Qingdao Rural Correlations

002958 Stock

3.11 0.03 0.97%

The current 90-days correlation between Qingdao Rural Commercial and Changjiang Jinggong Steel is 0.75 (i.e., Poor diversification). The correlation of Qingdao Rural 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.

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

Moving together with Qingdao Stock

0.79	300841	Chengdu Kanghua Biol	Pair Corr
0.61	603392	Beijing Wantai Biological	Pair Corr
0.91	688137	Suzhou Novoprotein	Pair Corr
0.76	601600	Aluminum Corp	Pair Corr
0.86	300364	COL Digital Publishing	Pair Corr
0.95	001299	Shaanxi Meineng Clean	Pair Corr
0.88	000995	Gansu Huangtai Wine	Pair Corr
0.84	600223	Lushang Property	Pair Corr
0.88	605168	Threes Company	Pair Corr
0.82	688298	Zhejiang Orient Gene	Pair Corr
0.86	600399	Fushun Special Steel	Pair Corr
0.96	603180	Xiamen Goldenhome	Pair Corr
0.93	300074	AVCON Information Tech	Pair Corr
0.82	002429	Shenzhen MTC	Pair Corr
0.87	002792	Tongyu Communication	Pair Corr
0.91	301370	GKHT Medical Technology	Pair Corr
0.94	002941	Xinjiang Communications	Pair Corr
0.92	688019	Anji Microelectronics	Pair Corr
0.85	900957	Shanghai Lingyun Ind	Pair Corr
0.72	000598	Chengdu Xingrong Inv	Pair Corr
0.71	002822	Shenzhen Zhongzhuang	Pair Corr
0.91	605499	Eastroc Beverage Split	Pair Corr
0.86	603008	Xilinmen Furniture	Pair Corr
0.86	002995	Beijing Quanshi World	Pair Corr
0.92	000555	Digital China Information	Pair Corr
0.92	688203	Zhejiang HISUN Bioma	Pair Corr
0.81	601998	China Citic Bank	Pair Corr
0.93	601615	Ming Yang Smart	Pair Corr
0.85	000839	CITIC Guoan Information	Pair Corr
0.91	300252	Kingsignal Technology	Pair Corr
0.7	688036	Shenzhen Transsion	Pair Corr
0.91	002605	Shanghai Yaoji Playing	Pair Corr
0.92	002205	XinJiang GuoTong Pipeline	Pair Corr
0.91	000042	Shenzhen Centralcon	Pair Corr
0.92	002491	Tongding Interconnection	Pair Corr
0.86	301236	iSoftStone Information	Pair Corr
0.93	600459	Sino Platinum Metals	Pair Corr
0.85	002869	Shenzhen Genvict Tec	Pair Corr
0.93	600429	Beijing Sanyuan Foods	Pair Corr

Related Correlations Analysis

	600496	603797	000638	000928	000506	600683	600110	000544
600496		0.97	0.96	0.95	0.85	0.83	0.91	0.97	600496
603797	0.97		0.94	0.98	0.89	0.8	0.97	0.97	603797
000638	0.96	0.94		0.92	0.92	0.75	0.9	0.94	000638
000928	0.95	0.98	0.92		0.87	0.79	0.95	0.98	000928
000506	0.85	0.89	0.92	0.87		0.55	0.9	0.86	000506
600683	0.83	0.8	0.75	0.79	0.55		0.7	0.81	600683
600110	0.91	0.97	0.9	0.95	0.9	0.7		0.94	600110
000544	0.97	0.97	0.94	0.98	0.86	0.81	0.94		000544
	600496	603797	000638	000928	000506	600683	600110	000544

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Risk-Adjusted Indicators

There is a big difference between Qingdao Stock performing well and Qingdao Rural 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 Qingdao Rural'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
600496	1.65	0.49	0.13	(0.97)	1.82	(1.94)	3.77	(2.73)	16.58
603797	1.86	0.50	0.14	10.10	2.00	(2.25)	3.86	(2.70)	18.40
000638	2.61	0.85	0.19	(1.45)	2.96	(2.92)	6.42	(4.38)	18.86
000928	1.72	0.41	0.12	1.55	2.05	(2.04)	4.73	(2.82)	18.99
000506	3.71	1.63	0.33	14.75	3.54	(4.62)	5.19	(5.11)	10.57
600683	2.65	0.41	0.09	2.92	2.92	(3.09)	6.48	(4.02)	20.01
600110	3.39	0.72	0.14	3.81	3.72	(3.83)	9.97	(8.37)	19.66
000544	1.64	0.28	0.08	0.74	2.06	(1.75)	4.82	(2.79)	16.28

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Our tools can tell you how much better you can do entering a position in Qingdao Rural 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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