Autek China Correlations

300595 Stock

18.87 0.37 2.00%

The current 90-days correlation between Autek China and Offshore Oil Engineering is 0.75 (i.e., Poor diversification). The correlation of Autek China 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.

Autek China Correlation With Market

Good diversification

The correlation between Autek China and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Autek China and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Autek Stock

0.96	601628	China Life Insurance	Pair Corr
0.97	601059	Cinda Securities	Pair Corr
0.82	688072	Piotech Inc A	Pair Corr
0.91	601198	Dongxing Sec	Pair Corr
0.81	688293	Shanghai OPM Biosciences	Pair Corr
0.94	688126	National Silicon Industry	Pair Corr
0.68	603993	China Molybdenum	Pair Corr
0.81	000504	Nanhua Bio Medicine	Pair Corr
0.89	688521	VeriSilicon Microelectronics	Pair Corr
0.94	300396	Dirui Industrial	Pair Corr
0.91	900957	Shanghai Lingyun Ind	Pair Corr
0.86	688036	Shenzhen Transsion	Pair Corr
0.78	000839	CITIC Guoan Information	Pair Corr
0.91	301236	iSoftStone Information	Pair Corr
0.93	688019	Anji Microelectronics	Pair Corr
0.77	601998	China Citic Bank	Pair Corr
0.67	000598	Chengdu Xingrong Inv	Pair Corr
0.9	002429	Shenzhen MTC	Pair Corr
0.91	002869	Shenzhen Genvict Tec	Pair Corr
0.96	688203	Zhejiang HISUN Bioma	Pair Corr
0.98	301370	GKHT Medical Technology	Pair Corr
0.86	002941	Xinjiang Communications	Pair Corr
0.91	603180	Xiamen Goldenhome	Pair Corr
0.94	605499	Eastroc Beverage Split	Pair Corr
0.92	000042	Shenzhen Centralcon	Pair Corr
0.75	002792	Tongyu Communication	Pair Corr

Related Correlations Analysis

	600583	300281	603277	600984	600512	605259	002556
600583		0.7	0.43	0.64	0.73	0.65	0.54	600583
300281	0.7		0.12	0.92	0.97	0.95	0.91	300281
603277	0.43	0.12		-0.04	0.06	0.0	-0.12	603277
600984	0.64	0.92	-0.04		0.95	0.94	0.84	600984
600512	0.73	0.97	0.06	0.95		0.96	0.9	600512
605259	0.65	0.95	0.0	0.94	0.96		0.93	605259
002556	0.54	0.91	-0.12	0.84	0.9	0.93		002556
	600583	300281	603277	600984	600512	605259	002556

Click cells to compare fundamentals

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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

600512	+ 0.97	300281
605259	+ 0.96	600512
605259	+ 0.95	300281
600512	+ 0.95	600984
605259	+ 0.94	600984
002556	+ 0.93	605259

High negative correlations

002556	- 0.12	603277
600984	- 0.04	603277
605259	- 0.0	603277

Risk-Adjusted Indicators

There is a big difference between Autek Stock performing well and Autek China 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 Autek China'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
600583	1.48	0.00	0.00	0.12	0.00	0.00	3.63	(3.06)	14.63
300281	3.13	0.67	0.11	(6.50)	4.29	(3.43)	7.26	(4.56)	32.59
603277	1.82	0.00	(0.05)	0.13	2.74	(1.63)	3.37	(3.56)	17.22
600984	2.84	0.73	0.16	(0.74)	2.57	(3.73)	8.30	(4.76)	18.30
600512	1.60	0.36	0.10	(2.63)	1.78	(2.00)	3.60	(2.44)	15.41
605259	1.71	0.41	0.09	(1.72)	2.16	(1.71)	3.47	(3.43)	14.98
002556	2.08	0.55	0.12	(2.31)	2.80	(2.38)	5.30	(3.21)	20.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in Autek China 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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