Hangzhou EZVIZ Correlations

688475 Stock

30.41 0.29 0.96%

The current 90-days correlation between Hangzhou EZVIZ Network and Nanxing Furniture Machinery is 0.02 (i.e., Significant diversification). The correlation of Hangzhou EZVIZ 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.

Hangzhou EZVIZ Correlation With Market

Good diversification

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

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

Moving together with Hangzhou Stock

0.62	000937	Jizhong Energy Resources	Pair Corr
0.62	605377	Hangzhou Huawang New	Pair Corr
0.69	300629	King Strong New	Pair Corr
0.63	000036	China Union Holdings	Pair Corr
0.87	300002	Beijing Ultrapower	Pair Corr
0.67	000988	Huagong Tech	Pair Corr
0.76	301139	Wintao Communications	Pair Corr
0.7	000625	Chongqing Changan	Pair Corr
0.61	603659	Shanghai Putailai New	Pair Corr
0.76	300322	Huizhou Speed Wireless	Pair Corr
0.74	301359	Dongnan Electronics	Pair Corr
0.67	600019	Baoshan Iron Steel	Pair Corr
0.77	002219	Hengkang Medical	Pair Corr
0.73	601137	Ningbo Boway Alloy	Pair Corr
0.72	301190	Jiujiang Shanshui	Pair Corr
0.94	688396	China Resources Micr	Pair Corr
0.83	688498	Yuanjie Semiconductor	Pair Corr
0.77	301123	YiDong Electronics	Pair Corr

Related Correlations Analysis

	002757	601238	603109	605259	600984	605060	300998	600512
002757		0.74	0.62	0.76	0.61	0.85	0.54	0.73	002757
601238	0.74		0.79	0.84	0.73	0.8	0.79	0.87	601238
603109	0.62	0.79		0.89	0.92	0.81	0.67	0.89	603109
605259	0.76	0.84	0.89		0.89	0.94	0.73	0.93	605259
600984	0.61	0.73	0.92	0.89		0.85	0.63	0.91	600984
605060	0.85	0.8	0.81	0.94	0.85		0.69	0.89	605060
300998	0.54	0.79	0.67	0.73	0.63	0.69		0.81	300998
600512	0.73	0.87	0.89	0.93	0.91	0.89	0.81		600512
	002757	601238	603109	605259	600984	605060	300998	600512

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Hangzhou Stock performing well and Hangzhou EZVIZ 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 Hangzhou EZVIZ'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
002757	3.15	0.60	0.13	(0.61)	3.70	(3.27)	9.99	(7.09)	20.01
601238	2.28	0.45	0.15	(5.31)	2.33	(2.73)	5.67	(3.90)	15.59
603109	2.11	0.55	0.16	(2.45)	2.44	(2.27)	5.18	(3.65)	19.05
605259	1.70	0.35	0.13	2.55	2.13	(1.68)	3.35	(3.43)	14.98
600984	3.55	0.83	0.20	(0.72)	3.24	(4.42)	9.93	(5.05)	18.30
605060	2.10	0.39	0.11	(0.82)	2.70	(2.09)	4.79	(3.91)	19.51
300998	3.06	0.38	0.08	0.52	4.11	(3.30)	7.67	(5.93)	29.94
600512	1.91	0.42	0.14	32.75	2.06	(2.22)	3.94	(3.53)	15.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hangzhou EZVIZ 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 Investing Opportunities Now

Investing Opportunities

Build portfolios using our predefined set of ideas and optimize them against your investing preferences

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