Bangyan Technology Correlations

688132 Stock

17.82 0.47 2.57%

The current 90-days correlation between Bangyan Technology and Industrial and Commercial is -0.09 (i.e., Good diversification). The correlation of Bangyan 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.

Bangyan Technology Correlation With Market

Average diversification

The correlation between Bangyan Technology Co and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bangyan Technology Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Bangyan 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 Bangyan 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 Bangyan 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 Bangyan Technology Co to buy it.

Moving together with Bangyan Stock

0.61	002306	Cloud Live Technology	Pair Corr
0.71	300013	Jiangsu Xinning Modern	Pair Corr

Related Correlations Analysis

	601398	600519	601288	600941	601939	601857	601988	300750	600036	601628
601398		-0.58	0.97	0.91	0.96	0.86	0.98	-0.09	0.64	-0.58	601398
600519	-0.58		-0.49	-0.45	-0.41	-0.46	-0.67	0.5	-0.36	0.92	600519
601288	0.97	-0.49		0.93	0.98	0.85	0.96	-0.04	0.55	-0.51	601288
600941	0.91	-0.45	0.93		0.93	0.75	0.89	0.08	0.36	-0.5	600941
601939	0.96	-0.41	0.98	0.93		0.83	0.91	-0.02	0.55	-0.44	601939
601857	0.86	-0.46	0.85	0.75	0.83		0.86	-0.26	0.66	-0.54	601857
601988	0.98	-0.67	0.96	0.89	0.91	0.86		-0.15	0.59	-0.68	601988
300750	-0.09	0.5	-0.04	0.08	-0.02	-0.26	-0.15		-0.2	0.52	300750
600036	0.64	-0.36	0.55	0.36	0.55	0.66	0.59	-0.2		-0.31	600036
601628	-0.58	0.92	-0.51	-0.5	-0.44	-0.54	-0.68	0.52	-0.31		601628
	601398	600519	601288	600941	601939	601857	601988	300750	600036	601628

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

601988	+ 0.98	601398
601939	+ 0.98	601288
601288	+ 0.97	601398
601939	+ 0.96	601398
601988	+ 0.96	601288
600941	+ 0.93	601288

High negative correlations

601628	- 0.68	601988
601988	- 0.67	600519
601628	- 0.58	601398
600519	- 0.58	601398
601628	- 0.54	601857
601628	- 0.51	601288

Risk-Adjusted Indicators

There is a big difference between Bangyan Stock performing well and Bangyan 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 Bangyan 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
601398	0.95	0.18	0.07	(0.72)	0.90	(1.18)	2.31	(1.52)	6.36
600519	0.85	(0.11)	0.00	0.71	0.00	0.00	1.97	(2.37)	7.96
601288	0.91	0.12	0.01	(0.43)	1.25	(0.94)	2.20	(1.58)	7.85
600941	0.90	0.13	0.04	(3.56)	0.87	(1.05)	2.20	(1.64)	6.82
601939	0.95	0.10	(0.01)	(0.26)	0.99	(1.13)	1.86	(1.89)	4.13
601857	1.09	0.01	0.00	0.06	0.00	0.00	2.47	(2.03)	7.14
601988	0.90	0.18	0.06	(0.60)	0.93	(1.09)	1.90	(1.83)	5.62
300750	1.62	0.02	(0.05)	(0.03)	1.76	(1.86)	3.88	(2.80)	7.91
600036	1.04	0.08	(0.02)	(0.22)	1.32	(1.05)	2.14	(1.95)	6.49
601628	1.64	(0.09)	0.00	0.55	0.00	0.00	3.84	(3.94)	15.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bangyan 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.

Did you try this?

Run Portfolio Rebalancing Now

Portfolio Rebalancing

Analyze risk-adjusted returns against different time horizons to find asset-allocation targets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC