Beijing Kaiwen Correlations

002659 Stock

4.53 0.05 1.09%

The current 90-days correlation between Beijing Kaiwen Education and Guangdong Jingyi Metal is 0.46 (i.e., Very weak diversification). The correlation of Beijing Kaiwen 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 Kaiwen Correlation With Market

Average diversification

The correlation between Beijing Kaiwen Education and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Kaiwen Education and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Beijing Kaiwen 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 Kaiwen 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 Kaiwen - 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 Kaiwen Education to buy it.

Moving together with Beijing Stock

0.83	002306	Cloud Live Technology	Pair Corr
0.77	300391	Kangyue Technology	Pair Corr
0.66	000692	Shenyang Huitian Thermal	Pair Corr
0.68	600568	Zhongzhu Medical Holdings	Pair Corr
0.81	603069	Hainan Haiqi Transpo	Pair Corr
0.66	600666	Aurora Optoelectronics	Pair Corr
0.63	300081	Hengxin Mobile Business	Pair Corr

Moving against Beijing Stock

0.47	300866	Anker Innovations	Pair Corr
0.47	603236	Quectel Wireless Sol	Pair Corr
0.33	600368	Guangxi Wuzhou Commu	Pair Corr

Related Correlations Analysis

	002295	600616	600984	600598	601318	601789	002822	600512
002295		0.82	0.81	0.41	-0.02	0.71	0.77	0.86	002295
600616	0.82		0.72	0.26	-0.05	0.74	0.69	0.85	600616
600984	0.81	0.72		0.65	0.22	0.49	0.46	0.79	600984
600598	0.41	0.26	0.65		0.73	0.2	-0.04	0.52	600598
601318	-0.02	-0.05	0.22	0.73		0.03	-0.47	0.28	601318
601789	0.71	0.74	0.49	0.2	0.03		0.67	0.73	601789
002822	0.77	0.69	0.46	-0.04	-0.47	0.67		0.62	002822
600512	0.86	0.85	0.79	0.52	0.28	0.73	0.62		600512
	002295	600616	600984	600598	601318	601789	002822	600512

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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

600512	+ 0.86	002295
600512	+ 0.85	600616
600616	+ 0.82	002295
600984	+ 0.81	002295
600512	+ 0.79	600984
002822	+ 0.77	002295

High negative correlations

002822	- 0.47	601318
601318	- 0.05	600616
002822	- 0.04	600598
601318	- 0.02	002295

Risk-Adjusted Indicators

There is a big difference between Beijing Stock performing well and Beijing Kaiwen 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 Kaiwen'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
002295	1.84	0.27	0.09	15.68	2.63	(1.82)	4.12	(4.02)	17.70
600616	2.40	0.15	0.04	1.37	3.36	(2.56)	5.54	(5.33)	19.36
600984	3.19	0.36	0.11	0.94	2.95	(4.12)	9.93	(5.05)	16.83
600598	1.21	(0.08)	0.00	(0.55)	0.00	0.00	3.20	(2.59)	8.05
601318	1.09	(0.23)	0.00	67.26	0.00	0.00	2.19	(2.88)	10.26
601789	2.62	0.08	0.03	(0.12)	2.94	(2.97)	7.52	(5.30)	16.59
002822	3.02	0.90	0.26	1.16	2.87	(3.49)	5.12	(4.93)	10.28
600512	1.64	0.00	0.00	(0.01)	2.04	(1.76)	3.69	(3.53)	9.93

Be your own money manager

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