Jiangsu Zhongshe Correlations

002883 Stock

11.59 0.51 4.60%

The current 90-days correlation between Jiangsu Zhongshe and Shandong Ruifeng Chemical is 0.17 (i.e., Average diversification). The correlation of Jiangsu Zhongshe 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.

Jiangsu Zhongshe Correlation With Market

Significant diversification

The correlation between Jiangsu Zhongshe Group and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Zhongshe Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jiangsu Stock

0.85	688235	BeiGene	Pair Corr
0.8	600519	Kweichow Moutai	Pair Corr
0.61	603444	G bits Network	Pair Corr
0.96	000661	Changchun High New	Pair Corr
0.93	002371	NAURA Technology	Pair Corr
0.96	300750	Contemporary Amperex	Pair Corr
0.93	002236	Zhejiang Dahua Technology	Pair Corr
0.93	900957	Shanghai Lingyun Ind	Pair Corr
0.93	600742	Changchun Faway Auto	Pair Corr

Related Correlations Analysis

	159681	159005	300729	516220	002096	300243	603269	300049	600895	688618
159681		0.87	0.95	0.99	0.86	0.87	0.9	0.31	0.92	0.94	159681
159005	0.87		0.87	0.87	0.73	0.93	0.81	-0.09	0.93	0.76	159005
300729	0.95	0.87		0.94	0.78	0.84	0.88	0.22	0.86	0.88	300729
516220	0.99	0.87	0.94		0.84	0.88	0.89	0.24	0.92	0.93	516220
002096	0.86	0.73	0.78	0.84		0.72	0.79	0.46	0.78	0.82	002096
300243	0.87	0.93	0.84	0.88	0.72		0.85	0.0	0.95	0.81	300243
603269	0.9	0.81	0.88	0.89	0.79	0.85		0.33	0.87	0.94	603269
300049	0.31	-0.09	0.22	0.24	0.46	0.0	0.33		0.05	0.4	300049
600895	0.92	0.93	0.86	0.92	0.78	0.95	0.87	0.05		0.86	600895
688618	0.94	0.76	0.88	0.93	0.82	0.81	0.94	0.4	0.86		688618
	159681	159005	300729	516220	002096	300243	603269	300049	600895	688618

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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

516220	+ 0.99	159681
300729	+ 0.95	159681
600895	+ 0.95	300243
688618	+ 0.94	159681
516220	+ 0.94	300729
688618	+ 0.94	603269

High negative correlations

300049	- 0.09	159005
300049	- 0.0	300243

Risk-Adjusted Indicators

There is a big difference between Jiangsu Stock performing well and Jiangsu Zhongshe 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 Jiangsu Zhongshe'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
159681	2.96	0.72	0.13	(10.51)	3.01	(4.96)	8.99	(4.00)	36.32
159005	0.01	0.00	0.00	(0.75)	0.00	0.00	0.01	0.00	0.14
300729	2.09	0.41	0.09	6.59	2.84	(2.42)	6.27	(3.09)	24.80
516220	1.66	0.31	0.06	(3.82)	1.68	(2.92)	5.26	(3.03)	17.74
002096	2.09	0.14	0.01	0.91	2.38	(2.19)	4.30	(3.86)	13.27
300243	3.14	0.75	0.12	(0.67)	3.62	(3.47)	10.41	(4.71)	31.77
603269	2.61	0.40	0.08	(1.16)	2.73	(3.05)	5.98	(4.63)	16.65
300049	3.32	(0.16)	0.00	(0.19)	0.00	0.00	7.57	(7.51)	28.09
600895	3.37	1.00	0.19	(0.77)	3.15	(3.79)	10.01	(5.11)	19.00
688618	3.30	0.32	0.05	4.25	4.07	(3.64)	9.39	(6.04)	29.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jiangsu Zhongshe 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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