Hangzhou Minsheng Correlations

301507 Stock

12.25 0.08 0.65%

The current 90-days correlation between Hangzhou Minsheng and Boai NKY Pharmaceuticals is 0.3 (i.e., Weak diversification). The correlation of Hangzhou Minsheng 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.

Hangzhou Minsheng Correlation With Market

Significant diversification

The correlation between Hangzhou Minsheng Healthcare and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Minsheng Healthcare and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hangzhou Stock

0.91	002188	Bus Online	Pair Corr
0.86	600898	Gome Telecom Equipment	Pair Corr
0.79	000980	Zotye Automobile	Pair Corr

Moving against Hangzhou Stock

0.7

300866

Anker Innovations

Pair Corr

Related Correlations Analysis

	300109	601615	159681	159005	300729	515000	301028	688391	600742	516220
300109		0.55	0.22	0.25	0.29	0.26	0.26	0.17	0.31	0.07	300109
601615	0.55		0.76	-0.46	0.84	0.46	0.67	0.78	0.75	0.71	601615
159681	0.22	0.76		-0.66	0.7	0.8	0.82	0.94	0.79	0.95	159681
159005	0.25	-0.46	-0.66		-0.61	-0.26	-0.55	-0.78	-0.63	-0.76	159005
300729	0.29	0.84	0.7	-0.61		0.33	0.55	0.75	0.81	0.73	300729
515000	0.26	0.46	0.8	-0.26	0.33		0.61	0.65	0.46	0.68	515000
301028	0.26	0.67	0.82	-0.55	0.55	0.61		0.81	0.59	0.75	301028
688391	0.17	0.78	0.94	-0.78	0.75	0.65	0.81		0.79	0.91	688391
600742	0.31	0.75	0.79	-0.63	0.81	0.46	0.59	0.79		0.8	600742
516220	0.07	0.71	0.95	-0.76	0.73	0.68	0.75	0.91	0.8		516220
	300109	601615	159681	159005	300729	515000	301028	688391	600742	516220

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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

516220	+ 0.95	159681
688391	+ 0.94	159681
516220	+ 0.91	688391
300729	+ 0.84	601615
301028	+ 0.82	159681
600742	+ 0.81	300729

High negative correlations

688391	- 0.78	159005
516220	- 0.76	159005
159005	- 0.66	159681
600742	- 0.63	159005
300729	- 0.61	159005
301028	- 0.55	159005

Risk-Adjusted Indicators

There is a big difference between Hangzhou Stock performing well and Hangzhou Minsheng 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 Hangzhou Minsheng'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
300109	2.76	0.18	0.03	2.35	2.84	(3.34)	7.26	(5.29)	26.28
601615	1.91	(0.31)	0.00	(0.25)	0.00	0.00	3.54	(4.08)	15.94
159681	1.48	(0.09)	0.00	0.78	0.00	0.00	3.23	(3.74)	9.42
159005	0.01	0.00	0.00	0.71	0.00	0.00	0.00	0.00	0.15
300729	1.80	(0.11)	0.00	(0.38)	0.00	0.00	3.44	(4.21)	9.68
515000	1.52	0.02	(0.04)	(0.57)	1.70	(1.89)	3.17	(3.01)	8.54
301028	1.84	(0.04)	0.00	(1.62)	0.00	0.00	4.17	(3.52)	9.48
688391	2.15	(0.28)	0.00	(0.78)	0.00	0.00	3.62	(4.87)	11.59
600742	1.49	(0.05)	0.00	(0.53)	0.00	0.00	3.88	(3.66)	10.72
516220	0.93	(0.07)	0.00	1.27	0.00	0.00	1.61	(1.59)	6.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hangzhou Minsheng 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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