Kuangda Technology Correlations

002516 Stock

5.31 0.03 0.57%

The current 90-days correlation between Kuangda Technology and BeiGene is 0.48 (i.e., Very weak diversification). The correlation of Kuangda Technology 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.

Kuangda Technology Correlation With Market

Good diversification

The correlation between Kuangda Technology Group and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kuangda Technology Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kuangda Stock

0.78	300841	Chengdu Kanghua Biol	Pair Corr
0.91	688137	Suzhou Novoprotein	Pair Corr
0.77	601600	Aluminum Corp	Pair Corr
0.97	300364	COL Digital Publishing	Pair Corr
0.92	001299	Shaanxi Meineng Clean	Pair Corr
0.91	000995	Gansu Huangtai Wine	Pair Corr
0.78	600223	Lushang Property	Pair Corr
0.9	605168	Threes Company	Pair Corr
0.9	000678	Xiangyang Automobile	Pair Corr

Related Correlations Analysis

	688235	600519	688169	603444	600941	688399	000661	002371	300750
688235		0.82	0.6	0.81	0.39	0.52	0.86	0.8	0.86	688235
600519	0.82		0.39	0.73	0.56	0.6	0.88	0.78	0.84	600519
688169	0.6	0.39		0.75	0.31	0.37	0.33	0.16	0.4	688169
603444	0.81	0.73	0.75		0.51	0.6	0.69	0.54	0.71	603444
600941	0.39	0.56	0.31	0.51		0.35	0.33	0.19	0.29	600941
688399	0.52	0.6	0.37	0.6	0.35		0.58	0.45	0.55	688399
000661	0.86	0.88	0.33	0.69	0.33	0.58		0.95	0.97	000661
002371	0.8	0.78	0.16	0.54	0.19	0.45	0.95		0.94	002371
300750	0.86	0.84	0.4	0.71	0.29	0.55	0.97	0.94		300750
	688235	600519	688169	603444	600941	688399	000661	002371	300750

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Risk-Adjusted Indicators

There is a big difference between Kuangda Stock performing well and Kuangda Technology 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 Kuangda Technology'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
688235	2.50	0.22	0.05	0.60	2.99	(2.62)	5.84	(4.77)	18.86
600519	1.68	0.16	(0.01)	(0.19)	1.85	(2.08)	6.55	(2.98)	16.71
688169	3.25	0.20	(0.02)	(0.02)	4.27	(3.50)	6.51	(5.72)	34.80
603444	2.76	0.01	(0.02)	0.17	3.18	(3.19)	5.21	(4.79)	18.75
600941	0.98	0.01	0.00	0.08	0.00	0.00	2.05	(2.04)	8.38
688399	1.79	0.04	0.00	0.05	0.00	0.00	4.07	(4.33)	20.86
000661	2.34	0.37	0.09	(1.32)	2.11	(2.99)	7.55	(3.55)	17.13
002371	2.33	0.49	0.14	(4.97)	2.08	(2.61)	9.80	(3.99)	15.93
300750	2.66	0.82	0.18	(0.82)	3.03	(3.24)	7.94	(3.41)	33.42

Be your own money manager

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