Allgens Medical Correlations

688613 Stock

18.89 0.96 5.35%

The current 90-days correlation between Allgens Medical Tech and Longjian Road Bridge is 0.57 (i.e., Very weak diversification). The correlation of Allgens 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.

Allgens Medical Correlation With Market

Good diversification

The correlation between Allgens Medical Technology and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allgens Medical Technology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Allgens 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 Allgens 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 Allgens 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 Allgens Medical Technology to buy it.

Moving together with Allgens Stock

0.88	601628	China Life Insurance	Pair Corr
0.86	601059	Cinda Securities	Pair Corr
0.92	688072	Piotech Inc A	Pair Corr
0.91	601198	Dongxing Sec	Pair Corr
0.9	688293	Shanghai OPM Biosciences	Pair Corr
0.9	688126	National Silicon Industry	Pair Corr
0.87	000504	Nanhua Bio Medicine	Pair Corr
0.86	000061	Shenzhen Agricultural	Pair Corr
0.95	688012	Advanced Micro Fabri	Pair Corr

Related Correlations Analysis

	600853	301397	688538	600076	688119	002682	300478	002108
600853		0.93	0.91	0.97	0.95	0.89	0.96	0.94	600853
301397	0.93		0.94	0.89	0.94	0.83	0.92	0.89	301397
688538	0.91	0.94		0.86	0.97	0.77	0.91	0.87	688538
600076	0.97	0.89	0.86		0.92	0.96	0.93	0.96	600076
688119	0.95	0.94	0.97	0.92		0.84	0.95	0.92	688119
002682	0.89	0.83	0.77	0.96	0.84		0.86	0.94	002682
300478	0.96	0.92	0.91	0.93	0.95	0.86		0.9	300478
002108	0.94	0.89	0.87	0.96	0.92	0.94	0.9		002108
	600853	301397	688538	600076	688119	002682	300478	002108

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Risk-Adjusted Indicators

There is a big difference between Allgens Stock performing well and Allgens 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 Allgens 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
600853	1.86	0.55	0.16	(21.26)	1.94	(2.28)	4.10	(2.87)	17.02
301397	2.83	0.61	0.12	(0.72)	2.93	(3.23)	9.30	(4.41)	23.92
688538	2.12	0.43	0.12	(1.37)	2.11	(2.53)	4.87	(3.57)	19.22
600076	2.98	1.20	0.29	(1.85)	2.73	(3.59)	7.55	(4.88)	18.49
688119	2.34	0.60	0.15	116.37	2.67	(2.85)	5.13	(3.41)	24.87
002682	2.62	0.80	0.19	4.33	2.99	(2.94)	8.67	(5.46)	18.65
300478	2.54	0.83	0.19	(1.48)	2.74	(3.08)	6.67	(3.48)	28.77
002108	1.96	0.46	0.14	(5.94)	2.15	(2.30)	4.17	(3.28)	16.89

Be your own money manager

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