Shanghai Yaoji Correlations

002605 Stock   27.60  1.45  4.99%   
The current 90-days correlation between Shanghai Yaoji Playing and Ningbo Kangqiang Electronics is 0.14 (i.e., Average diversification). The correlation of Shanghai Yaoji 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.

Shanghai Yaoji Correlation With Market

Significant diversification

The correlation between Shanghai Yaoji Playing 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 Shanghai Yaoji Playing and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shanghai Yaoji could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shanghai Yaoji 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 Shanghai Yaoji - 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 Shanghai Yaoji Playing to buy it.

Moving together with Shanghai Stock

  0.66000909 Soyea TechnologyPairCorr
  0.77300081 Hengxin Mobile BusinessPairCorr
  0.72600608 Shanghai BroadbandPairCorr
  0.74600666 Aurora OptoelectronicsPairCorr
  0.61605089 Suzhou Weizhixiang FoodPairCorr
  0.75603226 Vohringer Home TechnologyPairCorr
  0.75600568 Zhongzhu Medical HoldingsPairCorr

Moving against Shanghai Stock

  0.59601166 Industrial BankPairCorr
  0.55600938 CNOOC LimitedPairCorr
  0.54600036 China Merchants BankPairCorr
  0.52601857 PetroChinaPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
600666600599
603893002119
300956603893
300956002119
600666002156
600599002156
  
High negative correlations   
600599300956
600599603893
600666300956
600599600901
600666603893
600666600901

Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Yaoji 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 Shanghai Yaoji'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 Shanghai Yaoji 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.

Did you try this?

Run My Watchlist Analysis Now

   

My Watchlist Analysis

Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like
All  Next Launch Module

Shanghai Yaoji Corporate Management

Elected by the shareholders, the Shanghai Yaoji's board of directors comprises two types of representatives: Shanghai Yaoji inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shanghai. The board's role is to monitor Shanghai Yaoji's management team and ensure that shareholders' interests are well served. Shanghai Yaoji's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Shanghai Yaoji's outside directors are responsible for providing unbiased perspectives on the board's policies.
Dayun BianBoard GMProfile
Ni ChenFinancial ManagerProfile
Meifeng LiangDeputy SupervisorProfile
Cong LuSecretary GMProfile