EmbedWay TechCorp Correlations

603496 Stock

22.89 0.60 2.69%

The correlation of EmbedWay TechCorp 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.

EmbedWay TechCorp Correlation With Market

Good diversification

The correlation between EmbedWay TechCorp and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EmbedWay TechCorp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EmbedWay Stock

0.76	600519	Kweichow Moutai	Pair Corr
0.8	002594	BYD Co	Pair Corr
0.76	200596	Anhui Gujing Distillery	Pair Corr
0.7	000596	Anhui Gujing Distillery	Pair Corr
0.68	300760	Shenzhen Mindray Bio	Pair Corr

Related Correlations Analysis

	002966	601187	002296	508098	002173	000402	002935	603979
002966		0.62	0.46	0.55	-0.12	-0.22	-0.13	-0.41	002966
601187	0.62		0.73	0.27	0.53	0.4	0.19	-0.61	601187
002296	0.46	0.73		-0.1	0.46	0.59	0.45	-0.31	002296
508098	0.55	0.27	-0.1		-0.05	-0.49	-0.42	-0.53	508098
002173	-0.12	0.53	0.46	-0.05		0.61	0.48	-0.28	002173
000402	-0.22	0.4	0.59	-0.49	0.61		0.43	0.04	000402
002935	-0.13	0.19	0.45	-0.42	0.48	0.43		0.18	002935
603979	-0.41	-0.61	-0.31	-0.53	-0.28	0.04	0.18		603979
	002966	601187	002296	508098	002173	000402	002935	603979

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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

002296	+ 0.73	601187
601187	+ 0.62	002966
000402	+ 0.61	002173
000402	+ 0.59	002296
508098	+ 0.55	002966
002173	+ 0.53	601187

High negative correlations

603979	- 0.61	601187
603979	- 0.53	508098
000402	- 0.49	508098
002935	- 0.42	508098
603979	- 0.41	002966
603979	- 0.31	002296

Risk-Adjusted Indicators

There is a big difference between EmbedWay Stock performing well and EmbedWay TechCorp 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 EmbedWay TechCorp'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
002966	0.99	0.05	0.05	(11.50)	1.11	(1.18)	2.12	(1.83)	6.99
601187	1.23	0.07	0.05	0.58	1.47	(1.35)	2.90	(2.42)	8.17
002296	2.73	0.09	0.03	0.19	3.50	(2.67)	5.43	(5.96)	17.27
508098	0.71	0.37	0.57	(5.70)	0.00	(1.32)	1.92	(0.78)	6.55
002173	3.61	0.31	0.06	0.88	4.75	(3.54)	10.03	(8.55)	20.05
000402	2.90	(0.03)	0.00	(0.09)	0.00	0.00	8.06	(5.53)	18.23
002935	2.26	(0.02)	0.00	(0.07)	0.00	0.00	4.11	(5.40)	17.41
603979	1.75	(0.13)	0.00	(0.84)	0.00	0.00	3.67	(3.53)	10.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in EmbedWay TechCorp 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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EmbedWay TechCorp Corporate Management

Elected by the shareholders, the EmbedWay TechCorp's board of directors comprises two types of representatives: EmbedWay TechCorp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of EmbedWay. The board's role is to monitor EmbedWay TechCorp's management team and ensure that shareholders' interests are well served. EmbedWay TechCorp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, EmbedWay TechCorp's outside directors are responsible for providing unbiased perspectives on the board's policies.

Xiang Wang	Secretary GM	Profile
Fang Qin	Chief Officer	Profile
Ming Huang	Deputy Manager	Profile
Shi Zhang	Deputy Manager	Profile

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