Loongson Technology Correlations

688047 Stock

125.62 1.91 1.54%

The current 90-days correlation between Loongson Technology Corp and Zhejiang Orient Gene is -0.05 (i.e., Good diversification). The correlation of Loongson Technology 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.

Loongson Technology Correlation With Market

Average diversification

The correlation between Loongson Technology Corp and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Loongson Technology Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Loongson Stock

0.67	300081	Hengxin Mobile Business	Pair Corr
0.68	600608	Shanghai Broadband	Pair Corr

Moving against Loongson Stock

0.64	601857	PetroChina	Pair Corr
0.58	603236	Quectel Wireless Sol	Pair Corr
0.52	300866	Anker Innovations	Pair Corr
0.46	601398	Industrial and Commercial	Pair Corr
0.45	601988	Bank of China	Pair Corr
0.45	601728	China Telecom Corp	Pair Corr
0.37	601288	Agricultural Bank	Pair Corr

Related Correlations Analysis

	600519	002371	688298	688617	002594	300760	300750	688169	688111	600436
600519		0.58	0.75	-0.01	0.76	0.89	0.43	0.07	0.3	0.85	600519
002371	0.58		0.56	-0.38	0.3	0.62	0.58	-0.36	0.38	0.68	002371
688298	0.75	0.56		0.14	0.68	0.88	0.21	0.09	0.1	0.88	688298
688617	-0.01	-0.38	0.14		0.11	0.08	-0.05	0.33	0.03	-0.06	688617
002594	0.76	0.3	0.68	0.11		0.8	0.0	0.57	-0.17	0.75	002594
300760	0.89	0.62	0.88	0.08	0.8		0.33	0.17	0.18	0.94	300760
300750	0.43	0.58	0.21	-0.05	0.0	0.33		-0.45	0.78	0.26	300750
688169	0.07	-0.36	0.09	0.33	0.57	0.17	-0.45		-0.48	0.1	688169
688111	0.3	0.38	0.1	0.03	-0.17	0.18	0.78	-0.48		0.11	688111
600436	0.85	0.68	0.88	-0.06	0.75	0.94	0.26	0.1	0.11		600436
	600519	002371	688298	688617	002594	300760	300750	688169	688111	600436

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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

600436	+ 0.94	300760
300760	+ 0.89	600519
300760	+ 0.88	688298
600436	+ 0.88	688298
600436	+ 0.85	600519
300760	+ 0.8	002594

High negative correlations

688111	- 0.48	688169
688169	- 0.45	300750
688617	- 0.38	002371
688169	- 0.36	002371
688111	- 0.17	002594
600436	- 0.06	688617

Risk-Adjusted Indicators

There is a big difference between Loongson Stock performing well and Loongson Technology 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 Loongson Technology'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
600519	0.92	(0.08)	0.00	(0.92)	0.00	0.00	1.98	(2.37)	7.96
002371	1.96	0.15	0.06	0.27	2.11	(2.17)	5.11	(3.92)	15.82
688298	2.02	(0.09)	0.00	(0.26)	0.00	0.00	4.33	(3.34)	17.30
688617	1.96	0.02	0.01	1.06	2.32	(2.11)	4.28	(4.25)	11.06
002594	1.19	(0.09)	0.00	(3.29)	0.00	0.00	2.86	(2.53)	9.83
300760	1.36	(0.15)	0.00	(0.27)	0.00	0.00	2.89	(3.20)	8.50
300750	1.73	0.12	0.07	1.82	1.65	(2.09)	4.06	(2.79)	11.38
688169	2.29	(0.03)	0.00	(0.11)	0.00	0.00	5.53	(4.48)	18.87
688111	2.87	0.18	0.07	0.25	2.60	(4.13)	8.44	(4.31)	17.07
600436	1.07	(0.15)	0.00	(0.85)	0.00	0.00	2.03	(1.98)	9.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in Loongson Technology 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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