Beijing Shunxin Correlations

000860 Stock

20.33 0.65 3.10%

The current 90-days correlation between Beijing Shunxin Agri and Dongxing Sec Co is 0.7 (i.e., Poor diversification). The correlation of Beijing Shunxin 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.

Beijing Shunxin Correlation With Market

Average diversification

The correlation between Beijing Shunxin Agriculture and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Shunxin Agriculture and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Beijing Stock

0.81	200468	Nanjing Putian Telec	Pair Corr
0.87	600322	Tianjin Realty Devel	Pair Corr
0.85	300391	Kangyue Technology	Pair Corr
0.87	300301	Shenzhen Changfang Light	Pair Corr
0.84	000692	Shenyang Huitian Thermal	Pair Corr
0.77	300013	Jiangsu Xinning Modern	Pair Corr
0.65	688656	HOB Biotech Group	Pair Corr
0.91	002371	NAURA Technology	Pair Corr

Related Correlations Analysis

	601628	601059	688072	601198	688293	688126	603993	000504	000061	688012
601628		0.95	0.76	0.9	0.72	0.92	0.71	0.73	0.71	0.84	601628
601059	0.95		0.72	0.9	0.68	0.87	0.74	0.68	0.67	0.79	601059
688072	0.76	0.72		0.87	0.95	0.81	0.18	0.86	0.86	0.98	688072
601198	0.9	0.9	0.87		0.86	0.84	0.5	0.84	0.81	0.92	601198
688293	0.72	0.68	0.95	0.86		0.75	0.15	0.9	0.93	0.93	688293
688126	0.92	0.87	0.81	0.84	0.75		0.57	0.8	0.71	0.88	688126
603993	0.71	0.74	0.18	0.5	0.15	0.57		0.24	0.21	0.29	603993
000504	0.73	0.68	0.86	0.84	0.9	0.8	0.24		0.87	0.88	000504
000061	0.71	0.67	0.86	0.81	0.93	0.71	0.21	0.87		0.87	000061
688012	0.84	0.79	0.98	0.92	0.93	0.88	0.29	0.88	0.87		688012
	601628	601059	688072	601198	688293	688126	603993	000504	000061	688012

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Risk-Adjusted Indicators

There is a big difference between Beijing Stock performing well and Beijing Shunxin 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 Beijing Shunxin'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
601628	2.08	0.39	0.12	1.09	2.40	(2.36)	6.42	(3.18)	20.00
601059	2.33	0.48	0.12	(2.84)	2.64	(2.70)	7.43	(4.36)	20.10
688072	3.63	0.67	0.15	(62.17)	3.39	(4.34)	11.70	(6.63)	30.46
601198	2.64	0.73	0.17	(1.59)	2.78	(2.92)	9.99	(5.54)	20.42
688293	3.56	1.02	0.17	(0.63)	3.71	(3.78)	11.13	(5.59)	29.27
688126	3.52	0.80	0.21	(13.50)	2.90	(4.59)	14.22	(5.02)	29.35
603993	1.87	0.11	(0.01)	(0.14)	2.44	(2.07)	4.34	(3.81)	14.34
000504	3.04	0.69	0.16	(1.56)	2.99	(3.57)	8.15	(5.39)	19.08
000061	1.60	0.60	0.23	3.08	1.48	(1.82)	4.90	(2.39)	15.40
688012	3.27	0.78	0.21	1.67	2.75	(3.86)	12.89	(5.17)	29.70

Be your own money manager

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