Beijing Shanghai Correlations

601816 Stock

5.70 0.02 0.35%

The current 90-days correlation between Beijing Shanghai High and Zhongrun Resources Investment is -0.09 (i.e., Good diversification). The correlation of Beijing Shanghai 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.

Beijing Shanghai Correlation With Market

Good diversification

The correlation between Beijing Shanghai High Speed and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Shanghai High Speed and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Beijing Stock

0.67	601288	Agricultural Bank	Pair Corr
0.65	601939	China Construction Bank	Pair Corr
0.85	601658	Postal Savings Bank	Pair Corr
0.72	601328	Bank of Communications	Pair Corr
0.85	601998	China Citic Bank	Pair Corr
0.67	300071	Spearhead Integrated	Pair Corr
0.82	002195	Shanghai 2345 Network	Pair Corr

Related Correlations Analysis

	000506	000548	000598	600110	600784	000900	600864
000506		-0.31	-0.11	-0.24	-0.43	-0.17	-0.14	000506
000548	-0.31		-0.27	0.69	0.71	0.85	0.36	000548
000598	-0.11	-0.27		0.14	0.06	-0.08	0.46	000598
600110	-0.24	0.69	0.14		0.66	0.7	0.44	600110
600784	-0.43	0.71	0.06	0.66		0.56	0.68	600784
000900	-0.17	0.85	-0.08	0.7	0.56		0.42	000900
600864	-0.14	0.36	0.46	0.44	0.68	0.42		600864
	000506	000548	000598	600110	600784	000900	600864

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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

000900	+ 0.85	000548
600784	+ 0.71	000548
000900	+ 0.7	600110
600110	+ 0.69	000548
600864	+ 0.68	600784
600784	+ 0.66	600110

High negative correlations

600784	- 0.43	000506
000548	- 0.31	000506
000598	- 0.27	000548
600110	- 0.24	000506
000900	- 0.17	000506
600864	- 0.14	000506

Risk-Adjusted Indicators

There is a big difference between Beijing Stock performing well and Beijing Shanghai 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 Beijing Shanghai'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
000506	3.68	0.89	0.19	3.77	3.80	(3.84)	5.10	(5.00)	10.23
000548	1.93	0.05	0.01	0.16	2.56	(1.95)	3.64	(4.09)	16.30
000598	1.27	(0.07)	0.00	(2.75)	0.00	0.00	2.30	(2.60)	7.69
600110	2.37	(0.10)	0.00	(0.08)	0.00	0.00	5.67	(3.69)	18.86
600784	1.50	(0.01)	(0.03)	0.08	1.87	(1.58)	2.94	(3.09)	12.53
000900	1.46	0.07	(0.01)	0.82	1.54	(1.81)	3.23	(2.75)	13.49
600864	2.59	0.07	(0.01)	(1.71)	2.97	(3.02)	6.13	(5.53)	17.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in Beijing Shanghai 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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