Yonyou Auto Correlations

688479 Stock

19.09 0.14 0.74%

The current 90-days correlation between Yonyou Auto Information and Agricultural Bank of is 0.01 (i.e., Significant diversification). The correlation of Yonyou Auto 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.

Yonyou Auto Correlation With Market

Good diversification

The correlation between Yonyou Auto Information and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yonyou Auto Information and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Yonyou Stock

0.92	605259	Lutian Machinery	Pair Corr
0.77	001289	China Longyuan Power	Pair Corr
0.87	603201	Changshu Tongrun Auto	Pair Corr
0.93	605198	Yantai North Andre	Pair Corr
0.69	601998	China Citic Bank	Pair Corr

Moving against Yonyou Stock

0.68	600025	Huaneng Lancang River	Pair Corr
0.32	601298	Qingdao Port Interna	Pair Corr
0.31	600236	Guangxi Guiguan Electric	Pair Corr

Related Correlations Analysis

	601288	601398	601988	601857	600028	601658	601728	601816
601288		0.93	0.73	0.57	0.44	0.81	0.4	0.71	601288
601398	0.93		0.8	0.69	0.5	0.75	0.36	0.75	601398
601988	0.73	0.8		0.54	0.41	0.68	0.4	0.54	601988
601857	0.57	0.69	0.54		0.88	0.25	-0.11	0.59	601857
600028	0.44	0.5	0.41	0.88		0.08	-0.2	0.39	600028
601658	0.81	0.75	0.68	0.25	0.08		0.79	0.75	601658
601728	0.4	0.36	0.4	-0.11	-0.2	0.79		0.52	601728
601816	0.71	0.75	0.54	0.59	0.39	0.75	0.52		601816
	601288	601398	601988	601857	600028	601658	601728	601816

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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

601398	+ 0.93	601288
600028	+ 0.88	601857
601658	+ 0.81	601288
601988	+ 0.8	601398
601728	+ 0.79	601658
601658	+ 0.75	601398

High negative correlations

601728	- 0.2	600028
601728	- 0.11	601857

Risk-Adjusted Indicators

There is a big difference between Yonyou Stock performing well and Yonyou Auto 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 Yonyou Auto'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
601288	1.31	0.06	(0.04)	(0.08)	1.97	(1.23)	3.21	(3.89)	8.24
601398	1.27	0.06	(0.06)	(0.02)	1.58	(1.46)	2.83	(3.06)	8.14
601988	1.23	0.08	(0.03)	(0.65)	1.51	(1.42)	2.67	(2.86)	7.70
601857	1.48	(0.07)	0.00	0.24	0.00	0.00	3.43	(3.33)	17.17
600028	1.44	(0.02)	0.00	0.16	0.00	0.00	4.21	(3.26)	10.77
601658	1.45	0.18	0.00	(0.28)	1.78	(1.63)	3.49	(2.84)	9.13
601728	1.48	0.20	0.03	(0.60)	1.72	(1.65)	3.49	(2.81)	11.12
601816	1.28	(0.03)	0.00	0.23	0.00	0.00	2.14	(2.43)	11.88

Be your own money manager

Our tools can tell you how much better you can do entering a position in Yonyou Auto 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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