CMST Development Correlations

600787 Stock

5.70 0.04 0.70%

The current 90-days correlation between CMST Development and Glodon Software Co is 0.53 (i.e., Very weak diversification). The correlation of CMST Development 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.

CMST Development Correlation With Market

Significant diversification

The correlation between CMST Development Co and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CMST Development Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CMST Stock

0.61	600519	Kweichow Moutai	Pair Corr
0.7	688298	Zhejiang Orient Gene	Pair Corr
0.77	300033	Hithink RoyalFlush Info	Pair Corr
0.74	688617	APT Medical	Pair Corr

Moving against CMST Stock

0.84	000859	Anhui Guofeng Plastic	Pair Corr
0.67	600984	Shaanxi Construction	Pair Corr
0.65	300308	Shandong Zhongji Ele	Pair Corr
0.62	301276	Beijing Jiaman Dress	Pair Corr
0.6	000973	FSPG Hi Tech	Pair Corr
0.55	688109	Hangzhou Pinming Software	Pair Corr
0.54	002371	NAURA Technology	Pair Corr
0.51	300502	Eoptolink Technology	Pair Corr
0.46	600493	Fujian Fynex Textile	Pair Corr
0.44	000975	Yintai Resources	Pair Corr
0.36	600887	Inner Mongolia Yili	Pair Corr
0.76	300478	Hangzhou Gaoxin Rubber	Pair Corr
0.67	300189	Hainan Shennong Tech	Pair Corr
0.64	001203	Inner Mongolia Dazhong	Pair Corr
0.63	300337	Yinbang Clad Material	Pair Corr
0.6	603353	Hunan Heshun Petroleum	Pair Corr
0.57	301201	ChengDa Pharmaceuticals	Pair Corr
0.57	002198	Guangdong Jiaying	Pair Corr
0.56	688239	Guizhou Aviation Tec	Pair Corr
0.55	301057	Zhejiang Huilong New	Pair Corr
0.54	002787	Suzhou Hycan Holdings	Pair Corr

Related Correlations Analysis

	002813	002410	300556	300496	600996	300339	002249
002813		-0.63	0.0	-0.46	0.58	-0.55	-0.33	002813
002410	-0.63		0.4	0.56	-0.73	0.9	0.63	002410
300556	0.0	0.4		-0.04	0.06	0.49	0.27	300556
300496	-0.46	0.56	-0.04		-0.5	0.51	0.36	300496
600996	0.58	-0.73	0.06	-0.5		-0.68	-0.29	600996
300339	-0.55	0.9	0.49	0.51	-0.68		0.51	300339
002249	-0.33	0.63	0.27	0.36	-0.29	0.51		002249
	002813	002410	300556	300496	600996	300339	002249

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

300339	+ 0.9	002410
002249	+ 0.63	002410
600996	+ 0.58	002813
300496	+ 0.56	002410
300339	+ 0.51	300496
002249	+ 0.51	300339

High negative correlations

600996	- 0.73	002410
300339	- 0.68	600996
002410	- 0.63	002813
300339	- 0.55	002813
600996	- 0.5	300496
300496	- 0.46	002813

Risk-Adjusted Indicators

There is a big difference between CMST Stock performing well and CMST Development 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 CMST Development'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
002813	2.03	0.27	0.09	(1.35)	1.85	(2.49)	9.98	(3.22)	15.63
002410	1.31	(0.18)	0.00	(0.49)	0.00	0.00	2.58	(2.36)	9.07
300556	1.47	(0.05)	0.00	0.19	0.00	0.00	2.80	(3.02)	8.98
300496	1.72	(0.21)	0.00	(0.58)	0.00	0.00	2.97	(3.66)	11.96
600996	2.99	0.46	0.13	1.30	2.78	(3.63)	10.01	(4.78)	20.06
300339	1.97	(0.27)	0.00	0.67	0.00	0.00	3.11	(4.82)	10.98
002249	2.81	0.02	0.00	0.10	3.30	(2.98)	9.96	(4.46)	17.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in CMST Development 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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