Guangzhou Jiacheng Correlations

603535 Stock

12.73 0.11 0.87%

The correlation of Guangzhou Jiacheng 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.

Guangzhou Jiacheng Correlation With Market

Significant diversification

The correlation between Guangzhou Jiacheng and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Jiacheng and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guangzhou Stock

0.65	601166	Industrial Bank	Pair Corr
0.71	180101	Bosera CMSK Industrial	Pair Corr
0.64	301439	Weihai Honglin Electronic	Pair Corr

Moving against Guangzhou Stock

0.64	601318	Ping An Insurance	Pair Corr
0.45	600368	Guangxi Wuzhou Commu	Pair Corr
0.31	601857	PetroChina	Pair Corr
0.46	300171	Shanghai Tofflon Science	Pair Corr
0.44	601698	China Satellite Comm	Pair Corr
0.33	600386	Beijing Bashi Media	Pair Corr

Related Correlations Analysis

	002306	200468	603268	002052	002168	600322	300391	603559
002306		0.54	0.39	0.14	0.83	0.63	0.94	0.91	002306
200468	0.54		0.52	-0.27	0.3	0.05	0.61	0.46	200468
603268	0.39	0.52		-0.07	0.19	-0.15	0.44	0.38	603268
002052	0.14	-0.27	-0.07		0.41	0.18	-0.05	0.06	002052
002168	0.83	0.3	0.19	0.41		0.76	0.68	0.79	002168
600322	0.63	0.05	-0.15	0.18	0.76		0.53	0.62	600322
300391	0.94	0.61	0.44	-0.05	0.68	0.53		0.89	300391
603559	0.91	0.46	0.38	0.06	0.79	0.62	0.89		603559
	002306	200468	603268	002052	002168	600322	300391	603559

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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

300391	+ 0.94	002306
603559	+ 0.91	002306
603559	+ 0.89	300391
002168	+ 0.83	002306
603559	+ 0.79	002168
600322	+ 0.76	002168

High negative correlations

002052	- 0.27	200468
600322	- 0.15	603268
002052	- 0.07	603268
300391	- 0.05	002052

Risk-Adjusted Indicators

There is a big difference between Guangzhou Stock performing well and Guangzhou Jiacheng 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 Guangzhou Jiacheng'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
002306	3.93	(0.31)	0.00	(0.91)	0.00	0.00	10.04	(6.63)	20.16
200468	2.63	(0.05)	0.00	(0.14)	0.00	0.00	7.20	(6.34)	16.40
603268	2.47	(0.21)	0.00	(0.61)	0.00	0.00	5.68	(4.18)	20.01
002052	3.90	(0.31)	0.00	(2.33)	0.00	0.00	5.05	(5.09)	10.21
002168	2.18	(0.22)	0.00	(0.97)	0.00	0.00	5.00	(5.08)	10.23
600322	2.76	0.20	0.06	(2.97)	3.72	(3.15)	8.03	(6.65)	20.01
300391	3.24	(0.09)	0.00	0.31	0.00	0.00	8.81	(6.75)	21.30
603559	3.22	(0.45)	0.00	0.87	0.00	0.00	5.03	(5.01)	32.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guangzhou Jiacheng 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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