Juewei Food Correlations

603517 Stock

14.76 0.01 0.07%

The current 90-days correlation between Juewei Food and Semiconductor Manufacturing Intl is 0.4 (i.e., Very weak diversification). The correlation of Juewei Food 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.

Juewei Food Correlation With Market

Good diversification

The correlation between Juewei Food Co and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Juewei Food Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Juewei Stock

0.77	601628	China Life Insurance	Pair Corr
0.77	601059	Cinda Securities	Pair Corr
0.79	688072	Piotech Inc A	Pair Corr
0.78	688126	National Silicon Industry	Pair Corr
0.76	688293	Shanghai OPM Biosciences	Pair Corr
0.74	000504	Nanhua Bio Medicine	Pair Corr
0.67	600383	Gemdale Corp	Pair Corr
0.65	000061	Shenzhen Agricultural	Pair Corr

Related Correlations Analysis

	688981	600084	300651	688123	300046	300223	603501	600901
688981		-0.33	-0.44	0.61	0.06	0.23	0.68	0.5	688981
600084	-0.33		0.84	-0.44	0.62	0.61	0.04	0.02	600084
300651	-0.44	0.84		-0.29	0.4	0.46	-0.18	-0.05	300651
688123	0.61	-0.44	-0.29		-0.18	-0.02	0.42	0.32	688123
300046	0.06	0.62	0.4	-0.18		0.78	0.53	0.35	300046
300223	0.23	0.61	0.46	-0.02	0.78		0.61	0.28	300223
603501	0.68	0.04	-0.18	0.42	0.53	0.61		0.55	603501
600901	0.5	0.02	-0.05	0.32	0.35	0.28	0.55		600901
	688981	600084	300651	688123	300046	300223	603501	600901

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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

300651	+ 0.84	600084
300223	+ 0.78	300046
603501	+ 0.68	688981
300046	+ 0.62	600084
688123	+ 0.61	688981
300223	+ 0.61	600084

High negative correlations

688123	- 0.44	600084
300651	- 0.44	688981
600084	- 0.33	688981
688123	- 0.29	300651
300046	- 0.18	688123
603501	- 0.18	300651

Risk-Adjusted Indicators

There is a big difference between Juewei Stock performing well and Juewei Food 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 Juewei Food'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
688981	2.48	0.10	0.02	(0.37)	2.78	(2.66)	6.09	(4.80)	15.41
600084	1.94	(0.14)	0.00	0.70	0.00	0.00	3.60	(4.27)	18.34
300651	2.23	(0.07)	0.00	(0.10)	0.00	0.00	4.26	(5.72)	21.38
688123	2.79	0.25	0.08	0.31	2.94	(3.07)	5.98	(5.10)	18.86
300046	3.24	(0.60)	0.00	(1.28)	0.00	0.00	8.35	(6.96)	32.05
300223	2.32	(0.12)	0.00	(0.10)	0.00	0.00	4.39	(5.83)	14.38
603501	1.66	(0.05)	0.00	(0.04)	0.00	0.00	3.86	(2.84)	9.04
600901	1.21	(0.03)	0.00	(0.24)	0.00	0.00	3.00	(2.12)	7.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in Juewei Food 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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