Goertek Correlations

Stocks . China . 
Stock . Goertek
002241 Stock   23.45  1.21  4.91%   
The current 90-days correlation between Goertek and Nanjing Putian Telecommunications is 0.45 (i.e., Very weak diversification). The correlation of Goertek 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.

Goertek Correlation With Market

Good diversification

The correlation between Goertek and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goertek and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Goertek could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Goertek 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 Goertek - 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 Goertek to buy it.

Moving together with Goertek Stock

  0.81600519 Kweichow MoutaiPairCorr
  0.91300750 Contemporary AmperexPairCorr
  0.83601628 China Life InsurancePairCorr
  0.85600036 China Merchants BankPairCorr

Related Correlations Analysis

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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   
300013
+ 0.95
200468
002200
+ 0.95
200468
300013
+ 0.95
000692
002200
+ 0.95
300013
002200
+ 0.94
000692
000692
+ 0.91
200468
  
High negative correlations   
600198
- 0.32
002168
002168
- 0.11
200468
002200
- 0.08
002168
300013
- 0.03
002168

Risk-Adjusted Indicators

There is a big difference between Goertek Stock performing well and Goertek 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 Goertek'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.

Be your own money manager

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