Yuexiu Transport Correlations
GZ3 Stock | EUR 0.45 0.01 2.17% |
The current 90-days correlation between Yuexiu Transport Inf and ARDAGH METAL PACDL 0001 is 0.23 (i.e., Modest diversification). The correlation of Yuexiu Transport 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.
Yuexiu Transport Correlation With Market
Very weak diversification
The correlation between Yuexiu Transport Infrastructur and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yuexiu Transport Infrastructur and DJI in the same portfolio, assuming nothing else is changed.
Yuexiu |
The ability to find closely correlated positions to Yuexiu Transport could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yuexiu Transport 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 Yuexiu Transport - 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 Yuexiu Transport Infrastructure to buy it.
Moving together with Yuexiu Stock
0.7 | EOB | Arcosa Inc | PairCorr |
0.85 | FOO | Salesforce | PairCorr |
0.82 | 1FA | SPROUTS FARMERS MKT | PairCorr |
0.84 | IUI1 | Intuitive Surgical Earnings Call This Week | PairCorr |
0.68 | UNC | UCB Dusseldorf | PairCorr |
0.74 | OD7B | ETFS Coffee ETC | PairCorr |
0.62 | SDP | Summit Hotel Properties | PairCorr |
0.81 | MEC | Meiko Electronics | PairCorr |
0.73 | FDX | FedEx | PairCorr |
0.91 | HEI | Heidelberg Materials | PairCorr |
0.9 | XKR | KAR Auction Services | PairCorr |
0.84 | RHM | Rheinmetall AG | PairCorr |
0.68 | NTOA | Nintendo | PairCorr |
0.75 | MTX | MTU Aero Engines | PairCorr |
0.87 | CE1 | Perdoceo Education | PairCorr |
0.75 | FAA | FABASOFT Dusseldorf | PairCorr |
Moving against Yuexiu Stock
0.89 | HX1A | HEXINDO ADIPERKASA | PairCorr |
0.83 | KM6 | ADHI KARYA | PairCorr |
0.56 | I41 | INDIKA ENERGY | PairCorr |
0.52 | TNU3 | Getlink SE | PairCorr |
0.52 | HX1A | HEXINDO ADIPERKASA | PairCorr |
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Yuexiu Stock performing well and Yuexiu Transport 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 Yuexiu Transport'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
7JZ | 2.69 | (0.33) | 0.00 | (0.58) | 0.00 | 6.31 | 15.41 | |||
5PMA | 3.09 | (0.06) | 0.00 | (0.05) | 0.00 | 7.89 | 17.57 | |||
31WN | 2.20 | (0.07) | 0.00 | 0.62 | 0.00 | 5.10 | 24.80 | |||
COA1 | 2.37 | 0.08 | 0.01 | (0.08) | 3.24 | 9.09 | 19.09 | |||
FJZ | 2.63 | (0.02) | 0.00 | (0.04) | 0.00 | 6.04 | 17.86 | |||
CHWD | 0.69 | 0.06 | 0.04 | 0.98 | 0.90 | 1.16 | 7.89 | |||
DGD | 2.13 | 0.62 | 0.24 | (4.21) | 1.70 | 3.61 | 34.90 | |||
M8Z | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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