Shanghai HiTech Correlations

002184 Stock

12.92 0.08 0.62%

The current 90-days correlation between Shanghai HiTech Control and Loctek Ergonomic Technology is 0.07 (i.e., Significant diversification). The correlation of Shanghai HiTech 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.

Shanghai HiTech Correlation With Market

Very good diversification

The correlation between Shanghai HiTech Control and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai HiTech Control and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shanghai Stock

0.61

000995

Gansu Huangtai Wine

Pair Corr

Moving against Shanghai Stock

0.83	300648	Fujian Nebula Electronics	Pair Corr
0.73	301057	Zhejiang Huilong New	Pair Corr
0.67	300337	Yinbang Clad Material	Pair Corr
0.66	301307	Chongqing Millison	Pair Corr
0.6	001270	Zhejiang Chengchang	Pair Corr
0.56	300448	Guangzhou Haoyun Security	Pair Corr
0.53	300774	BGT Group	Pair Corr
0.52	002379	Shandong Hongchuang	Pair Corr
0.52	002371	NAURA Technology	Pair Corr
0.5	002151	Beijing BDStar Navigation	Pair Corr
0.43	600499	Keda Clean Energy	Pair Corr
0.42	300668	Shenzhen Jiang	Pair Corr
0.41	002728	Teyi Pharmaceutical	Pair Corr
0.36	000429	Guangdong Provincial	Pair Corr
0.35	600089	Tbea	Pair Corr
0.34	300259	Suntront Tech	Pair Corr
0.81	000859	Anhui Guofeng Plastic	Pair Corr
0.73	300189	Hainan Shennong Tech	Pair Corr
0.73	001203	Inner Mongolia Dazhong	Pair Corr
0.68	603353	Hunan Heshun Petroleum	Pair Corr
0.67	300548	Broadex Technologies	Pair Corr
0.67	600033	Fujian Expressway	Pair Corr
0.62	000070	Shenzhen SDG Information	Pair Corr
0.62	688053	Chengdu Screen Micro	Pair Corr
0.59	301201	ChengDa Pharmaceuticals	Pair Corr
0.56	603049	Zhongce Rubber Group	Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	002952	603199	516220	002096	002999	300243
601615		0.13	-0.47	0.39	-0.26	-0.17	-0.2	0.43	-0.17	0.24	601615
159681	0.13		0.1	-0.07	-0.39	0.12	0.24	0.06	-0.03	-0.03	159681
159005	-0.47	0.1		-0.87	0.43	-0.27	0.73	-0.35	0.35	-0.25	159005
300729	0.39	-0.07	-0.87		-0.38	0.45	-0.57	0.51	-0.19	0.32	300729
002952	-0.26	-0.39	0.43	-0.38		-0.41	0.08	-0.48	0.22	-0.15	002952
603199	-0.17	0.12	-0.27	0.45	-0.41		0.0	0.2	-0.21	-0.09	603199
516220	-0.2	0.24	0.73	-0.57	0.08	0.0		0.16	0.5	0.07	516220
002096	0.43	0.06	-0.35	0.51	-0.48	0.2	0.16		0.47	0.74	002096
002999	-0.17	-0.03	0.35	-0.19	0.22	-0.21	0.5	0.47		0.73	002999
300243	0.24	-0.03	-0.25	0.32	-0.15	-0.09	0.07	0.74	0.73		300243
	601615	159681	159005	300729	002952	603199	516220	002096	002999	300243

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

300243	+ 0.74	002096
516220	+ 0.73	159005
300243	+ 0.73	002999
002096	+ 0.51	300729
002999	+ 0.5	516220
002999	+ 0.47	002096

High negative correlations

300729	- 0.87	159005
516220	- 0.57	300729
002096	- 0.48	002952
159005	- 0.47	601615
603199	- 0.41	002952
002952	- 0.39	159681

Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai HiTech 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 Shanghai HiTech'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
601615	1.98	0.14	0.04	0.61	2.23	(2.09)	4.25	(4.16)	15.37
159681	1.61	0.04	0.01	0.14	1.95	(1.82)	3.31	(3.36)	7.36
159005	0.01	(0.01)	0.00	1.28	0.00	0.00	0.00	0.00	0.10
300729	1.10	(0.19)	0.00	(3.77)	0.00	0.00	2.15	(2.48)	7.80
002952	1.97	0.13	(0.02)	(0.04)	2.10	(2.55)	3.91	(3.86)	16.60
603199	0.95	(0.08)	0.00	0.32	0.00	0.00	1.87	(1.87)	5.88
516220	1.25	0.20	0.07	0.47	1.32	(1.78)	2.53	(2.53)	7.10
002096	0.97	(0.03)	0.00	(2.13)	0.00	0.00	1.83	(2.08)	6.87
002999	1.13	0.05	(0.02)	(0.32)	1.68	(1.08)	1.79	(2.00)	7.89
300243	1.49	(0.12)	0.00	(0.25)	0.00	0.00	2.50	(2.78)	10.17

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanghai HiTech 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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Shanghai HiTech Corporate Executives

Elected by the shareholders, the Shanghai HiTech's board of directors comprises two types of representatives: Shanghai HiTech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shanghai. The board's role is to monitor Shanghai HiTech's management team and ensure that shareholders' interests are well served. Shanghai HiTech's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Shanghai HiTech's outside directors are responsible for providing unbiased perspectives on the board's policies.

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