Inner Mongolia Correlations

600010 Stock

1.82 0.02 1.09%

The current 90-days correlation between Inner Mongolia BaoTou and Zhejiang Construction Investment is 0.15 (i.e., Average diversification). The correlation of Inner Mongolia 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.

Inner Mongolia Correlation With Market

Good diversification

The correlation between Inner Mongolia BaoTou and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inner Mongolia BaoTou and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Inner Stock

0.74	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.76	603007	Jiangsu Flowers King Split	Pair Corr
0.74	688318	Shenzhen Fortune Trend	Pair Corr
0.81	002124	Ningbo Tech Bank	Pair Corr
0.86	300033	Hithink RoyalFlush Info	Pair Corr
0.68	000909	Soyea Technology	Pair Corr
0.7	600608	Shanghai Broadband	Pair Corr
0.66	605089	Suzhou Weizhixiang Food	Pair Corr
0.67	603226	Vohringer Home Technology	Pair Corr
0.9	600568	Zhongzhu Medical Holdings	Pair Corr
0.64	601238	Guangzhou Automobile	Pair Corr
0.83	600666	Aurora Optoelectronics	Pair Corr

Moving against Inner Stock

0.59	600547	Shandong Gold Mining	Pair Corr
0.55	601899	Zijin Mining Group	Pair Corr

Related Correlations Analysis

	600805	002761	002935	002084	002021	603615	603277
600805		0.65	0.46	0.91	0.82	0.21	-0.27	600805
002761	0.65		0.27	0.75	0.4	0.38	-0.2	002761
002935	0.46	0.27		0.51	0.37	-0.13	0.27	002935
002084	0.91	0.75	0.51		0.73	0.18	-0.12	002084
002021	0.82	0.4	0.37	0.73		0.22	-0.35	002021
603615	0.21	0.38	-0.13	0.18	0.22		-0.36	603615
603277	-0.27	-0.2	0.27	-0.12	-0.35	-0.36		603277
	600805	002761	002935	002084	002021	603615	603277

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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

002084	+ 0.91	600805
002021	+ 0.82	600805
002084	+ 0.75	002761
002021	+ 0.73	002084
002761	+ 0.65	600805
002084	+ 0.51	002935

High negative correlations

603277	- 0.36	603615
603277	- 0.35	002021
603277	- 0.27	600805
603277	- 0.2	002761
603615	- 0.13	002935
603277	- 0.12	002084

Risk-Adjusted Indicators

There is a big difference between Inner Stock performing well and Inner Mongolia 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 Inner Mongolia'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
600805	1.85	0.13	0.06	(0.93)	2.26	(1.99)	3.33	(3.69)	13.91
002761	2.20	(0.05)	0.00	0.10	0.00	0.00	6.18	(4.77)	20.02
002935	2.15	(0.07)	0.00	(0.17)	0.00	0.00	4.08	(5.08)	17.41
002084	2.46	0.09	0.02	0.94	3.60	(2.29)	4.21	(5.24)	15.22
002021	3.36	0.56	0.15	(5.14)	3.31	(3.90)	10.00	(6.98)	18.98
603615	3.24	0.28	0.07	(0.52)	3.59	(3.53)	7.77	(5.27)	20.02
603277	1.42	0.07	0.04	0.34	1.61	(1.58)	3.57	(2.19)	10.14

Be your own money manager

Our tools can tell you how much better you can do entering a position in Inner Mongolia 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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