Long Yuan Correlations
| 600491 Stock | 3.98 0.16 3.86% |
The current 90-days correlation between Long Yuan Construction and Iat Automobile Technology is 0.52 (i.e., Very weak diversification). The correlation of Long Yuan 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.
Long Yuan Correlation With Market
Significant diversification
The correlation between Long Yuan Construction and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Long Yuan Construction and DJI in the same portfolio, assuming nothing else is changed.
Long |
The ability to find closely correlated positions to Long Yuan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Long Yuan 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 Long Yuan - 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 Long Yuan Construction to buy it.
Moving together with Long Stock
| 0.75 | 600519 | Kweichow Moutai | PairCorr |
| 0.88 | 601318 | Ping An Insurance | PairCorr |
| 0.77 | 600000 | Shanghai Pudong Deve | PairCorr |
| 0.83 | 600016 | China Minsheng Banking | PairCorr |
| 0.91 | 300750 | Contemporary Amperex | PairCorr |
Moving against Long Stock
Related Correlations Analysis
| 0.95 | 0.93 | 0.93 | 0.94 | 0.94 | 0.87 | 300825 | ||
| 0.95 | 0.96 | 0.92 | 0.96 | 0.88 | 0.85 | 300195 | ||
| 0.93 | 0.96 | 0.93 | 0.94 | 0.84 | 0.82 | 300823 | ||
| 0.93 | 0.92 | 0.93 | 0.96 | 0.91 | 0.94 | 002062 | ||
| 0.94 | 0.96 | 0.94 | 0.96 | 0.92 | 0.89 | 600742 | ||
| 0.94 | 0.88 | 0.84 | 0.91 | 0.92 | 0.91 | 603800 | ||
| 0.87 | 0.85 | 0.82 | 0.94 | 0.89 | 0.91 | 600131 | ||
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Risk-Adjusted Indicators
There is a big difference between Long Stock performing well and Long Yuan 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 Long Yuan'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 300825 | 2.83 | 0.64 | 0.13 | (0.66) | 2.94 | 9.23 | 25.82 | |||
| 300195 | 2.96 | 0.87 | 0.18 | (1.12) | 3.27 | 8.48 | 27.89 | |||
| 300823 | 2.65 | 0.60 | 0.13 | (1.52) | 3.07 | 7.22 | 26.30 | |||
| 002062 | 1.90 | 0.40 | 0.12 | (1.65) | 1.93 | 4.27 | 15.95 | |||
| 600742 | 1.67 | 0.45 | 0.15 | (2.71) | 1.76 | 3.88 | 12.33 | |||
| 603800 | 2.73 | 0.45 | 0.10 | (0.72) | 2.50 | 8.57 | 19.67 | |||
| 600131 | 2.37 | 0.33 | 0.10 | 0.88 | 2.53 | 4.83 | 16.17 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Long Yuan 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?
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