Niutech Environment Correlations

688309 Stock

14.16 0.35 2.41%

The current 90-days correlation between Niutech Environment and Dhc Software Co is 0.43 (i.e., Very weak diversification). The correlation of Niutech Environment 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.

Niutech Environment Correlation With Market

Good diversification

The correlation between Niutech Environment Technology and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Niutech Environment Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Niutech Stock

0.9	601628	China Life Insurance	Pair Corr
0.89	601059	Cinda Securities	Pair Corr
0.89	688072	Piotech Inc A	Pair Corr
0.89	601198	Dongxing Sec	Pair Corr
0.9	688293	Shanghai OPM Biosciences	Pair Corr
0.96	688126	National Silicon Industry	Pair Corr
0.61	603993	China Molybdenum	Pair Corr
0.9	000504	Nanhua Bio Medicine	Pair Corr
0.94	688521	VeriSilicon Microelectronics	Pair Corr
0.92	688012	Advanced Micro Fabri	Pair Corr
0.89	688298	Zhejiang Orient Gene	Pair Corr
0.95	300339	Jiangsu Hoperun Software	Pair Corr
0.9	000001	Ping An Bank	Pair Corr
0.88	000625	Chongqing Changan	Pair Corr
0.93	600229	Qingdao Citymedia	Pair Corr

Related Correlations Analysis

	002065	688425	600491	002177	002217	002062	000880	000680
002065		0.94	0.91	0.92	0.91	0.96	0.9	0.93	002065
688425	0.94		0.96	0.95	0.81	0.99	0.87	0.92	688425
600491	0.91	0.96		0.93	0.79	0.95	0.84	0.89	600491
002177	0.92	0.95	0.93		0.77	0.95	0.8	0.89	002177
002217	0.91	0.81	0.79	0.77		0.85	0.83	0.87	002217
002062	0.96	0.99	0.95	0.95	0.85		0.88	0.92	002062
000880	0.9	0.87	0.84	0.8	0.83	0.88		0.85	000880
000680	0.93	0.92	0.89	0.89	0.87	0.92	0.85		000680
	002065	688425	600491	002177	002217	002062	000880	000680

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Risk-Adjusted Indicators

There is a big difference between Niutech Stock performing well and Niutech Environment 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 Niutech Environment'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
002065	2.73	1.02	0.23	(1.58)	2.98	(3.23)	9.97	(4.46)	19.97
688425	1.83	0.50	0.13	(0.63)	2.03	(2.44)	3.85	(2.84)	20.12
600491	2.60	0.69	0.16	(16.62)	2.87	(3.06)	7.54	(5.24)	19.24
002177	3.11	0.54	0.10	1.79	4.00	(3.20)	8.64	(6.63)	20.03
002217	2.82	1.09	0.31	(144.96)	2.37	(3.57)	5.19	(5.00)	10.65
002062	1.93	0.40	0.10	(1.24)	2.01	(2.30)	4.27	(3.27)	15.95
000880	2.85	0.62	0.10	(0.54)	3.51	(3.12)	9.97	(5.66)	20.02
000680	2.49	0.84	0.20	(0.78)	2.44	(2.84)	6.54	(4.76)	14.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in Niutech Environment 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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Niutech Environment Corporate Executives

Elected by the shareholders, the Niutech Environment's board of directors comprises two types of representatives: Niutech Environment inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Niutech. The board's role is to monitor Niutech Environment's management team and ensure that shareholders' interests are well served. Niutech Environment's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Niutech Environment's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jingzhi Yang

Deputy CFO

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