SSAW Hotels Correlations

301073 Stock

19.53 0.06 0.31%

The current 90-days correlation between SSAW Hotels Resorts and YiDong Electronics Technology is 0.47 (i.e., Very weak diversification). The correlation of SSAW Hotels 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.

SSAW Hotels Correlation With Market

Average diversification

The correlation between SSAW Hotels Resorts and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSAW Hotels Resorts and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SSAW Stock

0.41	600941	China Mobile Limited	Pair Corr
0.41	601857	PetroChina	Pair Corr
0.4	601988	Bank of China	Pair Corr
0.39	601398	Industrial and Commercial	Pair Corr
0.37	601939	China Construction Bank	Pair Corr
0.34	601288	Agricultural Bank	Pair Corr

Related Correlations Analysis

	603833	688111	688469	301123	300296	002119	002798	603115
603833		0.55	0.79	0.3	0.46	0.62	0.75	0.67	603833
688111	0.55		0.83	0.34	0.62	0.34	0.74	0.52	688111
688469	0.79	0.83		0.31	0.5	0.51	0.83	0.67	688469
301123	0.3	0.34	0.31		0.5	0.74	0.01	-0.04	301123
300296	0.46	0.62	0.5	0.5		0.44	0.44	0.14	300296
002119	0.62	0.34	0.51	0.74	0.44		0.19	0.21	002119
002798	0.75	0.74	0.83	0.01	0.44	0.19		0.76	002798
603115	0.67	0.52	0.67	-0.04	0.14	0.21	0.76		603115
	603833	688111	688469	301123	300296	002119	002798	603115

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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

688469	+ 0.83	688111
002798	+ 0.83	688469
688469	+ 0.79	603833
603115	+ 0.76	002798
002798	+ 0.75	603833
002798	+ 0.74	688111

High negative correlations

603115

- 0.04

301123

Risk-Adjusted Indicators

There is a big difference between SSAW Stock performing well and SSAW Hotels 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 SSAW Hotels' 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
603833	2.46	0.19	0.05	0.86	3.06	(2.73)	5.64	(5.80)	14.85
688111	3.07	(0.23)	0.00	(1.66)	0.00	0.00	8.44	(5.43)	17.07
688469	2.20	(0.10)	0.00	(0.12)	0.00	0.00	4.40	(4.33)	16.58
301123	2.79	0.15	0.04	0.16	3.59	(3.14)	5.78	(6.28)	13.30
300296	3.48	0.11	0.02	(0.19)	4.74	(3.48)	6.49	(8.13)	33.36
002119	3.01	0.41	0.11	13.49	3.33	(3.24)	6.98	(5.97)	16.54
002798	2.93	(0.13)	0.00	1.13	0.00	0.00	4.83	(9.95)	20.15
603115	1.58	(0.11)	0.00	(0.58)	0.00	0.00	4.08	(3.07)	9.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in SSAW Hotels 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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