Jiangsu Xinri Correlations

603787 Stock

11.00 0.28 2.61%

The current 90-days correlation between Jiangsu Xinri E and Shenzhen MYS Environmental is 0.5 (i.e., Very weak diversification). The correlation of Jiangsu Xinri 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.

Jiangsu Xinri Correlation With Market

Good diversification

The correlation between Jiangsu Xinri E Vehicle and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Xinri E Vehicle and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jiangsu Stock

0.77	688525	Biwin Storage Technology	Pair Corr
0.71	600036	China Merchants Bank	Pair Corr
0.85	601318	Ping An Insurance	Pair Corr
0.86	688137	Suzhou Novoprotein	Pair Corr
0.77	000678	Xiangyang Automobile	Pair Corr
0.77	300364	COL Digital Publishing	Pair Corr

Related Correlations Analysis

	002303	508096	300533	180401	000937	605377	605368	508028	200625	000983
002303		0.17	0.87	-0.7	0.91	0.8	-0.68	-0.66	0.71	0.73	002303
508096	0.17		0.33	0.28	0.01	-0.15	-0.3	0.24	-0.1	-0.09	508096
300533	0.87	0.33		-0.45	0.84	0.74	-0.64	-0.47	0.75	0.69	300533
180401	-0.7	0.28	-0.45		-0.75	-0.69	0.5	0.82	-0.58	-0.63	180401
000937	0.91	0.01	0.84	-0.75		0.92	-0.53	-0.65	0.87	0.89	000937
605377	0.8	-0.15	0.74	-0.69	0.92		-0.3	-0.52	0.93	0.95	605377
605368	-0.68	-0.3	-0.64	0.5	-0.53	-0.3		0.64	-0.26	-0.21	605368
508028	-0.66	0.24	-0.47	0.82	-0.65	-0.52	0.64		-0.44	-0.4	508028
200625	0.71	-0.1	0.75	-0.58	0.87	0.93	-0.26	-0.44		0.91	200625
000983	0.73	-0.09	0.69	-0.63	0.89	0.95	-0.21	-0.4	0.91		000983
	002303	508096	300533	180401	000937	605377	605368	508028	200625	000983

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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

000983	+ 0.95	605377
200625	+ 0.93	605377
605377	+ 0.92	000937
000937	+ 0.91	002303
000983	+ 0.91	200625
000983	+ 0.89	000937

High negative correlations

000937	- 0.75	180401
180401	- 0.7	002303
605377	- 0.69	180401
605368	- 0.68	002303
508028	- 0.66	002303
508028	- 0.65	000937

Risk-Adjusted Indicators

There is a big difference between Jiangsu Stock performing well and Jiangsu Xinri 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 Jiangsu Xinri'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
002303	2.40	1.03	0.29	4.76	2.19	(2.91)	8.22	(3.79)	20.02
508096	0.24	0.01	(0.30)	0.34	0.21	(0.34)	0.71	(0.41)	1.83
300533	3.62	0.72	0.11	(4.20)	4.42	(3.72)	6.93	(5.89)	31.00
180401	0.38	(0.08)	0.00	(1.13)	0.00	0.00	0.66	(0.82)	2.55
000937	1.59	0.32	0.05	(0.34)	2.15	(1.79)	4.15	(3.30)	16.15
605377	1.88	0.18	0.01	(0.38)	2.47	(2.02)	5.50	(3.18)	16.81
605368	1.73	(0.16)	0.00	0.65	0.00	0.00	3.02	(3.98)	14.31
508028	0.24	(0.04)	0.00	(0.64)	0.00	0.00	0.60	(0.59)	1.89
200625	1.60	(0.01)	(0.06)	(0.17)	2.08	(1.66)	3.36	(3.07)	10.02
000983	1.67	0.12	(0.03)	(0.09)	2.29	(1.90)	5.00	(3.16)	18.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jiangsu Xinri 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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