Shanghai Laimu Correlations
| 603633 Stock | 8.24 0.05 0.61% |
The current 90-days correlation between Shanghai Laimu Elect and Jiujiang Shanshui Technology is 0.83 (i.e., Very poor diversification). The correlation of Shanghai Laimu 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.
Shanghai Laimu Correlation With Market
Good diversification
The correlation between Shanghai Laimu Electronics and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Laimu Electronics and DJI in the same portfolio, assuming nothing else is changed.
Shanghai |
The ability to find closely correlated positions to Shanghai Laimu could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shanghai Laimu 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 Shanghai Laimu - 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 Shanghai Laimu Electronics to buy it.
Moving together with Shanghai Stock
| 0.63 | 600519 | Kweichow Moutai | PairCorr |
| 0.62 | 300760 | Shenzhen Mindray Bio | PairCorr |
| 0.79 | 603688 | Jiangsu Pacific Quartz | PairCorr |
| 0.79 | 000568 | Luzhou Lao Jiao | PairCorr |
| 0.89 | 300750 | Contemporary Amperex | PairCorr |
| 0.78 | 000858 | Wuliangye Yibin | PairCorr |
| 0.86 | 688656 | HOB Biotech Group | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Shanghai Stock performing well and Shanghai Laimu 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 Shanghai Laimu'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 301190 | 1.90 | 0.43 | 0.09 | (0.99) | 2.47 | 4.29 | 22.46 | |||
| 002625 | 3.67 | 1.49 | 0.32 | (13.03) | 3.30 | 10.00 | 20.00 | |||
| 000639 | 3.62 | 1.18 | 0.24 | 8.09 | 3.58 | 10.03 | 20.02 | |||
| 002956 | 1.99 | 0.55 | 0.21 | 1.62 | 1.92 | 5.35 | 16.47 |
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