Shanghai Jin Correlations

900934 Stock

1.49 0.01 0.68%

The current 90-days correlation between Shanghai Jin Jiang and Bank of China is -0.38 (i.e., Very good diversification). The correlation of Shanghai Jin 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.

Shanghai Jin Correlation With Market

Good diversification

The correlation between Shanghai Jin Jiang 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 Shanghai Jin Jiang and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shanghai Stock

0.63	601658	Postal Savings Bank	Pair Corr
0.79	601318	Ping An Insurance	Pair Corr
0.79	600036	China Merchants Bank	Pair Corr
0.65	601166	Industrial Bank	Pair Corr
0.64	601998	China Citic Bank	Pair Corr
0.61	000995	Gansu Huangtai Wine	Pair Corr
0.77	300894	Marssenger Kitchenware	Pair Corr
0.73	601138	Foxconn Industrial	Pair Corr
0.75	000408	Zangge Holding	Pair Corr
0.78	300939	Shenzhen AV Display	Pair Corr
0.73	300729	Loctek Ergonomic Tec	Pair Corr
0.9	603688	Jiangsu Pacific Quartz	Pair Corr
0.84	601636	Zhuzhou Kibing Group	Pair Corr
0.61	300301	Shenzhen Changfang Light	Pair Corr
0.83	000661	Changchun High New	Pair Corr
0.83	200539	Guangdong Electric Power	Pair Corr
0.74	600519	Kweichow Moutai	Pair Corr
0.86	002555	37 Interactive Enter	Pair Corr
0.73	002812	Yunnan Chuangxin New	Pair Corr
0.64	600170	Shanghai Construction	Pair Corr
0.61	001323	De Rucci Healthy	Pair Corr
0.76	000963	Huadong Medicine	Pair Corr
0.85	603259	WuXi AppTec	Pair Corr

Related Correlations Analysis

	601988	600519	601857	601328	600941	601318	600000	601398	600016	600028
601988		0.38	0.55	0.87	0.88	0.29	0.42	0.97	0.72	0.3	601988
600519	0.38		0.61	0.65	0.36	0.89	0.85	0.49	0.67	0.28	600519
601857	0.55	0.61		0.65	0.65	0.49	0.7	0.59	0.41	0.82	601857
601328	0.87	0.65	0.65		0.72	0.59	0.74	0.91	0.72	0.39	601328
600941	0.88	0.36	0.65	0.72		0.17	0.33	0.86	0.57	0.48	600941
601318	0.29	0.89	0.49	0.59	0.17		0.9	0.43	0.66	0.09	601318
600000	0.42	0.85	0.7	0.74	0.33	0.9		0.56	0.6	0.37	600000
601398	0.97	0.49	0.59	0.91	0.86	0.43	0.56		0.75	0.29	601398
600016	0.72	0.67	0.41	0.72	0.57	0.66	0.6	0.75		0.02	600016
600028	0.3	0.28	0.82	0.39	0.48	0.09	0.37	0.29	0.02		600028
	601988	600519	601857	601328	600941	601318	600000	601398	600016	600028

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Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Jin 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 Shanghai Jin'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
601988	1.02	0.25	0.18	1.43	0.93	(1.29)	2.67	(1.98)	7.70
600519	1.65	0.26	0.12	0.91	1.66	(2.01)	6.55	(2.85)	16.71
601857	1.32	0.21	0.08	7.11	1.80	(1.67)	3.55	(2.01)	17.17
601328	1.34	0.27	0.16	4.25	1.22	(1.60)	3.26	(2.12)	10.82
600941	1.07	0.21	0.16	(79.70)	0.94	(1.38)	3.09	(2.04)	8.38
601318	1.82	0.36	0.14	1.11	1.97	(2.22)	5.83	(2.88)	19.77
600000	1.40	0.30	0.17	2.86	1.29	(1.68)	3.69	(2.14)	10.95
601398	1.14	0.30	0.21	2.87	1.01	(1.49)	2.83	(1.71)	8.14
600016	1.36	0.32	0.14	(0.85)	1.52	(1.59)	3.39	(2.31)	12.81
600028	1.19	0.10	0.04	0.69	1.56	(1.34)	3.23	(1.89)	10.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanghai Jin 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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