Shanghai AtHub Correlations

603881 Stock

19.16 0.98 5.39%

The current 90-days correlation between Shanghai AtHub and Industrial and Commercial is -0.02 (i.e., Good diversification). The correlation of Shanghai AtHub 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 AtHub Correlation With Market

Good diversification

The correlation between Shanghai AtHub Co 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 AtHub Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Shanghai AtHub 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 AtHub 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 AtHub - 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 AtHub Co to buy it.

Moving together with Shanghai Stock

0.64	601939	China Construction Bank	Pair Corr
0.69	600036	China Merchants Bank	Pair Corr
0.62	601998	China Citic Bank	Pair Corr
0.72	002748	Jiangxi Selon Industrial	Pair Corr
0.73	300981	Zhonghong Pulin Medical	Pair Corr
0.78	600346	Hengli Petrochemical	Pair Corr
0.73	603078	Jiangyin Jianghua	Pair Corr
0.76	000425	XCMG Construction	Pair Corr
0.81	601615	Ming Yang Smart	Pair Corr
0.84	688185	Cansino Biologics	Pair Corr
0.79	600006	Dongfeng Automobile	Pair Corr
0.65	600675	China Enterprise	Pair Corr
0.71	300391	Kangyue Technology	Pair Corr
0.84	301359	Dongnan Electronics	Pair Corr
0.78	002368	Taiji Computer Corp	Pair Corr
0.79	002382	Blue Sail Medical	Pair Corr
0.78	688261	Suzhou Oriental Semi	Pair Corr
0.92	688318	Shenzhen Fortune Trend	Pair Corr
0.79	002121	Shenzhen Clou Electronics	Pair Corr
0.93	002138	Shenzhen Sunlord Ele	Pair Corr
0.86	600079	Humanwell Healthcare	Pair Corr
0.75	300898	Panda Dairy Corp	Pair Corr
0.74	000009	China Baoan Group	Pair Corr
0.83	601336	New China Life	Pair Corr
0.64	601665	Qilu Bank	Pair Corr
0.88	300946	Hengerda New Materials	Pair Corr
0.77	603260	Hoshine Silicon Ind	Pair Corr
0.77	605338	Zhongyin Babi Food	Pair Corr
0.76	000635	Ningxia Younglight	Pair Corr

Related Correlations Analysis

	601398	601288	601939	601988	601658	601328	600036	601166	601998	600000
601398		0.96	0.96	0.98	0.78	0.89	0.58	0.54	0.69	0.48	601398
601288	0.96		0.93	0.97	0.78	0.87	0.49	0.5	0.65	0.41	601288
601939	0.96	0.93		0.92	0.89	0.91	0.73	0.67	0.75	0.6	601939
601988	0.98	0.97	0.92		0.75	0.87	0.47	0.46	0.7	0.36	601988
601658	0.78	0.78	0.89	0.75		0.87	0.84	0.83	0.85	0.72	601658
601328	0.89	0.87	0.91	0.87	0.87		0.7	0.75	0.81	0.66	601328
600036	0.58	0.49	0.73	0.47	0.84	0.7		0.88	0.74	0.88	600036
601166	0.54	0.5	0.67	0.46	0.83	0.75	0.88		0.73	0.94	601166
601998	0.69	0.65	0.75	0.7	0.85	0.81	0.74	0.73		0.64	601998
600000	0.48	0.41	0.6	0.36	0.72	0.66	0.88	0.94	0.64		600000
	601398	601288	601939	601988	601658	601328	600036	601166	601998	600000

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Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai AtHub 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 AtHub'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
601398	1.14	0.31	0.21	3.79	1.00	(1.49)	2.83	(1.71)	8.14
601288	1.06	0.24	0.14	1.68	1.12	(1.17)	2.98	(1.89)	7.78
601939	1.13	0.31	0.18	1.97	1.15	(1.35)	3.32	(1.93)	8.64
601988	1.01	0.26	0.18	1.72	0.92	(1.28)	2.67	(1.98)	7.70
601658	1.37	0.29	0.15	1.86	1.32	(1.66)	3.49	(2.23)	9.13
601328	1.33	0.25	0.14	4.40	1.23	(1.58)	3.26	(2.12)	10.82
600036	1.55	0.39	0.17	(4.43)	1.72	(1.76)	4.65	(2.56)	13.83
601166	1.39	0.28	0.13	1.87	1.49	(1.48)	3.84	(2.41)	12.07
601998	1.53	0.26	0.11	2.45	1.82	(1.71)	3.02	(2.37)	13.33
600000	1.40	0.30	0.16	2.08	1.29	(1.68)	3.69	(2.14)	10.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanghai AtHub 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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