Changsha Jingjia Correlations

300474 Stock

104.00 1.35 1.28%

The current 90-days correlation between Changsha Jingjia Mic and Ming Yang Smart is 0.14 (i.e., Average diversification). The correlation of Changsha Jingjia 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.

Changsha Jingjia Correlation With Market

Significant diversification

The correlation between Changsha Jingjia Microelectron and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Changsha Jingjia Microelectron and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Changsha Stock

0.7	601939	China Construction Bank	Pair Corr
0.72	601658	Postal Savings Bank	Pair Corr
0.67	601318	Ping An Insurance	Pair Corr
0.79	600036	China Merchants Bank	Pair Corr
0.61	601998	China Citic Bank	Pair Corr
0.83	603969	Tianjin Silvery Dragon	Pair Corr
0.72	601929	JiShi Media	Pair Corr
0.7	000420	Jilin Chemical Fibre	Pair Corr
0.83	688047	Loongson Technology Corp	Pair Corr
0.7	603313	Healthcare	Pair Corr
0.76	603068	Beken Corp	Pair Corr
0.83	600498	Fiberhome Telecommunicatio	Pair Corr
0.94	300433	Lens Technology	Pair Corr
0.9	688325	Guangdong Cellwise	Pair Corr
0.77	002382	Blue Sail Medical	Pair Corr
0.86	301379	Techshine Electronics	Pair Corr
0.67	300825	Iat Automobile Technology	Pair Corr
0.74	002946	New Hope Dairy	Pair Corr
0.68	000909	Soyea Technology	Pair Corr
0.63	600719	Dalian Thermal Power	Pair Corr
0.71	600455	ButOne Information Corp	Pair Corr
0.61	600755	Xiamen ITG Group	Pair Corr
0.79	300359	Qtone Education Group	Pair Corr
0.82	688082	ACM Research Shanghai	Pair Corr
0.76	301390	Hangzhou Gisway Info	Pair Corr
0.77	002466	Sichuan Tianqi Lithium	Pair Corr
0.65	603818	Qumei Furniture Group	Pair Corr
0.64	000560	5I5j Holding Group	Pair Corr
0.9	300219	Guangzhou Hongli Opto	Pair Corr
0.74	000617	CNPC Capital	Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	002952	516220	002096	002999	300243	603269
601615		0.76	0.92	0.82	0.77	0.73	0.49	0.92	0.72	0.85	601615
159681	0.76		0.64	0.84	0.79	0.96	0.79	0.64	0.75	0.77	159681
159005	0.92	0.64		0.64	0.61	0.58	0.4	0.86	0.63	0.78	159005
300729	0.82	0.84	0.64		0.69	0.83	0.54	0.79	0.69	0.73	300729
002952	0.77	0.79	0.61	0.69		0.78	0.67	0.6	0.7	0.87	002952
516220	0.73	0.96	0.58	0.83	0.78		0.72	0.63	0.78	0.71	516220
002096	0.49	0.79	0.4	0.54	0.67	0.72		0.37	0.52	0.65	002096
002999	0.92	0.64	0.86	0.79	0.6	0.63	0.37		0.62	0.73	002999
300243	0.72	0.75	0.63	0.69	0.7	0.78	0.52	0.62		0.62	300243
603269	0.85	0.77	0.78	0.73	0.87	0.71	0.65	0.73	0.62		603269
	601615	159681	159005	300729	002952	516220	002096	002999	300243	603269

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Risk-Adjusted Indicators

There is a big difference between Changsha Stock performing well and Changsha Jingjia 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 Changsha Jingjia'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
601615	2.75	0.70	0.25	3.01	2.42	(3.44)	7.78	(3.82)	18.14
159681	2.97	0.68	0.16	1.64	3.05	(4.78)	8.99	(4.00)	36.32
159005	0.01	0.00	0.00	0.95	0.00	0.00	0.01	0.00	0.14
300729	2.28	0.21	0.05	0.54	3.15	(2.44)	6.27	(4.21)	24.80
002952	3.12	0.51	0.11	1.03	3.95	(3.10)	9.02	(6.36)	19.99
516220	1.73	0.28	0.09	146.52	1.75	(2.77)	5.26	(3.03)	17.74
002096	2.22	0.16	0.04	(0.35)	2.47	(2.44)	4.30	(4.45)	13.27
002999	2.61	0.30	0.08	0.41	3.21	(2.87)	6.20	(5.34)	17.06
300243	3.23	0.53	0.11	(2.16)	4.03	(3.55)	10.41	(5.67)	31.77
603269	2.81	0.49	0.14	(2.99)	2.89	(3.21)	5.98	(5.73)	16.65

Be your own money manager

Our tools can tell you how much better you can do entering a position in Changsha Jingjia 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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