Zhejiang Tailin Correlations
| 300813 Stock | 18.98 1.09 6.09% |
The current 90-days correlation between Zhejiang Tailin Bioe and Jiangsu Apon Medical is 0.44 (i.e., Very weak diversification). The correlation of Zhejiang Tailin 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.
Zhejiang Tailin Correlation With Market
Significant diversification
The correlation between Zhejiang Tailin Bioengineering and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Tailin Bioengineering and DJI in the same portfolio, assuming nothing else is changed.
Zhejiang |
The ability to find closely correlated positions to Zhejiang Tailin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhejiang Tailin 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 Zhejiang Tailin - 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 Zhejiang Tailin Bioengineering to buy it.
Moving together with Zhejiang Stock
Moving against Zhejiang Stock
| 0.9 | 601988 | Bank of China | PairCorr |
| 0.86 | 601398 | Industrial and Commercial | PairCorr |
| 0.82 | 601288 | Agricultural Bank | PairCorr |
| 0.78 | 601939 | China Construction Bank | PairCorr |
| 0.73 | 601166 | Industrial Bank | PairCorr |
| 0.52 | 600036 | China Merchants Bank | PairCorr |
| 0.5 | 601328 | Bank of Communications | PairCorr |
| 0.36 | 601658 | Postal Savings Bank | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Zhejiang Stock performing well and Zhejiang Tailin 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 Zhejiang Tailin'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 301101 | 3.94 | 0.76 | 0.16 | 1.14 | 3.74 | 13.67 | 29.68 | |||
| 300061 | 3.75 | (0.47) | 0.00 | (0.42) | 0.00 | 6.00 | 39.96 | |||
| 300753 | 3.86 | 0.43 | 0.07 | 16.84 | 4.65 | 8.27 | 33.29 | |||
| 688581 | 1.58 | (0.05) | 0.00 | (0.37) | 0.00 | 3.29 | 10.16 | |||
| 688410 | 2.74 | (0.20) | 0.00 | (0.20) | 0.00 | 5.98 | 19.77 | |||
| 300595 | 2.06 | (0.26) | 0.00 | (0.29) | 0.00 | 5.22 | 14.90 | |||
| 688301 | 2.14 | (0.30) | 0.00 | (0.32) | 0.00 | 4.34 | 13.66 | |||
| 300412 | 3.18 | 0.26 | 0.06 | 0.40 | 3.58 | 6.52 | 29.51 | |||
| 301363 | 1.88 | (0.10) | 0.00 | (0.11) | 0.00 | 4.09 | 10.08 |
Zhejiang Tailin 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 Zhejiang Tailin stock to make a market-neutral strategy. Peer analysis of Zhejiang Tailin could also be used in its relative valuation, which is a method of valuing Zhejiang Tailin by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Zhejiang Tailin Corporate Executives
Elected by the shareholders, the Zhejiang Tailin's board of directors comprises two types of representatives: Zhejiang Tailin inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zhejiang. The board's role is to monitor Zhejiang Tailin's management team and ensure that shareholders' interests are well served. Zhejiang Tailin's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Zhejiang Tailin's outside directors are responsible for providing unbiased perspectives on the board's policies.