Industrial Securities Correlations

601377 Stock

6.44 0.10 1.58%

The current 90-days correlation between Industrial Securities and Beijing Roborock Technology is 0.66 (i.e., Poor diversification). The correlation of Industrial Securities 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.

Industrial Securities Correlation With Market

Significant diversification

The correlation between Industrial Securities 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 Industrial Securities Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Industrial Stock

0.89	600519	Kweichow Moutai	Pair Corr
0.96	601318	Ping An Insurance	Pair Corr
0.87	600000	Shanghai Pudong Deve	Pair Corr
0.91	600016	China Minsheng Banking	Pair Corr
0.97	300750	Contemporary Amperex	Pair Corr
0.98	002236	Zhejiang Dahua Technology	Pair Corr
0.82	000553	ADAMA	Pair Corr
0.9	600742	Changchun Faway Auto	Pair Corr
0.92	900957	Shanghai Lingyun Ind	Pair Corr

Related Correlations Analysis

	688235	600519	688169	603444	600941	688399	000661	002371	300750
688235		0.81	0.46	0.78	0.47	0.33	0.86	0.79	0.85	688235
600519	0.81		0.33	0.72	0.58	0.48	0.88	0.77	0.84	600519
688169	0.46	0.33		0.71	0.28	0.44	0.21	0.02	0.23	688169
603444	0.78	0.72	0.71		0.53	0.52	0.66	0.5	0.66	603444
600941	0.47	0.58	0.28	0.53		0.19	0.39	0.26	0.38	600941
688399	0.33	0.48	0.44	0.52	0.19		0.39	0.25	0.35	688399
000661	0.86	0.88	0.21	0.66	0.39	0.39		0.94	0.98	000661
002371	0.79	0.77	0.02	0.5	0.26	0.25	0.94		0.94	002371
300750	0.85	0.84	0.23	0.66	0.38	0.35	0.98	0.94		300750
	688235	600519	688169	603444	600941	688399	000661	002371	300750

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Risk-Adjusted Indicators

There is a big difference between Industrial Stock performing well and Industrial Securities 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 Industrial Securities' 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
688235	2.56	0.27	0.06	0.69	2.93	(2.72)	6.23	(4.77)	18.86
600519	1.69	0.08	0.00	0.29	1.87	(1.99)	6.55	(2.98)	16.71
688169	3.33	0.15	0.02	0.56	4.18	(3.74)	6.51	(5.72)	34.80
603444	2.68	0.21	0.04	0.57	3.13	(3.04)	5.21	(4.79)	18.75
600941	1.01	0.01	(0.08)	0.16	1.15	(1.15)	2.05	(2.04)	8.38
688399	1.86	(0.02)	0.00	0.15	0.00	0.00	4.07	(4.33)	20.86
000661	2.30	0.47	0.15	(8.64)	2.03	(2.89)	7.55	(3.42)	17.13
002371	2.36	0.43	0.14	1.18	2.13	(2.66)	9.80	(3.99)	15.93
300750	2.74	0.69	0.16	(256.67)	3.13	(3.31)	7.94	(3.41)	33.42

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Our tools can tell you how much better you can do entering a position in Industrial Securities 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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