Shandong Weigao Correlations
| SHWGY Stock | USD 2.27 0.04 1.79% |
The current 90-days correlation between Shandong Weigao Group and Coloplast A is 0.19 (i.e., Average diversification). The correlation of Shandong Weigao 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Shandong Weigao Correlation With Market
Very good diversification
The correlation between Shandong Weigao Group and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shandong Weigao Group and DJI in the same portfolio, assuming nothing else is changed.
Shandong |
The ability to find closely correlated positions to Shandong Weigao could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shandong Weigao 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 Shandong Weigao - 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 Shandong Weigao Group to buy it.
Moving together with Shandong Pink Sheet
| 0.63 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
Moving against Shandong Pink Sheet
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 Shandong Pink Sheet performing well and Shandong Weigao 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 Shandong Weigao'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ANSLF | 0.89 | 0.44 | 0.00 | (7.51) | 0.00 | 0.00 | 17.44 | |||
| SAUHY | 1.71 | (0.23) | 0.00 | (0.34) | 0.00 | 2.72 | 12.55 | |||
| UTMD | 0.70 | (0.18) | 0.00 | (0.08) | 0.00 | 1.12 | 7.07 | |||
| ATRI | 0.39 | 0.01 | 0.00 | 0.10 | 0.00 | 0.94 | 6.29 | |||
| ANGO | 2.11 | (0.27) | 0.00 | (0.03) | 0.00 | 3.71 | 18.73 | |||
| SAUHF | 3.57 | (0.14) | 0.00 | (0.30) | 0.00 | 7.03 | 18.80 | |||
| CLPBY | 1.17 | (0.13) | 0.00 | (0.40) | 0.00 | 2.00 | 5.64 | |||
| HOCPY | 1.40 | (0.30) | 0.00 | (0.12) | 0.00 | 2.30 | 9.14 | |||
| NEPH | 1.83 | (0.32) | 0.00 | (0.55) | 0.00 | 2.74 | 11.29 | |||
| ESLOF | 1.53 | 0.02 | (0.05) | 0.33 | 1.84 | 2.56 | 8.50 |
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