Jiangsu Hoperun Correlations

300339 Stock

61.77 3.37 5.77%

The current 90-days correlation between Jiangsu Hoperun Software and G bits Network Technology is 0.39 (i.e., Weak diversification). The correlation of Jiangsu Hoperun 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.

Jiangsu Hoperun Correlation With Market

Average diversification

The correlation between Jiangsu Hoperun Software and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Hoperun Software and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jiangsu Stock

0.72	601318	Ping An Insurance	Pair Corr
0.67	601628	China Life Insurance	Pair Corr
0.64	688558	Nantong Guosheng Int	Pair Corr
0.86	300578	BizConf Telecom	Pair Corr
0.73	688103	Kunshan Guoli Electronic	Pair Corr
0.71	301236	iSoftStone Information	Pair Corr
0.86	601698	China Satellite Comm	Pair Corr
0.74	688013	Touchstone International	Pair Corr

Moving against Jiangsu Stock

0.8	600938	CNOOC Limited	Pair Corr
0.74	601857	PetroChina	Pair Corr
0.5	600941	China Mobile Limited	Pair Corr
0.62	688256	Cambricon Technologies	Pair Corr
0.56	601169	Bank of Beijing Co Ltd	Pair Corr
0.55	300811	Poco Holding Co	Pair Corr
0.51	600368	Guangxi Wuzhou Commu	Pair Corr
0.31	603306	HMTNew Technical	Pair Corr

Related Correlations Analysis

	600519	300750	603444	688169	002594	200596	000596	002371	300760
600519		0.61	-0.02	-0.48	-0.18	0.41	0.82	0.34	0.78	600519
300750	0.61		0.51	0.18	0.47	0.71	0.3	0.57	0.63	300750
603444	-0.02	0.51		0.58	0.75	0.32	-0.42	0.37	0.14	603444
688169	-0.48	0.18	0.58		0.73	0.3	-0.57	0.27	-0.25	688169
002594	-0.18	0.47	0.75	0.73		0.44	-0.47	0.7	0.23	002594
200596	0.41	0.71	0.32	0.3	0.44		0.31	0.56	0.47	200596
000596	0.82	0.3	-0.42	-0.57	-0.47	0.31		0.09	0.61	000596
002371	0.34	0.57	0.37	0.27	0.7	0.56	0.09		0.64	002371
300760	0.78	0.63	0.14	-0.25	0.23	0.47	0.61	0.64		300760
	600519	300750	603444	688169	002594	200596	000596	002371	300760

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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

000596	+ 0.82	600519
300760	+ 0.78	600519
002594	+ 0.75	603444
002594	+ 0.73	688169
200596	+ 0.71	300750
002371	+ 0.7	002594

High negative correlations

000596	- 0.57	688169
688169	- 0.48	600519
000596	- 0.47	002594
000596	- 0.42	603444
300760	- 0.25	688169
002594	- 0.18	600519

Risk-Adjusted Indicators

There is a big difference between Jiangsu Stock performing well and Jiangsu Hoperun 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 Jiangsu Hoperun'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
600519	0.82	(0.10)	0.00	(0.24)	0.00	0.00	1.83	(2.36)	4.96
300750	1.52	0.00	0.00	(0.01)	1.75	(1.68)	3.23	(2.80)	8.15
603444	1.66	0.11	0.05	0.28	2.24	(1.64)	3.69	(3.74)	9.97
688169	2.00	0.26	0.13	(1.44)	1.83	(2.38)	5.53	(3.49)	10.62
002594	1.60	0.39	0.26	1.06	1.17	(1.94)	4.59	(2.28)	12.12
200596	0.94	0.01	0.01	0.06	1.45	(0.91)	2.00	(2.07)	6.19
000596	1.53	(0.28)	0.00	(1.14)	0.00	0.00	2.12	(4.20)	10.39
002371	1.71	0.08	0.04	0.09	1.96	(1.97)	3.58	(3.73)	10.01
300760	1.26	(0.09)	0.00	(0.27)	0.00	0.00	2.66	(2.80)	6.82

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Our tools can tell you how much better you can do entering a position in Jiangsu Hoperun 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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