Yiren Digital Correlations
| 19YA Stock | EUR 3.14 0.04 1.29% |
The current 90-days correlation between Yiren Digital and Cerence is 0.01 (i.e., Significant diversification). The correlation of Yiren Digital 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.
Yiren Digital Correlation With Market
Pay attention - limited upside
The correlation between Yiren Digital and DJI is -0.86 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yiren Digital and DJI in the same portfolio, assuming nothing else is changed.
Yiren |
The ability to find closely correlated positions to Yiren Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yiren Digital 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 Yiren Digital - 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 Yiren Digital to buy it.
Moving against Yiren Stock
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| 0.9 | PAE | PACCAR | PairCorr |
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| 0.81 | SVKB | SANDVIK | PairCorr |
| 0.8 | ASME | ASML Holding NV | PairCorr |
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| 0.79 | LA3A | Laureate Education | PairCorr |
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| 0.78 | NEF | Neste Oyj | PairCorr |
| 0.77 | ELG | Elmos Semiconductor Earnings Call This Week | PairCorr |
| 0.77 | HKT | HK Electric Investments | PairCorr |
| 0.74 | 6IC | Iridium Communications | PairCorr |
| 0.74 | 317A | STINGRAY GROUP INC | PairCorr |
| 0.74 | 2G0 | Food Life Companies | PairCorr |
| 0.71 | NQG | Monolithic Power Systems | PairCorr |
| 0.63 | 41B | Bellway PLC | PairCorr |
| 0.5 | TWA | TOWA | PairCorr |
| 0.43 | PZ9 | Precious Shipping Public | PairCorr |
| 0.42 | KIK | KIKKOMAN CORP | PairCorr |
| 0.86 | 01H | HORIBA | PairCorr |
| 0.84 | 3RB | RECKITT BENCK GRP | PairCorr |
| 0.83 | SII | Wheaton Precious Metals | PairCorr |
| 0.83 | RATV | Raisio plc | PairCorr |
| 0.81 | MSI | Mitsui Chemicals | PairCorr |
| 0.8 | PPQ | PPG INDUSTRIES | PairCorr |
| 0.78 | DBPE | Xtrackers LevDAX | PairCorr |
| 0.77 | 7GA | Gestamp Automoción Earnings Call This Week | PairCorr |
| 0.76 | CVC1 | Carnival plc | PairCorr |
| 0.76 | TWZ | Trican Well Service | PairCorr |
| 0.72 | 485B | Amcor PLC Split | PairCorr |
| 0.7 | 3I5 | Frontdoor Earnings Call This Week | PairCorr |
| 0.69 | HIUC | China Taiping Insurance | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between Yiren Stock performing well and Yiren Digital 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 Yiren Digital'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 0S6 | 3.95 | (0.12) | (0.01) | 0.00 | 5.04 | 8.78 | 51.37 | |||
| TLIK | 13.29 | 3.63 | 0.10 | (0.69) | 14.64 | 28.57 | 202.56 | |||
| BT3 | 1.48 | (0.27) | 0.00 | (3.58) | 0.00 | 4.26 | 13.56 | |||
| MS9 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IB5A | 1.09 | (0.61) | 0.00 | (1.92) | 0.00 | 0.00 | 15.79 | |||
| MBJ | 1.74 | (0.38) | 0.00 | (9.47) | 0.00 | 3.20 | 11.12 | |||
| MBJ | 1.00 | (0.12) | 0.00 | 0.62 | 0.00 | 2.36 | 12.66 | |||
| TZO | 10.98 | 2.04 | 0.11 | (0.88) | 10.44 | 24.38 | 90.14 | |||
| AJW | 0.97 | (0.41) | 0.00 | 1.13 | 0.00 | 0.00 | 6.16 | |||
| 9R5 | 72.50 | 35.10 | 0.00 | 4.98 | 0.00 | 400.00 | 833.33 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Yiren Digital 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.Did you try this?
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Yiren Digital Corporate Management
Elected by the shareholders, the Yiren Digital's board of directors comprises two types of representatives: Yiren Digital inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Yiren. The board's role is to monitor Yiren Digital's management team and ensure that shareholders' interests are well served. Yiren Digital's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Yiren Digital's outside directors are responsible for providing unbiased perspectives on the board's policies.