Suzhou Oriental Correlations

688261 Stock

38.28 2.12 5.25%

The current 90-days correlation between Suzhou Oriental Semi and Bangyan Technology Co is 0.4 (i.e., Very weak diversification). The correlation of Suzhou Oriental 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.

Suzhou Oriental Correlation With Market

Average diversification

The correlation between Suzhou Oriental Semiconductor 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 Suzhou Oriental Semiconductor and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Suzhou Stock

0.92	600519	Kweichow Moutai	Pair Corr
0.83	002371	NAURA Technology	Pair Corr
0.63	688298	Zhejiang Orient Gene	Pair Corr
0.73	002594	BYD Co	Pair Corr
0.65	300750	Contemporary Amperex	Pair Corr
0.74	600436	Zhangzhou Pientzehuang	Pair Corr

Moving against Suzhou Stock

0.56	300866	Anker Innovations	Pair Corr
0.41	688169	Beijing Roborock Tec	Pair Corr

Related Correlations Analysis

	688132	688008	600082	002177	603636	603919	601156	688369
688132		0.39	0.73	0.73	0.7	0.35	-0.13	0.71	688132
688008	0.39		0.15	0.28	0.28	0.37	0.46	0.42	688008
600082	0.73	0.15		0.82	0.72	0.62	-0.1	0.7	600082
002177	0.73	0.28	0.82		0.57	0.41	-0.02	0.54	002177
603636	0.7	0.28	0.72	0.57		0.53	-0.29	0.82	603636
603919	0.35	0.37	0.62	0.41	0.53		0.15	0.75	603919
601156	-0.13	0.46	-0.1	-0.02	-0.29	0.15		-0.06	601156
688369	0.71	0.42	0.7	0.54	0.82	0.75	-0.06		688369
	688132	688008	600082	002177	603636	603919	601156	688369

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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

002177	+ 0.82	600082
688369	+ 0.82	603636
688369	+ 0.75	603919
600082	+ 0.73	688132
002177	+ 0.73	688132
603636	+ 0.72	600082

High negative correlations

601156	- 0.29	603636
601156	- 0.13	688132
601156	- 0.1	600082
688369	- 0.06	601156
601156	- 0.02	002177

Risk-Adjusted Indicators

There is a big difference between Suzhou Stock performing well and Suzhou Oriental 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 Suzhou Oriental'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
688132	2.46	0.26	0.07	0.38	2.89	(2.89)	5.94	(4.82)	26.96
688008	2.45	0.08	0.01	0.42	2.81	(2.87)	5.60	(4.89)	16.27
600082	2.52	0.06	0.01	0.16	3.46	(2.68)	4.98	(6.85)	19.78
002177	3.81	0.13	0.02	0.21	4.56	(3.82)	9.98	(7.28)	19.14
603636	2.23	0.37	0.09	(11.93)	2.92	(2.36)	6.09	(4.28)	16.38
603919	1.49	(0.17)	0.00	7.88	0.00	0.00	2.85	(2.77)	13.43
601156	1.55	(0.05)	0.00	0.25	0.00	0.00	3.36	(2.94)	14.01
688369	3.71	0.28	0.06	0.38	4.14	(4.00)	7.67	(5.97)	19.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Suzhou Oriental 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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