Monalisa Group Correlations

002918 Stock

10.02 0.30 2.91%

The current 90-days correlation between Monalisa Group and Agricultural Bank of is 0.07 (i.e., Significant diversification). The correlation of Monalisa Group 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.

Monalisa Group Correlation With Market

Significant diversification

The correlation between Monalisa Group Co 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 Monalisa Group Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Monalisa Stock

0.78	600941	China Mobile Limited	Pair Corr
0.77	601288	Agricultural Bank	Pair Corr
0.84	601398	Industrial and Commercial	Pair Corr
0.78	601939	China Construction Bank	Pair Corr
0.79	601857	PetroChina	Pair Corr
0.84	601988	Bank of China	Pair Corr
0.78	600368	Guangxi Wuzhou Commu	Pair Corr
0.75	603236	Quectel Wireless Sol	Pair Corr
0.83	300866	Anker Innovations	Pair Corr

Moving against Monalisa Stock

0.65	601390	China Railway Group	Pair Corr
0.62	601668	China State Construction	Pair Corr
0.57	002594	BYD Co	Pair Corr
0.37	002124	Ningbo Tech Bank	Pair Corr
0.32	600608	Shanghai Broadband	Pair Corr

Related Correlations Analysis

	601288	601398	601988	601939	600036	601857	601166	600000	601628	601318
601288		0.98	0.95	0.98	0.5	0.87	0.61	0.51	-0.52	-0.59	601288
601398	0.98		0.98	0.96	0.54	0.9	0.62	0.53	-0.58	-0.68	601398
601988	0.95	0.98		0.9	0.51	0.89	0.64	0.48	-0.69	-0.79	601988
601939	0.98	0.96	0.9		0.53	0.86	0.6	0.54	-0.45	-0.51	601939
600036	0.5	0.54	0.51	0.53		0.77	0.87	0.86	-0.17	-0.14	600036
601857	0.87	0.9	0.89	0.86	0.77		0.83	0.77	-0.56	-0.58	601857
601166	0.61	0.62	0.64	0.6	0.87	0.83		0.87	-0.42	-0.35	601166
600000	0.51	0.53	0.48	0.54	0.86	0.77	0.87		-0.15	-0.08	600000
601628	-0.52	-0.58	-0.69	-0.45	-0.17	-0.56	-0.42	-0.15		0.93	601628
601318	-0.59	-0.68	-0.79	-0.51	-0.14	-0.58	-0.35	-0.08	0.93		601318
	601288	601398	601988	601939	600036	601857	601166	600000	601628	601318

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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

601398	+ 0.98	601288
601939	+ 0.98	601288
601988	+ 0.98	601398
601939	+ 0.96	601398
601988	+ 0.95	601288
601318	+ 0.93	601628

High negative correlations

601318	- 0.79	601988
601628	- 0.69	601988
601318	- 0.68	601398
601318	- 0.59	601288
601318	- 0.58	601857
601628	- 0.58	601398

Risk-Adjusted Indicators

There is a big difference between Monalisa Stock performing well and Monalisa Group 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 Monalisa Group'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
601288	0.87	0.02	0.00	0.16	1.33	(0.83)	1.69	(1.58)	7.85
601398	0.88	0.07	0.05	0.46	1.02	(1.05)	2.19	(1.52)	6.36
601988	0.79	0.11	0.09	(13.99)	0.82	(0.96)	1.60	(1.54)	5.42
601939	0.88	0.01	(0.01)	(0.96)	1.05	(0.99)	1.81	(1.91)	4.13
600036	1.03	0.08	0.05	2.26	1.26	(1.09)	2.14	(1.95)	6.49
601857	1.03	0.08	0.05	0.67	1.03	(1.31)	2.47	(1.94)	6.74
601166	0.88	0.02	0.00	0.23	1.23	(0.86)	1.62	(1.99)	6.36
600000	0.98	0.00	(0.01)	0.12	1.19	(1.06)	2.17	(1.73)	6.70
601628	1.62	(0.13)	0.00	(0.37)	0.00	0.00	2.97	(3.94)	15.40
601318	1.09	(0.21)	0.00	69.24	0.00	0.00	2.19	(2.88)	10.26

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Our tools can tell you how much better you can do entering a position in Monalisa Group 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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