Shenzhen Dynanonic Correlations

300769 Stock

31.71 1.85 5.51%

The current 90-days correlation between Shenzhen Dynanonic and CITIC Guoan Information is 0.38 (i.e., Weak diversification). The correlation of Shenzhen Dynanonic 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.

Shenzhen Dynanonic Correlation With Market

Average diversification

The correlation between Shenzhen Dynanonic Co and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Dynanonic Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shenzhen Stock

0.75	002493	Rongsheng Petrochemical	Pair Corr
0.7	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.72	603260	Hoshine Silicon Ind	Pair Corr
0.66	600608	Shanghai Broadband	Pair Corr

Moving against Shenzhen Stock

0.66	601857	PetroChina	Pair Corr
0.56	600036	China Merchants Bank	Pair Corr
0.53	601398	Industrial and Commercial	Pair Corr
0.51	601988	Bank of China	Pair Corr
0.49	601939	China Construction Bank	Pair Corr
0.46	601288	Agricultural Bank	Pair Corr
0.43	600941	China Mobile Limited	Pair Corr
0.34	600028	China Petroleum Chemical	Pair Corr
0.31	600160	Zhejiang Juhua	Pair Corr

Related Correlations Analysis

	300898	001215	002161	601007	000839	603517	603696	002956
300898		0.48	0.59	0.77	0.33	0.34	0.87	0.87	300898
001215	0.48		0.72	0.83	0.9	0.9	0.73	0.32	001215
002161	0.59	0.72		0.76	0.67	0.7	0.72	0.56	002161
601007	0.77	0.83	0.76		0.7	0.76	0.94	0.59	601007
000839	0.33	0.9	0.67	0.7		0.89	0.58	0.2	000839
603517	0.34	0.9	0.7	0.76	0.89		0.61	0.15	603517
603696	0.87	0.73	0.72	0.94	0.58	0.61		0.72	603696
002956	0.87	0.32	0.56	0.59	0.2	0.15	0.72		002956
	300898	001215	002161	601007	000839	603517	603696	002956

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Risk-Adjusted Indicators

There is a big difference between Shenzhen Stock performing well and Shenzhen Dynanonic 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 Shenzhen Dynanonic'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
300898	3.34	0.34	0.08	1.59	4.12	(3.58)	5.32	(6.98)	31.47
001215	2.69	(0.07)	0.00	(0.14)	0.00	0.00	6.03	(6.11)	17.67
002161	3.38	0.17	0.04	(0.20)	4.28	(3.57)	9.96	(7.58)	20.06
601007	1.63	(0.07)	0.00	(0.41)	0.00	0.00	3.56	(3.64)	11.94
000839	2.79	0.09	0.03	0.11	3.20	(3.16)	10.03	(6.07)	17.93
603517	3.07	(0.08)	0.00	0.17	0.00	0.00	7.73	(6.20)	18.84
603696	2.45	0.09	0.03	0.65	3.50	(2.48)	5.06	(6.98)	20.02
002956	2.11	0.28	0.11	(4.83)	2.51	(2.28)	5.35	(3.81)	16.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shenzhen Dynanonic 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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