SIMCERE PHARMAC Correlations

S2P Stock

EUR 0.84 0.01 1.20%

The current 90-days correlation between SIMCERE PHARMAC GRP and Superior Plus Corp is -0.1 (i.e., Good diversification). The correlation of SIMCERE PHARMAC 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.

SIMCERE PHARMAC Correlation With Market

Good diversification

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

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

Moving together with SIMCERE Stock

0.65	LP6	LIVZON PHARMAC GRP	Pair Corr
0.84	CJH	CanSino Biologics	Pair Corr
0.72	BN9	Bank of New York Mellon	Pair Corr
0.77	SIX2	Sixt SE	Pair Corr

Moving against SIMCERE Stock

0.78	SSU	Samsung Electronics	Pair Corr
0.77	SSU	Samsung Electronics	Pair Corr
0.76	MRK	Merck KGaA	Pair Corr
0.73	SSUN	Samsung Electronics	Pair Corr
0.72	SSUN	Samsung Electronics	Pair Corr
0.62	DBPD	Xtrackers ShortDAX	Pair Corr
0.52	TCID	Telkom Indonesia Tbk	Pair Corr
0.41	H6D	Haleon PLC	Pair Corr
0.41	ASJA	ASTRA INTERNATIONAL	Pair Corr
0.33	ASJA	ASTRA INTERNATIONAL	Pair Corr
0.31	BYRA	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	8SP	6NM	39O1	2DG	TM9	TLX	INVN	IUI1	NOH1
8SP		0.58	0.29	0.77	0.32	0.09	-0.77	-0.87	-0.55	8SP
6NM	0.58		0.47	0.22	0.17	0.35	-0.19	-0.36	-0.09	6NM
39O1	0.29	0.47		0.16	0.42	-0.2	-0.01	-0.23	0.38	39O1
2DG	0.77	0.22	0.16		0.23	-0.1	-0.86	-0.9	-0.69	2DG
TM9	0.32	0.17	0.42	0.23		-0.15	-0.16	-0.32	0.2	TM9
TLX	0.09	0.35	-0.2	-0.1	-0.15		0.11	0.13	-0.14	TLX
INVN	-0.77	-0.19	-0.01	-0.86	-0.16	0.11		0.88	0.76	INVN
IUI1	-0.87	-0.36	-0.23	-0.9	-0.32	0.13	0.88		0.6	IUI1
NOH1	-0.55	-0.09	0.38	-0.69	0.2	-0.14	0.76	0.6		NOH1
	8SP	6NM	39O1	2DG	TM9	TLX	INVN	IUI1	NOH1

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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

IUI1	+ 0.88	INVN
2DG	+ 0.77	8SP
NOH1	+ 0.76	INVN
NOH1	+ 0.6	IUI1
6NM	+ 0.58	8SP
39O1	+ 0.47	6NM

High negative correlations

IUI1	- 0.9	2DG
IUI1	- 0.87	8SP
INVN	- 0.86	2DG
INVN	- 0.77	8SP
NOH1	- 0.69	2DG
NOH1	- 0.55	8SP

Risk-Adjusted Indicators

There is a big difference between SIMCERE Stock performing well and SIMCERE PHARMAC 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 SIMCERE PHARMAC'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
8SP	2.07	(0.11)	0.00	0.59	0.00	0.00	3.36	(4.74)	20.22
6NM	1.25	0.02	(0.01)	0.14	1.73	(1.39)	2.89	(2.69)	9.64
39O1	3.53	0.06	(0.01)	0.49	3.52	(4.94)	8.41	(5.38)	24.06
2DG	4.16	(1.39)	0.00	(0.70)	0.00	0.00	7.14	(8.57)	52.42
TM9	2.82	0.01	0.00	0.09	0.00	0.00	5.56	(6.43)	36.50
TLX	0.96	(0.05)	(0.09)	0.01	1.14	(1.11)	2.67	(1.64)	7.58
INVN	2.13	0.15	0.06	0.26	2.41	(2.54)	5.61	(4.25)	14.01
IUI1	1.26	0.16	0.09	0.35	1.09	(1.50)	3.28	(1.96)	10.30
NOH1	2.13	0.19	0.07	0.37	1.95	(2.70)	6.61	(3.38)	12.96

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Our tools can tell you how much better you can do entering a position in SIMCERE PHARMAC 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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