DONGJIANG ENVIRONMENTAL Correlations

DGN Stock

EUR 0.18 0.01 5.26%

The current 90-days correlation between DONGJIANG ENVIRONMENTAL and NORWEGIAN AIR SHUT is -0.04 (i.e., Good diversification). The correlation of DONGJIANG ENVIRONMENTAL 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.

DONGJIANG ENVIRONMENTAL Correlation With Market

Significant diversification

The correlation between DONGJIANG ENVIRONMENTAL H and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DONGJIANG ENVIRONMENTAL H and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with DONGJIANG Stock

0.72	EII	Eisai	Pair Corr
0.7	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against DONGJIANG Stock

0.71	DBPE	Xtrackers LevDAX	Pair Corr
0.66	E908	Lyxor 1	Pair Corr
0.65	CYL	CryoLife	Pair Corr
0.64	CYL	CRYOLIFE	Pair Corr
0.51	APC	Apple Inc Earnings Call This Week	Pair Corr
0.5	APC	Apple Inc Earnings Call This Week	Pair Corr
0.5	APC	Apple Inc Earnings Call This Week	Pair Corr
0.5	MSF	Microsoft Earnings Call This Week	Pair Corr
0.49	APC	Apple Inc Earnings Call This Week	Pair Corr
0.49	APC	Apple Inc Earnings Call This Week	Pair Corr
0.49	APC	Apple Inc Earnings Call This Week	Pair Corr
0.49	MSF	Microsoft Earnings Call This Week	Pair Corr
0.47	MSF	Microsoft Earnings Call This Week	Pair Corr
0.46	MSF	Microsoft Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NWC	NWJ	NWC	WB2	KGZ	8A2	OYC	MSI
NWC		0.19	0.84	0.2	-0.34	-0.32	-0.03	0.4	NWC
NWJ	0.19		0.21	-0.41	-0.74	-0.66	-0.47	0.61	NWJ
NWC	0.84	0.21		0.09	-0.3	-0.32	-0.11	0.35	NWC
WB2	0.2	-0.41	0.09		0.45	0.59	0.85	-0.15	WB2
KGZ	-0.34	-0.74	-0.3	0.45		0.8	0.51	-0.71	KGZ
8A2	-0.32	-0.66	-0.32	0.59	0.8		0.7	-0.58	8A2
OYC	-0.03	-0.47	-0.11	0.85	0.51	0.7		-0.3	OYC
MSI	0.4	0.61	0.35	-0.15	-0.71	-0.58	-0.3		MSI
	NWC	NWJ	NWC	WB2	KGZ	8A2	OYC	MSI

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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

OYC	+ 0.85	WB2
NWC	+ 0.84	NWC
8A2	+ 0.8	KGZ
OYC	+ 0.7	8A2
MSI	+ 0.61	NWJ
8A2	+ 0.59	WB2

High negative correlations

KGZ	- 0.74	NWJ
MSI	- 0.71	KGZ
8A2	- 0.66	NWJ
MSI	- 0.58	8A2
OYC	- 0.47	NWJ
WB2	- 0.41	NWJ

Risk-Adjusted Indicators

There is a big difference between DONGJIANG Stock performing well and DONGJIANG ENVIRONMENTAL 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 DONGJIANG ENVIRONMENTAL'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
NWC	2.28	(0.17)	0.00	1.49	0.00	0.00	3.57	(4.55)	12.61
NWJ	1.06	(0.14)	0.00	(2.10)	0.00	0.00	1.71	(3.27)	7.22
NWC	2.36	(0.18)	0.00	(0.93)	0.00	0.00	4.76	(4.85)	12.57
WB2	0.94	0.19	0.16	2.55	0.81	(1.14)	2.12	(1.34)	9.99
KGZ	1.79	0.58	0.24	19.50	1.48	(2.49)	4.46	(2.61)	26.08
8A2	0.91	0.31	0.17	(0.97)	0.75	(1.51)	2.02	(1.04)	12.50
OYC	1.61	0.41	0.20	(6.66)	1.34	(1.75)	4.58	(2.60)	15.70
MSI	1.29	(0.12)	0.00	(0.15)	0.00	0.00	2.73	(2.88)	10.19

Be your own money manager

Our tools can tell you how much better you can do entering a position in DONGJIANG ENVIRONMENTAL 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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