Gome Telecom Correlations

600898 Stock

1.90 0.06 3.26%

The current 90-days correlation between Gome Telecom Equipment and Kweichow Moutai Co is 0.09 (i.e., Significant diversification). The correlation of Gome Telecom 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.

Gome Telecom Correlation With Market

Good diversification

The correlation between Gome Telecom Equipment and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gome Telecom Equipment and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Gome Stock

0.68	605259	Lutian Machinery	Pair Corr
0.72	000678	Xiangyang Automobile	Pair Corr
0.67	601933	Yonghui Superstores	Pair Corr
0.65	000688	Guocheng Mining	Pair Corr

Moving against Gome Stock

0.78	600025	Huaneng Lancang River	Pair Corr
0.68	601857	PetroChina	Pair Corr
0.53	601298	Qingdao Port Interna	Pair Corr
0.49	600236	Guangxi Guiguan Electric	Pair Corr

Related Correlations Analysis

	600519	300750	603444	688169	002594	200596	000596	002371	300760
600519		0.85	0.74	0.41	0.82	0.94	0.93	0.79	0.92	600519
300750	0.85		0.74	0.45	0.94	0.91	0.84	0.93	0.89	300750
603444	0.74	0.74		0.75	0.83	0.67	0.63	0.57	0.79	603444
688169	0.41	0.45	0.75		0.65	0.35	0.27	0.2	0.49	688169
002594	0.82	0.94	0.83	0.65		0.86	0.76	0.81	0.87	002594
200596	0.94	0.91	0.67	0.35	0.86		0.96	0.91	0.92	200596
000596	0.93	0.84	0.63	0.27	0.76	0.96		0.88	0.93	000596
002371	0.79	0.93	0.57	0.2	0.81	0.91	0.88		0.85	002371
300760	0.92	0.89	0.79	0.49	0.87	0.92	0.93	0.85		300760
	600519	300750	603444	688169	002594	200596	000596	002371	300760

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Risk-Adjusted Indicators

There is a big difference between Gome Stock performing well and Gome Telecom 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 Gome Telecom'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
600519	1.68	0.18	0.00	(0.26)	1.87	(2.11)	6.55	(2.98)	16.71
300750	2.64	0.80	0.17	(0.78)	2.98	(3.20)	7.94	(3.41)	33.42
603444	2.75	0.03	(0.02)	0.24	3.16	(3.21)	5.21	(4.79)	18.75
688169	3.25	0.20	(0.02)	(0.02)	4.31	(3.50)	6.51	(5.75)	34.80
002594	1.89	0.42	0.10	(0.46)	1.91	(2.13)	5.74	(3.34)	14.84
200596	1.83	0.22	0.03	(0.59)	1.97	(2.20)	4.80	(2.38)	18.31
000596	2.78	0.14	0.00	(0.34)	2.97	(3.39)	9.98	(4.36)	20.00
002371	2.32	0.50	0.15	(5.64)	2.07	(2.61)	9.80	(3.99)	15.93
300760	2.24	0.19	0.01	(0.43)	2.69	(2.47)	9.90	(4.56)	19.76

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gome Telecom 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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