Yes Optoelectronics Correlations

Stocks . China . 
Stock . Yes Optoelectronics Co
002952 Stock   25.93  0.20  0.78%   
The current 90-days correlation between Yes Optoelectronics and Industrial and Commercial is -0.04 (i.e., Good diversification). The correlation of Yes Optoelectronics 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.

Yes Optoelectronics Correlation With Market

Good diversification

The correlation between Yes Optoelectronics Co and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yes Optoelectronics Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Yes Optoelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yes Optoelectronics 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 Yes Optoelectronics - 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 Yes Optoelectronics Co to buy it.

Moving together with Yes Stock

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  0.71002946 New Hope DairyPairCorr
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  0.73603818 Qumei Furniture GroupPairCorr
  0.72000428 Huatian Hotel GroupPairCorr
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  0.81688325 Guangdong CellwisePairCorr
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  0.76688507 Shanghai Suochen InfPairCorr
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  0.81600719 Dalian Thermal PowerPairCorr
  0.81002074 Gotion High techPairCorr
  0.74000560 5I5j Holding GroupPairCorr
  0.79605128 Shanghai Yanpu MetalPairCorr
  0.84688119 Sinosteel Luonai MatPairCorr
  0.9301379 Techshine ElectronicsPairCorr
  0.82300815 Eit EnvironmentalPairCorr
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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Yes Stock performing well and Yes Optoelectronics 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 Yes Optoelectronics' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601398  1.14  0.30  0.21  2.87  1.01 
(1.49)
 2.83 
(1.71)
 8.14 
601939  1.14  0.31  0.18  1.75  1.15 
(1.37)
 3.32 
(1.93)
 8.64 
601288  1.06  0.25  0.14  1.64  1.12 
(1.18)
 2.98 
(1.89)
 7.78 
601988  1.02  0.25  0.18  1.43  0.93 
(1.29)
 2.67 
(1.98)
 7.70 
601857  1.32  0.21  0.08  7.11  1.80 
(1.67)
 3.55 
(2.01)
 17.17 
600036  1.59  0.39  0.17 (6.71) 1.72 
(1.84)
 4.65 
(2.56)
 13.83 
600938  1.40  0.19  0.07 (2.66) 1.89 
(1.51)
 3.83 
(2.13)
 16.49 
600941  1.07  0.21  0.16 (79.70) 0.94 
(1.38)
 3.09 
(2.04)
 8.38 
601328  1.34  0.27  0.16  4.25  1.22 
(1.60)
 3.26 
(2.12)
 10.82 
601658  1.39  0.32  0.17  1.81  1.31 
(1.70)
 3.49 
(2.23)
 9.13 

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