Glodon Software Correlations

002410 Stock

12.70 0.88 6.48%

The current 90-days correlation between Glodon Software and Ming Yang Smart is 0.51 (i.e., Very weak diversification). The correlation of Glodon Software 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.

Glodon Software Correlation With Market

Significant diversification

The correlation between Glodon Software Co and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glodon Software Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Glodon Stock

0.84	605259	Lutian Machinery	Pair Corr
0.63	001289	China Longyuan Power	Pair Corr
0.76	603201	Changshu Tongrun Auto	Pair Corr
0.86	605198	Yantai North Andre	Pair Corr
0.72	601998	China Citic Bank	Pair Corr

Moving against Glodon Stock

0.64	600025	Huaneng Lancang River	Pair Corr
0.41	601298	Qingdao Port Interna	Pair Corr
0.33	600236	Guangxi Guiguan Electric	Pair Corr

Related Correlations Analysis

	601615	159005	300729	301028	688391	600742	516220	002096	300243	603269
601615		0.88	0.91	0.93	0.84	0.95	0.94	0.83	0.94	0.93	601615
159005	0.88		0.87	0.92	0.82	0.88	0.88	0.83	0.91	0.78	159005
300729	0.91	0.87		0.95	0.96	0.92	0.97	0.9	0.85	0.89	300729
301028	0.93	0.92	0.95		0.93	0.9	0.94	0.92	0.9	0.93	301028
688391	0.84	0.82	0.96	0.93		0.86	0.95	0.9	0.79	0.84	688391
600742	0.95	0.88	0.92	0.9	0.86		0.95	0.81	0.9	0.89	600742
516220	0.94	0.88	0.97	0.94	0.95	0.95		0.88	0.89	0.89	516220
002096	0.83	0.83	0.9	0.92	0.9	0.81	0.88		0.79	0.82	002096
300243	0.94	0.91	0.85	0.9	0.79	0.9	0.89	0.79		0.85	300243
603269	0.93	0.78	0.89	0.93	0.84	0.89	0.89	0.82	0.85		603269
	601615	159005	300729	301028	688391	600742	516220	002096	300243	603269

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Risk-Adjusted Indicators

There is a big difference between Glodon Stock performing well and Glodon Software 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 Glodon Software'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	2.42	0.47	0.14	(2.83)	2.37	(2.95)	7.35	(4.15)	18.14
159005	0.01	0.00	0.00	0.46	0.00	0.00	0.01	0.00	0.14
300729	1.98	0.33	0.07	(0.97)	2.78	(2.40)	6.27	(2.63)	24.80
301028	2.20	0.54	0.14	(0.70)	2.33	(2.72)	5.04	(3.16)	24.51
688391	2.91	0.52	0.10	(2.39)	3.39	(3.38)	6.33	(4.87)	34.22
600742	1.67	0.45	0.15	(2.71)	1.76	(1.87)	3.88	(2.99)	12.33
516220	1.59	0.33	0.07	(0.67)	1.59	(3.06)	5.26	(3.03)	17.74
002096	2.13	0.11	0.01	1.78	2.45	(2.26)	4.30	(3.86)	13.27
300243	2.98	0.70	0.16	(5.31)	3.05	(3.45)	10.41	(4.60)	26.79
603269	2.52	0.41	0.09	(0.76)	2.59	(2.96)	5.98	(4.63)	16.65

Be your own money manager

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