Yingde Greatchem Correlations

300804 Stock

24.66 1.40 5.37%

The current 90-days correlation between Yingde Greatchem Che and Tjk Machinery Tianjin is 0.75 (i.e., Poor diversification). The correlation of Yingde Greatchem 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.

Yingde Greatchem Correlation With Market

Good diversification

The correlation between Yingde Greatchem Chemicals and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yingde Greatchem Chemicals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Yingde Stock

0.62	601899	Zijin Mining Group	Pair Corr
0.66	600309	Wanhua Chemical Group	Pair Corr
0.92	600019	Baoshan Iron Steel	Pair Corr
0.92	002493	Rongsheng Petrochemical	Pair Corr
0.9	600010	Inner Mongolia BaoTou	Pair Corr
0.91	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.87	603260	Hoshine Silicon Ind	Pair Corr
0.92	600160	Zhejiang Juhua	Pair Corr
0.9	000807	Yunnan Aluminium	Pair Corr
0.93	688256	Cambricon Technologies	Pair Corr
0.94	688047	Loongson Technology Corp	Pair Corr
0.9	600106	Chongqing Road Bridge	Pair Corr
0.94	688318	Shenzhen Fortune Trend	Pair Corr
0.89	600769	Wuhan Xianglong Power	Pair Corr
0.87	002693	Hainan Shuangcheng	Pair Corr
0.88	301269	Empyrean Technology	Pair Corr
0.9	002625	Kuang Chi Technologies	Pair Corr
0.87	301259	Hunan Airbluer Envir	Pair Corr

Related Correlations Analysis

	000997	300823	002951	601789	605060	200468	600082
000997		0.92	0.92	0.91	0.94	0.95	0.93	000997
300823	0.92		0.8	0.96	0.94	0.9	0.82	300823
002951	0.92	0.8		0.82	0.87	0.92	0.9	002951
601789	0.91	0.96	0.82		0.95	0.91	0.84	601789
605060	0.94	0.94	0.87	0.95		0.94	0.89	605060
200468	0.95	0.9	0.92	0.91	0.94		0.88	200468
600082	0.93	0.82	0.9	0.84	0.89	0.88		600082
	000997	300823	002951	601789	605060	200468	600082

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Risk-Adjusted Indicators

There is a big difference between Yingde Stock performing well and Yingde Greatchem 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 Yingde Greatchem'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
000997	3.02	0.79	0.22	4.11	2.86	(3.55)	7.67	(4.85)	17.13
300823	2.65	0.60	0.13	(1.52)	3.07	(3.05)	7.22	(4.06)	26.30
002951	2.61	0.96	0.26	(1.38)	2.19	(3.16)	5.06	(4.78)	10.34
601789	2.23	0.63	0.16	(0.80)	2.42	(2.70)	6.52	(3.88)	20.08
605060	1.78	0.51	0.15	(1.44)	1.98	(1.97)	4.79	(3.27)	19.51
200468	3.36	1.26	0.36	2.91	2.54	(4.53)	9.34	(4.23)	20.06
600082	2.73	0.69	0.18	14.53	2.78	(3.25)	7.93	(4.35)	20.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in Yingde Greatchem 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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