Guosheng Financial Correlations

002670 Stock

11.12 0.08 0.72%

The current 90-days correlation between Guosheng Financial and BeiGene is 0.39 (i.e., Weak diversification). The correlation of Guosheng Financial 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.

Guosheng Financial Correlation With Market

Good diversification

The correlation between Guosheng Financial Holding and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guosheng Financial Holding and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guosheng Stock

0.82	688256	Cambricon Technologies	Pair Corr
0.9	688047	Loongson Technology Corp	Pair Corr
0.86	600106	Chongqing Road Bridge	Pair Corr
0.95	688318	Shenzhen Fortune Trend	Pair Corr
0.8	600769	Wuhan Xianglong Power	Pair Corr
0.83	002693	Hainan Shuangcheng	Pair Corr
0.8	301269	Empyrean Technology	Pair Corr
0.83	002625	Kuang Chi Technologies	Pair Corr
0.77	301259	Hunan Airbluer Envir	Pair Corr
0.86	601933	Yonghui Superstores	Pair Corr
0.97	688137	Suzhou Novoprotein	Pair Corr
0.85	000678	Xiangyang Automobile	Pair Corr
0.89	300364	COL Digital Publishing	Pair Corr
0.87	000688	Guocheng Mining	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

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Guosheng Stock performing well and Guosheng Financial 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 Guosheng Financial'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 Guosheng Financial 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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