Goke Microelectronics Correlations
| 300672 Stock | 65.84 0.74 1.14% |
The current 90-days correlation between Goke Microelectronics and Xinya Electronic Co is 0.51 (i.e., Very weak diversification). The correlation of Goke Microelectronics 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.
Goke Microelectronics Correlation With Market
Modest diversification
The correlation between Goke Microelectronics Co and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goke Microelectronics Co and DJI in the same portfolio, assuming nothing else is changed.
Goke |
The ability to find closely correlated positions to Goke Microelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Goke Microelectronics 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 Goke Microelectronics - 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 Goke Microelectronics Co to buy it.
Moving together with Goke Stock
| 0.83 | 600519 | Kweichow Moutai | PairCorr |
| 0.62 | 688298 | Zhejiang Orient Gene | PairCorr |
| 0.72 | 002594 | BYD Co | PairCorr |
| 0.74 | 300760 | Shenzhen Mindray Bio | PairCorr |
| 0.65 | 600436 | Zhangzhou Pientzehuang | PairCorr |
Moving against Goke Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Goke Stock performing well and Goke Microelectronics 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 Goke Microelectronics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 688020 | 2.34 | (0.25) | 0.00 | (0.63) | 0.00 | 3.95 | 14.97 | |||
| 605277 | 2.90 | 0.48 | 0.12 | 1.20 | 3.22 | 9.98 | 16.51 | |||
| 603078 | 2.76 | 0.03 | 0.01 | 0.11 | 3.49 | 7.39 | 20.00 | |||
| 688589 | 2.22 | (0.31) | 0.00 | (0.32) | 0.00 | 4.60 | 13.13 | |||
| 300976 | 2.55 | 0.16 | 0.04 | 0.36 | 3.07 | 4.87 | 19.00 | |||
| 002036 | 2.85 | (0.09) | 0.00 | (0.01) | 0.00 | 6.51 | 15.48 | |||
| 002121 | 2.46 | (0.09) | 0.00 | (0.09) | 0.00 | 4.68 | 16.71 | |||
| 300248 | 3.21 | 0.42 | 0.08 | 5.17 | 3.80 | 9.06 | 26.00 | |||
| 688512 | 3.82 | 0.05 | 0.02 | 0.11 | 3.73 | 8.33 | 38.94 |
Goke Microelectronics Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Goke Microelectronics stock to make a market-neutral strategy. Peer analysis of Goke Microelectronics could also be used in its relative valuation, which is a method of valuing Goke Microelectronics by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Goke Microelectronics Corporate Executives
Elected by the shareholders, the Goke Microelectronics' board of directors comprises two types of representatives: Goke Microelectronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Goke. The board's role is to monitor Goke Microelectronics' management team and ensure that shareholders' interests are well served. Goke Microelectronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Goke Microelectronics' outside directors are responsible for providing unbiased perspectives on the board's policies.