Anhui Huaheng Correlations

688639 Stock

32.61 0.34 1.03%

The current 90-days correlation between Anhui Huaheng Biotec and Industrial and Commercial is 0.15 (i.e., Average diversification). The correlation of Anhui Huaheng 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.

Anhui Huaheng Correlation With Market

Good diversification

The correlation between Anhui Huaheng Biotechnology and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Huaheng Biotechnology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Anhui Stock

0.68	688525	Biwin Storage Technology	Pair Corr
0.75	601318	Ping An Insurance	Pair Corr
0.67	300880	Ningbo Jianan Electronics	Pair Corr
0.81	000661	Changchun High New	Pair Corr
0.71	000560	5I5j Holding Group	Pair Corr
0.66	300221	Guangdong Silvere Sci	Pair Corr
0.69	000761	Bengang Steel Plates	Pair Corr
0.8	601059	Cinda Securities	Pair Corr
0.61	301379	Techshine Electronics	Pair Corr
0.79	688082	ACM Research Shanghai	Pair Corr
0.67	600633	Zhejiang Daily Media	Pair Corr

Related Correlations Analysis

	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998
601398		0.97	0.96	0.98	0.75	0.89	0.07	0.53	0.5	0.64	601398
601288	0.97		0.94	0.97	0.75	0.87	-0.04	0.44	0.46	0.61	601288
601939	0.96	0.94		0.92	0.87	0.9	0.26	0.69	0.62	0.7	601939
601988	0.98	0.97	0.92		0.73	0.87	-0.04	0.42	0.42	0.66	601988
601658	0.75	0.75	0.87	0.73		0.84	0.52	0.81	0.8	0.82	601658
601328	0.89	0.87	0.9	0.87	0.84		0.26	0.63	0.7	0.77	601328
601318	0.07	-0.04	0.26	-0.04	0.52	0.26		0.86	0.74	0.5	601318
600036	0.53	0.44	0.69	0.42	0.81	0.63	0.86		0.86	0.68	600036
601166	0.5	0.46	0.62	0.42	0.8	0.7	0.74	0.86		0.67	601166
601998	0.64	0.61	0.7	0.66	0.82	0.77	0.5	0.68	0.67		601998
	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998

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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

601988	+ 0.98	601398
601288	+ 0.97	601398
601988	+ 0.97	601288
601939	+ 0.96	601398
601939	+ 0.94	601288
601988	+ 0.92	601939

High negative correlations

601318	- 0.04	601988
601318	- 0.04	601288

Risk-Adjusted Indicators

There is a big difference between Anhui Stock performing well and Anhui Huaheng 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 Anhui Huaheng'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	1.14	0.30	0.23	3.37	0.98	(1.53)	2.83	(1.71)	8.14
601288	1.05	0.23	0.15	1.71	1.10	(1.15)	2.98	(1.89)	7.78
601939	1.14	0.29	0.18	1.70	1.15	(1.37)	3.32	(1.93)	8.64
601988	1.01	0.25	0.19	1.56	0.91	(1.30)	2.67	(1.98)	7.70
601658	1.35	0.26	0.14	1.71	1.32	(1.66)	3.49	(2.23)	9.13
601328	1.33	0.24	0.15	4.50	1.22	(1.56)	3.26	(2.12)	10.82
601318	1.80	0.31	0.13	0.89	1.97	(2.28)	5.83	(2.88)	19.77
600036	1.56	0.38	0.17	(5.22)	1.72	(1.80)	4.65	(2.56)	13.83
601166	1.38	0.27	0.13	2.13	1.49	(1.47)	3.84	(2.41)	12.07
601998	1.53	0.26	0.11	2.30	1.82	(1.75)	3.02	(2.37)	13.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Anhui Huaheng 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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