61	600755	Xiamen ITG Group	Pair Corr
0.93	300359	Qtone Education Group	Pair Corr
0.87	688082	ACM Research Shanghai	Pair Corr
0.83	301390	Hangzhou Gisway Info	Pair Corr
0.9	002466	Sichuan Tianqi Lithium	Pair Corr
0.79	603818	Qumei Furniture Group	Pair Corr
0.82	000560	5I5j Holding Group	Pair Corr
0.91	300219	Guangzhou Hongli Opto	Pair Corr
0.75	000617	CNPC Capital	Pair Corr
0.78	600515	Hainan HNA Infrastructure	Pair Corr

Related Correlations Analysis

	002792	603559	002929	002454	000609	000548	300825
002792		0.79	0.62	0.9	0.86	0.88	0.91	002792
603559	0.79		0.44	0.86	0.9	0.61	0.79	603559
002929	0.62	0.44		0.75	0.48	0.71	0.7	002929
002454	0.9	0.86	0.75		0.86	0.86	0.93	002454
000609	0.86	0.9	0.48	0.86		0.73	0.83	000609
000548	0.88	0.61	0.71	0.86	0.73		0.87	000548
300825	0.91	0.79	0.7	0.93	0.83	0.87		300825
	002792	603559	002929	002454	000609	000548	300825

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Risk-Adjusted Indicators

There is a big difference between Guangdong Stock performing well and Guangdong Cellwise 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 Cellwise'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
002792	2.81	0.63	0.17	4.65	3.09	(3.11)	9.98	(6.12)	17.25
603559	3.31	0.91	0.24	(1.87)	3.25	(3.75)	5.03	(5.00)	10.09
002929	2.38	0.53	0.17	(12.39)	2.84	(2.72)	6.21	(4.46)	19.58
002454	1.95	0.37	0.15	41.53	2.11	(2.27)	4.14	(3.51)	15.98
000609	2.83	0.37	0.10	12.81	3.13	(3.21)	5.15	(5.10)	10.31
000548	2.24	0.56	0.18	1.64	2.53	(2.55)	7.00	(3.60)	19.83
300825	3.17	0.58	0.13	(1.38)	3.49	(3.43)	9.23	(6.50)	25.82

Be your own money manager

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