Grandblue Environment Correlations

600323 Stock

23.25 0.60 2.65%

The current 90-days correlation between Grandblue Environment and Beijing Roborock Technology is 0.39 (i.e., Weak diversification). The correlation of Grandblue Environment 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.

Grandblue Environment Correlation With Market

Significant diversification

The correlation between Grandblue Environment Co and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grandblue Environment Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Grandblue Stock

0.91	601668	China State Construction	Pair Corr
0.88	601390	China Railway Group	Pair Corr
0.89	601186	China Railway Constr	Pair Corr
0.78	601398	Industrial and Commercial	Pair Corr
0.81	601628	China Life Insurance	Pair Corr
0.87	601318	Ping An Insurance	Pair Corr
0.87	601939	China Construction Bank	Pair Corr
0.63	002360	Shanxi Tond Chemical	Pair Corr
0.66	300391	Kangyue Technology	Pair Corr
0.74	002368	Taiji Computer Corp	Pair Corr
0.79	000555	Digital China Information	Pair Corr
0.63	300898	Panda Dairy Corp	Pair Corr
0.63	601615	Ming Yang Smart	Pair Corr
0.64	603260	Hoshine Silicon Ind	Pair Corr
0.81	300750	Contemporary Amperex	Pair Corr
0.87	688261	Suzhou Oriental Semi	Pair Corr
0.79	000425	XCMG Construction	Pair Corr
0.69	002074	Gotion High tech	Pair Corr
0.8	301015	Qingdao Baheal Medical	Pair Corr
0.73	600830	Sunny Loan Top	Pair Corr
0.73	600522	Jiangsu Zhongtian	Pair Corr
0.72	301359	Dongnan Electronics	Pair Corr
0.66	000792	Qinghai Salt Lake	Pair Corr
0.68	000009	China Baoan Group	Pair Corr
0.67	688235	BeiGene	Pair Corr
0.65	300981	Zhonghong Pulin Medical	Pair Corr
0.82	300946	Hengerda New Materials	Pair Corr
0.61	002084	Guangzhou Seagull Kitchen	Pair Corr
0.66	002887	Tianjin LVYIN Landscape	Pair Corr

Related Correlations Analysis

	688235	600519	688169	603444	600941	688399	000661	002371	300750
688235		0.73	0.39	0.58	0.25	0.21	0.73	0.65	0.63	688235
600519	0.73		0.22	0.65	0.45	0.28	0.86	0.69	0.79	600519
688169	0.39	0.22		0.59	0.02	0.49	0.0	-0.21	-0.07	688169
603444	0.58	0.65	0.59		0.62	0.23	0.42	0.24	0.45	603444
600941	0.25	0.45	0.02	0.62		-0.35	0.33	0.23	0.52	600941
688399	0.21	0.28	0.49	0.23	-0.35		0.14	0.0	-0.08	688399
000661	0.73	0.86	0.0	0.42	0.33	0.14		0.91	0.93	000661
002371	0.65	0.69	-0.21	0.24	0.23	0.0	0.91		0.89	002371
300750	0.63	0.79	-0.07	0.45	0.52	-0.08	0.93	0.89		300750
	688235	600519	688169	603444	600941	688399	000661	002371	300750

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

300750	+ 0.93	000661
002371	+ 0.91	000661
300750	+ 0.89	002371
000661	+ 0.86	600519
300750	+ 0.79	600519
600519	+ 0.73	688235

High negative correlations

688399	- 0.35	600941
002371	- 0.21	688169
300750	- 0.08	688399
300750	- 0.07	688169
002371	- 0.0	688399
000661	- 0.0	688169

Risk-Adjusted Indicators

There is a big difference between Grandblue Stock performing well and Grandblue Environment 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 Grandblue Environment'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
688235	2.45	0.04	0.01	0.11	3.08	(2.75)	5.84	(4.77)	18.86
600519	1.71	0.17	0.07	0.61	1.81	(2.11)	6.55	(2.98)	16.71
688169	3.04	(0.04)	0.00	0.87	0.00	0.00	5.74	(5.72)	34.80
603444	2.60	0.23	0.06	(1.22)	3.30	(2.69)	5.75	(4.79)	18.75
600941	1.05	0.17	0.14	(8.04)	0.96	(1.37)	3.09	(2.04)	8.38
688399	1.99	(0.14)	0.00	0.27	0.00	0.00	4.04	(4.33)	20.86
000661	2.35	0.41	0.18	6.53	2.01	(3.06)	7.55	(3.35)	17.13
002371	2.46	0.53	0.19	1.47	2.18	(2.72)	9.80	(3.99)	15.93
300750	2.77	0.60	0.16	(2.47)	3.05	(3.23)	7.94	(3.41)	33.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Grandblue Environment 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.

Did you try this?

Run Sync Your Broker Now

Sync Your Broker

Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.

All Next

Launch Module

Grandblue Environment Corporate Management

Elected by the shareholders, the Grandblue Environment's board of directors comprises two types of representatives: Grandblue Environment inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Grandblue. The board's role is to monitor Grandblue Environment's management team and ensure that shareholders' interests are well served. Grandblue Environment's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Grandblue Environment's outside directors are responsible for providing unbiased perspectives on the board's policies.

Yizhong Xie	VP	Profile
Lei Ming	VP	Profile
Yuyun Tang	Board Secretary	Profile
Hai Gao	VICE Pres	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC