Qilu Bank Correlations
| 601665 Stock | 5.78 0.23 4.14% |
The current 90-days correlation between Qilu Bank and Shantui Construction Machinery is 0.12 (i.e., Average diversification). The correlation of Qilu Bank 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.
Qilu Bank Correlation With Market
Good diversification
The correlation between Qilu Bank Co and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qilu Bank Co and DJI in the same portfolio, assuming nothing else is changed.
Qilu |
The ability to find closely correlated positions to Qilu Bank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Qilu Bank 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 Qilu Bank - 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 Qilu Bank Co to buy it.
Moving together with Qilu Stock
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Qilu Stock performing well and Qilu Bank 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 Qilu Bank'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 300512 | 2.00 | (0.05) | 0.00 | (0.02) | 0.00 | 3.51 | 12.61 | |||
| 002494 | 2.08 | 0.07 | 0.01 | 0.25 | 3.04 | 4.00 | 20.07 | |||
| 688261 | 2.34 | (0.35) | 0.00 | (0.45) | 0.00 | 4.91 | 14.59 | |||
| 000680 | 2.03 | 0.04 | (0.01) | 0.23 | 2.36 | 4.18 | 11.86 | |||
| 002833 | 1.53 | (0.01) | (0.03) | 0.07 | 1.89 | 3.00 | 13.19 | |||
| 688498 | 3.36 | (0.01) | (0.01) | 0.07 | 4.15 | 6.37 | 17.84 | |||
| 002126 | 1.64 | 0.13 | 0.02 | (2.77) | 1.60 | 3.93 | 11.22 | |||
| 002535 | 1.87 | 0.00 | (0.02) | 0.10 | 2.34 | 3.47 | 16.36 |
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