Contec Medical Correlations

300869 Stock

15.48 0.19 1.24%

The current 90-days correlation between Contec Medical Systems and Industrial and Commercial is 0.04 (i.e., Significant diversification). The correlation of Contec Medical 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.

Contec Medical Correlation With Market

Good diversification

The correlation between Contec Medical Systems and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Contec Medical Systems and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Contec Stock

0.9	600519	Kweichow Moutai	Pair Corr
0.95	300750	Contemporary Amperex	Pair Corr
0.78	603444	G bits Network	Pair Corr
0.95	002594	BYD Co	Pair Corr
0.94	200596	Anhui Gujing Distillery	Pair Corr
0.92	000596	Anhui Gujing Distillery	Pair Corr
0.9	002371	NAURA Technology	Pair Corr
0.95	300760	Shenzhen Mindray Bio	Pair Corr

Related Correlations Analysis

	601398	601939	601288	601988	601857	600036	600938	600941	601328	601658
601398		0.96	0.93	0.94	0.69	0.58	0.67	0.71	0.93	0.76	601398
601939	0.96		0.94	0.9	0.54	0.76	0.64	0.68	0.84	0.89	601939
601288	0.93	0.94		0.93	0.58	0.6	0.64	0.68	0.87	0.81	601288
601988	0.94	0.9	0.93		0.65	0.56	0.67	0.75	0.86	0.76	601988
601857	0.69	0.54	0.58	0.65		0.1	0.85	0.63	0.79	0.26	601857
600036	0.58	0.76	0.6	0.56	0.1		0.42	0.5	0.35	0.94	600036
600938	0.67	0.64	0.64	0.67	0.85	0.42		0.78	0.64	0.54	600938
600941	0.71	0.68	0.68	0.75	0.63	0.5	0.78		0.61	0.63	600941
601328	0.93	0.84	0.87	0.86	0.79	0.35	0.64	0.61		0.56	601328
601658	0.76	0.89	0.81	0.76	0.26	0.94	0.54	0.63	0.56		601658
	601398	601939	601288	601988	601857	600036	600938	600941	601328	601658

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Risk-Adjusted Indicators

There is a big difference between Contec Stock performing well and Contec Medical 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 Contec Medical'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	1.27	0.06	(0.07)	(0.02)	1.58	(1.46)	2.83	(3.06)	8.14
601939	1.32	0.07	(0.05)	(0.07)	1.76	(1.44)	3.32	(3.86)	8.64
601288	1.31	0.06	(0.05)	(0.08)	1.97	(1.23)	3.21	(3.89)	8.24
601988	1.22	0.10	(0.04)	(0.18)	1.48	(1.46)	2.67	(2.86)	7.70
601857	1.45	(0.09)	0.00	0.29	0.00	0.00	3.43	(3.33)	17.17
600036	1.51	0.24	0.02	(0.22)	1.84	(1.73)	4.65	(2.56)	13.83
600938	1.59	(0.05)	0.00	0.24	0.00	0.00	3.25	(3.62)	16.49
600941	1.00	0.03	(0.09)	(0.04)	1.20	(1.12)	2.05	(2.04)	8.38
601328	1.37	(0.02)	0.00	0.16	0.00	0.00	3.26	(3.60)	10.82
601658	1.44	0.17	0.00	(0.27)	1.79	(1.62)	3.49	(2.84)	9.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in Contec Medical 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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Contec Medical Corporate Management

Elected by the shareholders, the Contec Medical's board of directors comprises two types of representatives: Contec Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Contec. The board's role is to monitor Contec Medical's management team and ensure that shareholders' interests are well served. Contec Medical'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, Contec Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Chunyuan Fu	Deputy Manager	Profile
Zhenhong Liu	Deputy Manager	Profile
Guozhi Kou	Deputy Manager	Profile
Yunlong Xu	Deputy Manager	Profile

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