Beijing Lier Correlations

002392 Stock

4.95 0.06 1.20%

The current 90-days correlation between Beijing Lier High and Xiamen Bank Co is -0.01 (i.e., Good diversification). The correlation of Beijing Lier 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 Lier Correlation With Market

Good diversification

The correlation between Beijing Lier High and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Lier High and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Beijing Lier 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 Lier 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 Lier - 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 Lier High to buy it.

Moving against Beijing Stock

0.48	601899	Zijin Mining Group	Pair Corr
0.39	600547	Shandong Gold Mining	Pair Corr
0.38	600160	Zhejiang Juhua	Pair Corr
0.34	601166	Industrial Bank	Pair Corr
0.41	180101	Bosera CMSK Industrial	Pair Corr
0.31	301439	Weihai Honglin Electronic	Pair Corr

Related Correlations Analysis

	601187	000831	002296	603979	002893	603995	600362	002322
601187		0.14	0.44	-0.1	0.35	0.38	0.26	0.4	601187
000831	0.14		0.49	0.41	0.77	0.37	0.65	0.59	000831
002296	0.44	0.49		0.32	0.47	0.81	0.48	0.83	002296
603979	-0.1	0.41	0.32		0.11	0.43	0.75	0.38	603979
002893	0.35	0.77	0.47	0.11		0.28	0.32	0.53	002893
603995	0.38	0.37	0.81	0.43	0.28		0.61	0.71	603995
600362	0.26	0.65	0.48	0.75	0.32	0.61		0.59	600362
002322	0.4	0.59	0.83	0.38	0.53	0.71	0.59		002322
	601187	000831	002296	603979	002893	603995	600362	002322

Click cells to compare fundamentals

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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

002322	+ 0.83	002296
603995	+ 0.81	002296
002893	+ 0.77	000831
600362	+ 0.75	603979
002322	+ 0.71	603995
600362	+ 0.65	000831

High negative correlations

603979

- 0.1

601187

Risk-Adjusted Indicators

There is a big difference between Beijing Stock performing well and Beijing Lier 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 Lier'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
601187	1.06	0.00	0.01	(0.06)	1.38	(1.13)	2.08	(2.30)	8.03
000831	1.41	(0.11)	0.00	(0.30)	0.00	0.00	3.40	(2.79)	8.34
002296	2.67	0.19	0.06	2.03	3.40	(2.51)	5.61	(5.96)	17.27
603979	1.49	(0.15)	0.00	(2.12)	0.00	0.00	3.05	(2.84)	8.60
002893	2.01	(0.13)	0.00	(0.50)	0.00	0.00	4.94	(4.69)	14.74
603995	1.32	(0.01)	0.01	0.06	1.50	(1.67)	3.43	(2.68)	8.50
600362	0.98	(0.09)	0.00	(0.45)	0.00	0.00	1.78	(2.07)	4.99
002322	1.42	(0.01)	0.01	(0.08)	1.92	(1.34)	3.00	(3.09)	12.91

Be your own money manager

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