Senci Electric Correlations

Stocks . China . 
Stock . Senci Electric Machinery
603109 Stock   21.76  0.76  3.37%   
The current 90-days correlation between Senci Electric Machinery and Zhonghang Electronic Measuring is 0.19 (i.e., Average diversification). The correlation of Senci Electric 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.

Senci Electric Correlation With Market

Significant diversification

The correlation between Senci Electric Machinery and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Senci Electric Machinery and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Senci Electric could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Senci Electric 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 Senci Electric - 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 Senci Electric Machinery to buy it.

Moving together with Senci Stock

  0.89600036 China Merchants BankPairCorr
  0.85601166 Industrial BankPairCorr
  0.61601998 China Citic BankPairCorr
  0.73300516 Hubei Jiuzhiyang InfraredPairCorr
  0.72688520 Sinocelltech GroupPairCorr
  0.88603259 WuXi AppTecPairCorr
  0.81300651 Jiangsu Jinling SportsPairCorr
  0.81600363 Jiangxi Lianchuang OptoPairCorr
  0.8601665 Qilu BankPairCorr
  0.8600496 Changjiang Jinggong SteelPairCorr
  0.89300163 Ningbo Xianfeng NewPairCorr
  0.83603193 Runben BiotechnologyPairCorr
  0.7301408 Anhui Huaren HealthPairCorr
  0.7300463 Maccura BiotechnologyPairCorr
  0.9300007 Henan Hanwei ElectronicsPairCorr
  0.66002397 Hunan Mendale HometextilePairCorr
  0.66300167 Shenzhen Dvision VideoPairCorr
  0.75001319 Winstech Precision HldgPairCorr
  0.67601336 New China LifePairCorr
  0.85001228 Yongtaiyun ChemicalPairCorr
  0.79300353 Kyland TechnologyPairCorr
  0.83688580 Nanjing Vishee MedicalPairCorr
  0.73002690 Hefei Meiya OptoelecPairCorr
  0.64301301 Yili Chuanning BiotePairCorr
  0.72300184 Wuhan PS InformationPairCorr
  0.77002056 Hengdian Group DMEGCPairCorr
  0.65603039 Shanghai Weaver NetworkPairCorr

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   
688047
+ 0.89
688027
688318
+ 0.87
600816
688318
+ 0.78
688027
600106
+ 0.69
688027
600106
+ 0.66
688047
688582
+ 0.64
300114
  
High negative correlations   
688582
- 0.63
300561
300561
- 0.51
300114
300561
- 0.49
688443
688582
- 0.47
600816
688256
- 0.33
688443
600816
- 0.26
688256

Risk-Adjusted Indicators

There is a big difference between Senci Stock performing well and Senci Electric 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 Senci Electric'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
688443  2.37  0.08  0.10 (0.74) 2.63 
(2.63)
 5.76 
(4.65)
 14.05 
688256  3.19  0.13  0.05  0.11  4.01 
(3.68)
 8.86 
(6.15)
 27.61 
300114  1.39  0.10  0.08  0.62  1.69 
(3.37)
 5.21 
(3.69)
 12.24 
688027  2.15 (0.27) 0.00  2.44  0.00 
 0.00 
 4.19 
(4.84)
 11.67 
688047  2.18 (0.13) 0.00  2.02  0.00 
 0.00 
 4.95 
(4.42)
 14.75 
600816  1.32 (0.34) 0.00 (28.24) 0.00 
 0.00 
 2.71 
(4.11)
 9.04 
300561  4.82 (0.79) 0.00 (0.89) 0.00 
 0.00 
 10.07 
(15.36)
 40.01 
688318  2.16 (0.42) 0.00  2.50  0.00 
 0.00 
 4.69 
(5.56)
 13.15 
688582  2.45  0.24  0.15 (0.93) 2.85 
(2.59)
 5.21 
(3.88)
 18.87 
600106  1.51 (0.07) 0.00  4.43  0.00 
 0.00 
 3.34 
(3.13)
 8.03 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Senci Electric 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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