Shanghai Broadband Correlations

Stocks . China . 
Stock . Shanghai Broadband Technology
600608 Stock   4.20  0.24  6.06%   
The current 90-days correlation between Shanghai Broadband and Jiangxi Hengda Hi Tech is 0.21 (i.e., Modest diversification). The correlation of Shanghai Broadband 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.

Shanghai Broadband Correlation With Market

Significant diversification

The correlation between Shanghai Broadband Technology and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Broadband Technology and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shanghai Broadband could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shanghai Broadband 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 Shanghai Broadband - 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 Shanghai Broadband Technology to buy it.

Moving together with Shanghai Stock

  0.69002493 Rongsheng PetrochemicalPairCorr
  0.81600010 Inner Mongolia BaoTouPairCorr
  0.87002460 Jiangxi Ganfeng LithiumPairCorr
  0.75603260 Hoshine Silicon IndPairCorr
  0.65600160 Zhejiang JuhuaPairCorr
  0.68000661 Changchun High NewPairCorr
  0.78002371 NAURA TechnologyPairCorr
  0.7300750 Contemporary AmperexPairCorr
  0.75000678 Xiangyang AutomobilePairCorr
  0.68300364 COL Digital PublishingPairCorr
  0.66688137 Suzhou NovoproteinPairCorr

Moving against Shanghai Stock

  0.57600547 Shandong Gold MiningPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Broadband 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 Shanghai Broadband'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 Shanghai Broadband 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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