Yoantion Industrial Correlations

301053 Stock

20.53 0.47 2.34%

The current 90-days correlation between Yoantion Industrial and Anji Foodstuff Co is 0.63 (i.e., Poor diversification). The correlation of Yoantion Industrial 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.

Yoantion Industrial Correlation With Market

Average diversification

The correlation between Yoantion Industrial IncLtd and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yoantion Industrial IncLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Yoantion Stock

0.73	601668	China State Construction	Pair Corr
0.7	601390	China Railway Group	Pair Corr
0.63	601186	China Railway Constr	Pair Corr
0.68	601628	China Life Insurance	Pair Corr
0.74	601318	Ping An Insurance	Pair Corr

Moving against Yoantion Stock

0.76	601398	Industrial and Commercial	Pair Corr
0.72	601857	PetroChina	Pair Corr
0.67	600941	China Mobile Limited	Pair Corr
0.62	601939	China Construction Bank	Pair Corr
0.34	600028	China Petroleum Chemical	Pair Corr

Related Correlations Analysis

	603696	002969	601665	002296	600599	605388	002991	600300
603696		0.76	-0.28	0.82	0.64	0.92	0.32	0.77	603696
002969	0.76		-0.43	0.74	0.79	0.72	-0.16	0.48	002969
601665	-0.28	-0.43		-0.51	-0.69	-0.39	0.19	-0.09	601665
002296	0.82	0.74	-0.51		0.73	0.87	0.2	0.59	002296
600599	0.64	0.79	-0.69	0.73		0.7	-0.08	0.53	600599
605388	0.92	0.72	-0.39	0.87	0.7		0.34	0.76	605388
002991	0.32	-0.16	0.19	0.2	-0.08	0.34		0.49	002991
600300	0.77	0.48	-0.09	0.59	0.53	0.76	0.49		600300
	603696	002969	601665	002296	600599	605388	002991	600300

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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

605388	+ 0.92	603696
605388	+ 0.87	002296
002296	+ 0.82	603696
600599	+ 0.79	002969
600300	+ 0.77	603696
002969	+ 0.76	603696

High negative correlations

600599	- 0.69	601665
002296	- 0.51	601665
601665	- 0.43	002969
605388	- 0.39	601665
601665	- 0.28	603696
002991	- 0.16	002969

Risk-Adjusted Indicators

There is a big difference between Yoantion Stock performing well and Yoantion Industrial 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 Yoantion Industrial'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
603696	2.46	0.18	0.04	0.45	3.52	(2.48)	5.32	(6.98)	20.02
002969	1.68	0.11	0.03	0.67	2.33	(1.83)	2.93	(3.41)	11.09
601665	1.12	0.04	0.01	(1.36)	1.36	(1.33)	2.30	(2.41)	9.11
002296	2.68	0.10	0.02	0.45	3.28	(2.75)	5.61	(5.96)	17.27
600599	2.92	0.10	0.03	0.14	3.18	(3.18)	5.01	(5.02)	10.06
605388	2.59	0.20	0.05	0.34	3.34	(2.63)	4.75	(6.41)	17.90
002991	2.02	0.52	0.26	3.68	1.56	(2.47)	5.11	(3.67)	14.09
600300	2.14	0.22	0.06	18.12	2.69	(2.51)	4.90	(4.00)	18.84

Be your own money manager

Our tools can tell you how much better you can do entering a position in Yoantion Industrial 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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