Runjian Communication Correlations

002929 Stock

29.08 0.55 1.86%

The current 90-days correlation between Runjian Communication and Chengdu Kanghua Biological is 0.8 (i.e., Very poor diversification). The correlation of Runjian Communication 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.

Runjian Communication Correlation With Market

Good diversification

The correlation between Runjian Communication Co and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Runjian Communication Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Runjian Stock

0.94	601318	Ping An Insurance	Pair Corr
0.89	601728	China Telecom Corp	Pair Corr
0.89	601668	China State Construction	Pair Corr
0.92	600519	Kweichow Moutai	Pair Corr
0.92	601628	China Life Insurance	Pair Corr
0.81	000678	Xiangyang Automobile	Pair Corr

Related Correlations Analysis

	300841	603392	688137	601600	300364	001299	000995	600223	605168
300841		0.83	0.92	0.87	0.85	0.81	0.77	0.92	0.83	300841
603392	0.83		0.77	0.75	0.65	0.65	0.7	0.88	0.71	603392
688137	0.92	0.77		0.85	0.92	0.93	0.92	0.93	0.95	688137
601600	0.87	0.75	0.85		0.82	0.74	0.78	0.9	0.8	601600
300364	0.85	0.65	0.92	0.82		0.91	0.88	0.82	0.89	300364
001299	0.81	0.65	0.93	0.74	0.91		0.89	0.83	0.91	001299
000995	0.77	0.7	0.92	0.78	0.88	0.89		0.86	0.94	000995
600223	0.92	0.88	0.93	0.9	0.82	0.83	0.86		0.89	600223
605168	0.83	0.71	0.95	0.8	0.89	0.91	0.94	0.89		605168
	300841	603392	688137	601600	300364	001299	000995	600223	605168

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Runjian Stock performing well and Runjian Communication 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 Runjian Communication'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
300841	2.75	0.28	0.01	(0.17)	3.55	(3.10)	4.85	(5.63)	32.68
603392	1.73	0.16	(0.01)	(0.17)	1.95	(2.15)	3.89	(2.16)	16.51
688137	1.95	0.23	0.03	(0.74)	2.77	(2.04)	5.14	(3.67)	22.24
601600	2.16	0.25	0.04	6.30	2.79	(2.30)	6.09	(3.93)	17.74
300364	4.07	0.85	0.14	(1.69)	4.28	(5.09)	9.53	(7.32)	34.75
001299	1.89	0.30	0.07	(1.85)	2.10	(2.11)	4.15	(3.42)	15.29
000995	3.70	0.56	0.09	(2.97)	4.04	(3.82)	10.00	(6.74)	20.01
600223	1.88	0.14	0.00	(0.57)	2.51	(2.00)	4.58	(3.17)	16.41
605168	3.00	0.53	0.11	(15.97)	3.20	(3.31)	9.43	(5.78)	19.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Runjian Communication 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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