Guangdong Marubi Correlations

603983 Stock

27.63 0.18 0.65%

The current 90-days correlation between Guangdong Marubi Bio and Dazhong Transportation Group is 0.17 (i.e., Average diversification). The correlation of Guangdong Marubi 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.

Guangdong Marubi Correlation With Market

Good diversification

The correlation between Guangdong Marubi Biotechnology and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Marubi Biotechnology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guangdong Stock

0.86	688235	BeiGene	Pair Corr
0.85	600519	Kweichow Moutai	Pair Corr
0.69	603444	G bits Network	Pair Corr
0.94	000661	Changchun High New	Pair Corr
0.9	002371	NAURA Technology	Pair Corr
0.94	300750	Contemporary Amperex	Pair Corr

Related Correlations Analysis

	600853	900903	605577	600996	600608	603843	603999	600373
600853		0.95	0.79	0.97	0.77	0.78	0.96	-0.16	600853
900903	0.95		0.8	0.93	0.77	0.79	0.94	-0.14	900903
605577	0.79	0.8		0.76	0.84	0.72	0.81	-0.26	605577
600996	0.97	0.93	0.76		0.77	0.81	0.95	-0.18	600996
600608	0.77	0.77	0.84	0.77		0.61	0.74	-0.5	600608
603843	0.78	0.79	0.72	0.81	0.61		0.77	-0.21	603843
603999	0.96	0.94	0.81	0.95	0.74	0.77		0.02	603999
600373	-0.16	-0.14	-0.26	-0.18	-0.5	-0.21	0.02		600373
	600853	900903	605577	600996	600608	603843	603999	600373

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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

600996	+ 0.97	600853
603999	+ 0.96	600853
900903	+ 0.95	600853
603999	+ 0.95	600996
603999	+ 0.94	900903
600996	+ 0.93	900903

High negative correlations

600373	- 0.5	600608
600373	- 0.26	605577
600373	- 0.21	603843
600373	- 0.18	600996
600373	- 0.16	600853
600373	- 0.14	900903

Risk-Adjusted Indicators

There is a big difference between Guangdong Stock performing well and Guangdong Marubi 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 Guangdong Marubi'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
600853	1.68	0.33	0.07	(1.22)	1.99	(2.10)	4.00	(2.87)	17.02
900903	2.52	0.48	0.08	1.43	2.43	(5.15)	5.56	(5.00)	14.79
605577	2.53	0.38	0.05	(0.40)	3.02	(2.68)	4.29	(5.09)	18.18
600996	2.11	0.37	0.08	(1.06)	2.58	(2.38)	4.83	(3.63)	18.34
600608	2.04	0.65	0.19	2.66	2.06	(2.31)	4.96	(4.87)	10.13
603843	2.66	0.21	0.05	0.41	2.94	(3.14)	6.04	(4.12)	17.41
603999	2.08	0.38	0.08	(1.66)	2.64	(2.16)	4.80	(3.61)	17.18
600373	1.93	(0.10)	0.00	1.05	0.00	0.00	3.56	(4.02)	16.64

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guangdong Marubi 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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