Xinyi Glass Correlations

XYIGF Stock

USD 0.93 0.03 3.33%

The current 90-days correlation between Xinyi Glass Holdings and CEMEX SAB de is -0.22 (i.e., Very good diversification). The correlation of Xinyi Glass 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 Glass Correlation With Market

Good diversification

The correlation between Xinyi Glass Holdings and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xinyi Glass Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Xinyi Glass 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 Glass 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 Glass - 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 Glass Holdings to buy it.

Moving together with Xinyi Pink Sheet

0.64	MLM	Martin Marietta Materials	Pair Corr
0.67	AHCHF	Anhui Conch Cement	Pair Corr

Moving against Xinyi Pink Sheet

0.66	CMWCF	Cromwell Property	Pair Corr
0.31	CICHF	China Construction Bank	Pair Corr
0.69	BPIRY	Piraeus Bank SA	Pair Corr
0.66	ADSE	Ads Tec Energy	Pair Corr
0.62	EAWD	Energy and Water	Pair Corr
0.55	DXPE	DXP Enterprises	Pair Corr
0.46	EAT	Brinker International Earnings Call This Week	Pair Corr
0.41	CHHQY	China Hongqiao Group	Pair Corr
0.31	APLD	Applied Digital Aggressive Push	Pair Corr
0.31	V	Visa Class A Earnings Call This Week	Pair Corr
0.74	VRSN	VeriSign	Pair Corr
0.65	SERV	Serve Robotics Common	Pair Corr
0.58	ACHR	Archer Aviation Aggressive Push	Pair Corr
0.55	ULTA	Ulta Beauty	Pair Corr
0.53	LULU	Lululemon Athletica	Pair Corr
0.52	QFIN	360 Finance	Pair Corr

Related Correlations Analysis

	AHCHF	ADBCF	CXMSF	CTXXF	AHCHY	BASA	ADLDY	JHX	FTTRF	RETO
AHCHF		0.0	-0.07	0.26	0.69	-0.43	0.0	0.46	0.0	0.73	AHCHF
ADBCF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ADBCF
CXMSF	-0.07	0.0		-0.2	0.01	-0.15	0.0	-0.43	0.0	-0.01	CXMSF
CTXXF	0.26	0.0	-0.2		0.2	-0.24	0.0	0.13	0.0	0.08	CTXXF
AHCHY	0.69	0.0	0.01	0.2		-0.41	0.0	0.26	0.0	0.73	AHCHY
BASA	-0.43	0.0	-0.15	-0.24	-0.41		0.0	-0.52	0.0	-0.16	BASA
ADLDY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ADLDY
JHX	0.46	0.0	-0.43	0.13	0.26	-0.52	0.0		0.0	0.19	JHX
FTTRF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FTTRF
RETO	0.73	0.0	-0.01	0.08	0.73	-0.16	0.0	0.19	0.0		RETO
	AHCHF	ADBCF	CXMSF	CTXXF	AHCHY	BASA	ADLDY	JHX	FTTRF	RETO

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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

RETO	+ 0.73	AHCHF
RETO	+ 0.73	AHCHY
AHCHY	+ 0.69	AHCHF
JHX	+ 0.46	AHCHF
CTXXF	+ 0.26	AHCHF
JHX	+ 0.26	AHCHY

High negative correlations

JHX	- 0.52	BASA
JHX	- 0.43	CXMSF
BASA	- 0.43	AHCHF
BASA	- 0.41	AHCHY
BASA	- 0.24	CTXXF
CTXXF	- 0.2	CXMSF

Risk-Adjusted Indicators

There is a big difference between Xinyi Pink Sheet performing well and Xinyi Glass 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 Glass' 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
AHCHF	2.49	(0.29)	0.00	(0.31)	0.00	0.00	5.62	(6.98)	36.23
ADBCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CXMSF	1.11	(0.07)	0.00	(0.09)	0.00	0.00	5.56	(5.26)	13.80
CTXXF	2.69	(0.12)	0.00	(0.12)	0.00	0.00	5.88	(5.56)	26.32
AHCHY	1.73	0.00	(0.01)	0.04	2.24	(1.87)	4.16	(3.14)	14.53
BASA	11.06	0.55	0.04	2.57	11.54	(13.34)	20.00	(18.75)	62.59
ADLDY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JHX	1.48	(0.10)	0.00	(1.53)	0.00	0.00	3.53	(2.75)	12.31
FTTRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RETO	2.57	(0.39)	0.00	1.37	0.00	0.00	5.26	(5.21)	23.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in Xinyi Glass 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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