BOTH Engineering Correlations

601133 Stock

17.48 0.37 2.07%

The current 90-days correlation between BOTH Engineering Tec and Loctek Ergonomic Technology is 0.13 (i.e., Average diversification). The correlation of BOTH Engineering 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.

BOTH Engineering Correlation With Market

Average diversification

The correlation between BOTH Engineering Technology and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BOTH Engineering Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BOTH Stock

0.61	601198	Dongxing Sec	Pair Corr
0.72	300648	Fujian Nebula Electronics	Pair Corr

Moving against BOTH Stock

0.57	688536	3Peak Inc	Pair Corr
0.42	601059	Cinda Securities	Pair Corr
0.38	000889	ZJBC Information Tec	Pair Corr
0.32	688235	BeiGene	Pair Corr
0.31	688428	InnoCare Pharma	Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	002952	603199	516220	002096	002999	603269
601615		0.12	-0.73	0.78	-0.37	-0.01	-0.39	0.46	-0.28	0.7	601615
159681	0.12		0.1	-0.02	-0.41	0.25	0.21	0.14	-0.02	0.33	159681
159005	-0.73	0.1		-0.77	0.26	0.22	0.57	-0.26	0.13	-0.55	159005
300729	0.78	-0.02	-0.77		-0.27	-0.07	-0.4	0.51	0.06	0.51	300729
002952	-0.37	-0.41	0.26	-0.27		-0.28	-0.03	-0.51	0.09	-0.24	002952
603199	-0.01	0.25	0.22	-0.07	-0.28		0.46	0.21	0.05	0.02	603199
516220	-0.39	0.21	0.57	-0.4	-0.03	0.46		0.3	0.47	-0.53	516220
002096	0.46	0.14	-0.26	0.51	-0.51	0.21	0.3		0.49	-0.02	002096
002999	-0.28	-0.02	0.13	0.06	0.09	0.05	0.47	0.49		-0.57	002999
603269	0.7	0.33	-0.55	0.51	-0.24	0.02	-0.53	-0.02	-0.57		603269
	601615	159681	159005	300729	002952	603199	516220	002096	002999	603269

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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

300729	+ 0.78	601615
603269	+ 0.7	601615
516220	+ 0.57	159005
002096	+ 0.51	300729
603269	+ 0.51	300729
002999	+ 0.49	002096

High negative correlations

300729	- 0.77	159005
159005	- 0.73	601615
603269	- 0.57	002999
603269	- 0.55	159005
603269	- 0.53	516220
002096	- 0.51	002952

Risk-Adjusted Indicators

There is a big difference between BOTH Stock performing well and BOTH Engineering 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 BOTH Engineering'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
601615	1.88	(0.09)	0.00	2.42	0.00	0.00	4.25	(4.36)	12.63
159681	1.67	0.01	(0.01)	0.08	1.99	(1.93)	3.47	(3.55)	7.36
159005	0.01	(0.01)	0.00	(3.38)	0.00	0.00	0.09	0.00	0.10
300729	0.95	(0.16)	0.00	(0.21)	0.00	0.00	2.05	(2.35)	6.25
002952	2.13	0.16	0.04	(1.49)	2.21	(2.64)	9.99	(3.90)	16.60
603199	0.86	0.02	(0.05)	(0.15)	1.09	(0.85)	2.07	(1.64)	5.76
516220	1.29	0.21	0.07	0.65	1.37	(1.88)	2.56	(3.45)	7.10
002096	0.96	(0.08)	0.00	(0.06)	0.00	0.00	1.83	(2.08)	6.87
002999	1.13	0.04	(0.01)	0.25	1.77	(1.06)	1.84	(2.51)	7.89
603269	2.15	(0.20)	0.00	(0.14)	0.00	0.00	4.58	(5.26)	14.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in BOTH Engineering 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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