Sichuan Yahua Correlations

Stocks . China . 
Stock . Sichuan Yahua Industrial
002497 Stock   12.14  0.22  1.85%   
The current 90-days correlation between Sichuan Yahua Industrial and Changchun UP Optotech is 0.51 (i.e., Very weak diversification). The correlation of Sichuan Yahua 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.

Sichuan Yahua Correlation With Market

Significant diversification

The correlation between Sichuan Yahua Industrial and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Yahua Industrial and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Sichuan Yahua could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sichuan Yahua 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 Sichuan Yahua - 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 Sichuan Yahua Industrial to buy it.

Moving together with Sichuan Stock

  0.66600309 Wanhua Chemical GroupPairCorr
  0.85600019 Baoshan Iron SteelPairCorr
  0.92002493 Rongsheng PetrochemicalPairCorr
  0.94600010 Inner Mongolia BaoTouPairCorr
  0.98002460 Jiangxi Ganfeng LithiumPairCorr
  0.91603260 Hoshine Silicon IndPairCorr
  0.9600160 Zhejiang JuhuaPairCorr
  0.86000807 Yunnan AluminiumPairCorr
  0.62601658 Postal Savings BankPairCorr
  0.87601318 Ping An InsurancePairCorr
  0.81600036 China Merchants BankPairCorr
  0.7601166 Industrial BankPairCorr
  0.94688137 Suzhou NovoproteinPairCorr
  0.88300364 COL Digital PublishingPairCorr
  0.89000678 Xiangyang AutomobilePairCorr

Moving against Sichuan Stock

  0.36600547 Shandong Gold MiningPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Sichuan Stock performing well and Sichuan Yahua 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 Sichuan Yahua'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 Sichuan Yahua 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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