Weihai Honglin Correlations

301439 Stock

13.39 0.57 4.08%

The current 90-days correlation between Weihai Honglin Electronic and Chengdu Kanghua Biological is 0.83 (i.e., Very poor diversification). The correlation of Weihai Honglin 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.

Weihai Honglin Correlation With Market

Good diversification

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

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

Moving together with Weihai Stock

0.82	600519	Kweichow Moutai	Pair Corr
0.93	601318	Ping An Insurance	Pair Corr
0.82	600000	Shanghai Pudong Deve	Pair Corr
0.87	600016	China Minsheng Banking	Pair Corr
0.95	300750	Contemporary Amperex	Pair Corr

Moving against Weihai Stock

0.42

600028

China Petroleum Chemical

Pair Corr

Related Correlations Analysis

	300841	603392	688137	601600	300364	001299	000995	600223	605168
300841		0.82	0.92	0.87	0.86	0.85	0.78	0.93	0.84	300841
603392	0.82		0.77	0.76	0.65	0.65	0.7	0.86	0.72	603392
688137	0.92	0.77		0.85	0.92	0.95	0.92	0.93	0.96	688137
601600	0.87	0.76	0.85		0.84	0.76	0.79	0.9	0.82	601600
300364	0.86	0.65	0.92	0.84		0.91	0.88	0.82	0.89	300364
001299	0.85	0.65	0.95	0.76	0.91		0.89	0.85	0.9	001299
000995	0.78	0.7	0.92	0.79	0.88	0.89		0.86	0.94	000995
600223	0.93	0.86	0.93	0.9	0.82	0.85	0.86		0.89	600223
605168	0.84	0.72	0.96	0.82	0.89	0.9	0.94	0.89		605168
	300841	603392	688137	601600	300364	001299	000995	600223	605168

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Weihai Stock performing well and Weihai Honglin 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 Weihai Honglin'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
300841	2.70	0.31	0.04	(0.28)	3.41	(3.11)	4.85	(5.63)	32.68
603392	1.83	0.18	0.02	(0.42)	2.03	(2.24)	3.90	(3.21)	16.51
688137	1.91	0.27	0.06	(3.10)	2.60	(2.05)	5.14	(3.13)	22.24
601600	2.14	0.30	0.07	1.39	2.69	(2.29)	6.09	(3.93)	17.74
300364	4.03	0.84	0.14	(1.78)	4.27	(4.92)	9.53	(7.32)	34.75
001299	1.79	0.27	0.06	(1.17)	2.07	(1.98)	4.14	(3.42)	15.29
000995	3.70	0.70	0.13	(9.19)	4.01	(3.86)	10.00	(6.74)	20.01
600223	1.82	0.15	0.02	(1.41)	2.36	(1.97)	4.58	(3.11)	16.41
605168	2.81	0.48	0.10	(4.52)	3.14	(3.02)	8.18	(5.78)	19.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Weihai Honglin 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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