Sanan Optoelectronics Correlations
| 600703 Stock | 12.98 0.13 1.01% |
The current 90-days correlation between Sanan Optoelectronics and Nanjing Putian Telecommunications is 0.27 (i.e., Modest diversification). The correlation of Sanan Optoelectronics 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.
Sanan Optoelectronics Correlation With Market
Good diversification
The correlation between Sanan Optoelectronics Co and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sanan Optoelectronics Co and DJI in the same portfolio, assuming nothing else is changed.
Sanan |
The ability to find closely correlated positions to Sanan Optoelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sanan Optoelectronics 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 Sanan Optoelectronics - 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 Sanan Optoelectronics Co to buy it.
Moving together with Sanan Stock
| 0.85 | 605259 | Lutian Machinery | PairCorr |
| 0.93 | 001289 | China Longyuan Power | PairCorr |
| 0.65 | 605198 | Yantai North Andre | PairCorr |
| 0.93 | 300600 | Changshu Ruite Electric | PairCorr |
| 0.88 | 301177 | DR Limited | PairCorr |
| 0.77 | 601998 | China Citic Bank | PairCorr |
Moving against Sanan Stock
Related Correlations Analysis
| 0.88 | 0.93 | 0.44 | 0.93 | 0.91 | 0.27 | 200468 | ||
| 0.88 | 0.86 | 0.37 | 0.88 | 0.89 | 0.24 | 600322 | ||
| 0.93 | 0.86 | 0.37 | 0.88 | 0.9 | 0.22 | 300391 | ||
| 0.44 | 0.37 | 0.37 | 0.57 | 0.64 | 0.83 | 002168 | ||
| 0.93 | 0.88 | 0.88 | 0.57 | 0.94 | 0.45 | 300301 | ||
| 0.91 | 0.89 | 0.9 | 0.64 | 0.94 | 0.48 | 300013 | ||
| 0.27 | 0.24 | 0.22 | 0.83 | 0.45 | 0.48 | 600462 | ||
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Risk-Adjusted Indicators
There is a big difference between Sanan Stock performing well and Sanan Optoelectronics 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 Sanan Optoelectronics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 200468 | 3.47 | 1.36 | 0.31 | (3.57) | 2.94 | 9.69 | 20.07 | |||
| 600322 | 3.95 | 1.55 | 0.27 | (1.31) | 3.54 | 10.11 | 20.26 | |||
| 300391 | 5.26 | 1.40 | 0.20 | (1.92) | 5.15 | 20.05 | 35.52 | |||
| 002168 | 2.56 | 0.20 | 0.06 | 0.32 | 2.92 | 5.09 | 14.88 | |||
| 300301 | 2.80 | 0.82 | 0.16 | (0.84) | 3.21 | 7.69 | 24.85 | |||
| 300013 | 3.63 | 0.99 | 0.20 | 2.60 | 3.74 | 8.58 | 23.57 | |||
| 600462 | 2.53 | 0.26 | 0.06 | 0.77 | 2.85 | 5.22 | 10.56 |
Be your own money manager
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