Blue Sail Correlations

002382 Stock

5.37 0.25 4.45%

The current 90-days correlation between Blue Sail Medical and Bank of China is 0.12 (i.e., Average diversification). The correlation of Blue Sail 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.

Blue Sail Correlation With Market

Good diversification

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

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

Moving together with Blue Stock

0.82	601668	China State Construction	Pair Corr
0.84	601390	China Railway Group	Pair Corr
0.87	601186	China Railway Constr	Pair Corr
0.93	601628	China Life Insurance	Pair Corr
0.93	601318	Ping An Insurance	Pair Corr

Moving against Blue Stock

0.41

600028

China Petroleum Chemical

Pair Corr

Related Correlations Analysis

	601988	600519	601857	601328	601318	600941	600000	600016	300750	600028
601988		0.49	0.62	0.81	0.39	0.74	0.59	0.53	0.3	0.53	601988
600519	0.49		0.17	0.28	0.87	0.56	0.87	0.87	0.85	-0.01	600519
601857	0.62	0.17		0.8	-0.15	0.64	0.07	0.0	-0.21	0.88	601857
601328	0.81	0.28	0.8		0.04	0.61	0.31	0.2	-0.03	0.6	601328
601318	0.39	0.87	-0.15	0.04		0.37	0.94	0.94	0.96	-0.28	601318
600941	0.74	0.56	0.64	0.61	0.37		0.55	0.49	0.3	0.62	600941
600000	0.59	0.87	0.07	0.31	0.94	0.55		0.93	0.85	-0.08	600000
600016	0.53	0.87	0.0	0.2	0.94	0.49	0.93		0.92	-0.13	600016
300750	0.3	0.85	-0.21	-0.03	0.96	0.3	0.85	0.92		-0.36	300750
600028	0.53	-0.01	0.88	0.6	-0.28	0.62	-0.08	-0.13	-0.36		600028
	601988	600519	601857	601328	601318	600941	600000	600016	300750	600028

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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

300750	+ 0.96	601318
600000	+ 0.94	601318
600016	+ 0.94	601318
600016	+ 0.93	600000
300750	+ 0.92	600016
600028	+ 0.88	601857

High negative correlations

600028	- 0.36	300750
600028	- 0.28	601318
300750	- 0.21	601857
601318	- 0.15	601857
600028	- 0.13	600016
600028	- 0.08	600000

Risk-Adjusted Indicators

There is a big difference between Blue Stock performing well and Blue Sail 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 Blue Sail'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
601988	1.23	0.10	(0.03)	(0.20)	1.51	(1.42)	2.67	(2.86)	7.70
600519	1.68	0.18	0.00	(0.26)	1.87	(2.11)	6.55	(2.98)	16.71
601857	1.49	(0.06)	0.00	0.23	0.00	0.00	3.43	(3.33)	17.17
601328	1.35	(0.03)	0.00	0.19	0.00	0.00	3.26	(3.60)	10.82
601318	1.86	0.56	0.14	(0.44)	1.83	(2.29)	5.83	(2.83)	19.77
600941	1.00	0.03	(0.09)	(0.04)	1.18	(1.16)	2.05	(2.04)	8.38
600000	1.46	0.21	0.02	(0.43)	1.52	(1.89)	3.69	(2.94)	10.95
600016	1.42	0.27	0.04	(0.42)	1.75	(1.78)	3.39	(2.40)	12.81
300750	2.64	0.80	0.17	(0.78)	2.98	(3.20)	7.94	(3.41)	33.42
600028	1.44	(0.02)	0.00	0.17	0.00	0.00	4.21	(3.26)	10.77

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