Jiangsu Zhongtian Correlations

Stocks . China . 
Stock . Jiangsu Zhongtian Technology
600522 Stock   15.07  0.33  2.14%   
The current 90-days correlation between Jiangsu Zhongtian and Beijing Roborock Technology is 0.57 (i.e., Very weak diversification). The correlation of Jiangsu Zhongtian 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.

Jiangsu Zhongtian Correlation With Market

Significant diversification

The correlation between Jiangsu Zhongtian Technology and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Zhongtian Technology and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Jiangsu Zhongtian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jiangsu Zhongtian 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 Jiangsu Zhongtian - 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 Jiangsu Zhongtian Technology to buy it.

Moving together with Jiangsu Stock

  0.82200468 Nanjing Putian TelecPairCorr
  0.68600322 Tianjin Realty DevelPairCorr
  0.89300391 Kangyue TechnologyPairCorr
  0.71000692 Shenyang Huitian ThermalPairCorr
  0.77300301 Shenzhen Changfang LightPairCorr
  0.71300013 Jiangsu Xinning ModernPairCorr
  0.86688325 Guangdong CellwisePairCorr
  0.63002217 Holitech TechnologyPairCorr
  0.82000560 5I5j Holding GroupPairCorr
  0.9688119 Sinosteel Luonai MatPairCorr
  0.69603969 Tianjin Silvery DragonPairCorr
  0.79300880 Ningbo Jianan ElectronicsPairCorr
  0.68002946 New Hope DairyPairCorr
  0.67000428 Huatian Hotel GroupPairCorr
  0.87300815 Eit EnvironmentalPairCorr
  0.72002584 Xilong ChemicalPairCorr
  0.84002893 Beijing HuaYuanYiTongPairCorr
  0.84300433 Lens TechnologyPairCorr
  0.75600719 Dalian Thermal PowerPairCorr
  0.81605128 Shanghai Yanpu MetalPairCorr
  0.87300359 Qtone Education GroupPairCorr
  0.62002303 Shenzhen MYS EnvironPairCorr
  0.68603068 Beken CorpPairCorr
  0.81688082 ACM Research ShanghaiPairCorr
  0.85688047 Loongson Technology CorpPairCorr
  0.76000506 Zhongrun ResourcesPairCorr
  0.76603313 HealthcarePairCorr
  0.91002466 Sichuan Tianqi LithiumPairCorr
  0.88000661 Changchun High NewPairCorr
  0.87688507 Shanghai Suochen InfPairCorr
  0.78300825 Iat Automobile TechnologyPairCorr
  0.9600498 Fiberhome TelecommunicatioPairCorr

Related Correlations Analysis

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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   
000596
+ 0.94
200596
000596
+ 0.91
600519
300760
+ 0.91
000596
200596
+ 0.9
600519
300760
+ 0.9
002594
300760
+ 0.89
600519
  
High negative correlations   
688169
- 0.08
300750

Risk-Adjusted Indicators

There is a big difference between Jiangsu Stock performing well and Jiangsu Zhongtian 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 Jiangsu Zhongtian'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jiangsu Zhongtian 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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