Xinyi Solar Correlations
| XNYIF Stock | USD 0.44 0.00 0.00% |
The current 90-days correlation between Xinyi Solar Holdings and GCL Poly Energy Holdings is 0.04 (i.e., Significant diversification). The correlation of Xinyi Solar 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.
Xinyi Solar Correlation With Market
Significant diversification
The correlation between Xinyi Solar Holdings and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xinyi Solar Holdings and DJI in the same portfolio, assuming nothing else is changed.
Xinyi |
The ability to find closely correlated positions to Xinyi Solar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Xinyi Solar 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 Xinyi Solar - 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 Xinyi Solar Holdings to buy it.
Moving together with Xinyi Pink Sheet
Moving against Xinyi Pink Sheet
| 0.65 | GOOG | Alphabet Class C | PairCorr |
| 0.61 | SMTGF | SMA Solar Technology | PairCorr |
| 0.52 | MSFT | Microsoft | PairCorr |
| 0.51 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.5 | FSLR | First Solar | PairCorr |
| 0.41 | MYBUF | Meyer Burger Technology | PairCorr |
| 0.31 | ENPH | Enphase Energy | PairCorr |
| 0.44 | PFE | Pfizer Inc | PairCorr |
| 0.43 | HD | Home Depot | PairCorr |
| 0.42 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.32 | HPQ | HP Inc | 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Xinyi Pink Sheet performing well and Xinyi Solar 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 Xinyi Solar'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SMTGY | 3.94 | 0.80 | 0.16 | 0.78 | 3.45 | 13.39 | 34.67 | |||
| SMTGF | 1.25 | (0.08) | 0.00 | 0.39 | 0.00 | 9.01 | 26.42 | |||
| GCPEF | 5.80 | 0.36 | 0.02 | (2.43) | 8.38 | 30.00 | 67.52 | |||
| VSOLF | 32.83 | 15.20 | 0.00 | 0.17 | 0.00 | 0.00 | 1,000.00 | |||
| XISHY | 2.66 | 0.06 | 0.02 | (0.25) | 3.69 | 4.81 | 22.14 | |||
| RUN | 3.45 | (0.48) | 0.00 | (0.38) | 0.00 | 8.75 | 25.30 | |||
| SEDG | 4.26 | 0.38 | 0.07 | 0.26 | 4.92 | 10.17 | 30.26 | |||
| AACTF | 6.25 | (0.04) | 0.00 | (0.03) | 0.00 | 16.88 | 45.85 | |||
| SING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NXT | 2.47 | 0.43 | 0.17 | (63.78) | 2.16 | 7.22 | 17.41 |