Jiangxi Naipu Correlations

300818 Stock

25.87 0.73 2.74%

The current 90-days correlation between Jiangxi Naipu Mining and Industrial and Commercial is -0.08 (i.e., Good diversification). The correlation of Jiangxi Naipu 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.

Jiangxi Naipu Correlation With Market

Good diversification

The correlation between Jiangxi Naipu Mining and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jiangxi Naipu Mining and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jiangxi Stock

0.64	601318	Ping An Insurance	Pair Corr
0.69	601668	China State Construction	Pair Corr
0.73	600519	Kweichow Moutai	Pair Corr
0.66	601628	China Life Insurance	Pair Corr

Moving against Jiangxi Stock

0.61	300866	Anker Innovations	Pair Corr
0.5	600938	CNOOC Limited	Pair Corr
0.48	601857	PetroChina	Pair Corr
0.35	601728	China Telecom Corp	Pair Corr

Related Correlations Analysis

	601398	600519	601288	600941	601939	601857	601988	300750	600036	601628
601398		-0.58	0.97	0.91	0.75	0.86	0.98	-0.25	0.64	-0.58	601398
600519	-0.58		-0.49	-0.45	-0.38	-0.46	-0.67	0.56	-0.36	0.92	600519
601288	0.97	-0.49		0.93	0.8	0.85	0.96	-0.18	0.55	-0.51	601288
600941	0.91	-0.45	0.93		0.72	0.75	0.89	-0.1	0.36	-0.5	600941
601939	0.75	-0.38	0.8	0.72		0.68	0.71	-0.16	0.46	-0.44	601939
601857	0.86	-0.46	0.85	0.75	0.68		0.86	-0.37	0.66	-0.54	601857
601988	0.98	-0.67	0.96	0.89	0.71	0.86		-0.33	0.59	-0.68	601988
300750	-0.25	0.56	-0.18	-0.1	-0.16	-0.37	-0.33		-0.28	0.57	300750
600036	0.64	-0.36	0.55	0.36	0.46	0.66	0.59	-0.28		-0.31	600036
601628	-0.58	0.92	-0.51	-0.5	-0.44	-0.54	-0.68	0.57	-0.31		601628
	601398	600519	601288	600941	601939	601857	601988	300750	600036	601628

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

601988	+ 0.98	601398
601288	+ 0.97	601398
601988	+ 0.96	601288
600941	+ 0.93	601288
601628	+ 0.92	600519
600941	+ 0.91	601398

High negative correlations

601628	- 0.68	601988
601988	- 0.67	600519
601628	- 0.58	601398
600519	- 0.58	601398
601628	- 0.54	601857
601628	- 0.51	601288

Risk-Adjusted Indicators

There is a big difference between Jiangxi Stock performing well and Jiangxi Naipu 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 Jiangxi Naipu'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
601398	0.95	0.18	0.07	(0.72)	0.90	(1.18)	2.31	(1.52)	6.36
600519	0.85	(0.11)	0.00	0.71	0.00	0.00	1.97	(2.37)	7.96
601288	0.91	0.12	0.01	(0.43)	1.25	(0.94)	2.20	(1.58)	7.85
600941	0.90	0.13	0.04	(3.56)	0.87	(1.05)	2.20	(1.64)	6.82
601939	0.96	0.09	0.00	(1.82)	0.97	(1.18)	1.86	(1.89)	4.13
601857	1.09	0.01	0.00	0.06	0.00	0.00	2.47	(2.03)	7.14
601988	0.90	0.18	0.06	(0.60)	0.93	(1.09)	1.90	(1.83)	5.62
300750	1.64	0.04	(0.02)	0.24	1.74	(1.92)	3.88	(2.80)	7.91
600036	1.04	0.08	(0.02)	(0.22)	1.32	(1.05)	2.14	(1.95)	6.49
601628	1.64	(0.09)	0.00	0.55	0.00	0.00	3.84	(3.94)	15.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jiangxi Naipu 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.

Did you try this?

Run Bollinger Bands Now

Bollinger Bands

Use Bollinger Bands indicator to analyze target price for a given investing horizon

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC