MAANSHAN IRON Correlations

YM9A Stock

0.20 0.01 4.76%

The current 90-days correlation between MAANSHAN IRON H and Easy Software AG is 0.12 (i.e., Average diversification). The correlation of MAANSHAN IRON 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.

MAANSHAN IRON Correlation With Market

Significant diversification

The correlation between MAANSHAN IRON H and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAANSHAN IRON H and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MAANSHAN Stock

0.68	AMZ	Amazon Inc	Pair Corr
0.73	DBPE	Xtrackers LevDAX	Pair Corr
0.65	E908	Lyxor 1	Pair Corr

Moving against MAANSHAN Stock

0.81	BYRA	BANK RAKYAT IND	Pair Corr
0.73	DBPD	Xtrackers ShortDAX	Pair Corr
0.7	BYRA	BANK RAKYAT IND	Pair Corr
0.66	BYRA	PT Bank Rakyat	Pair Corr
0.63	SSUN	Samsung Electronics Earnings Call This Week	Pair Corr
0.61	PQ9	BANK MANDIRI Earnings Call This Week	Pair Corr
0.6	SSUN	Samsung Electronics Earnings Call This Week	Pair Corr
0.57	PQ9	PT Bank Mandiri Earnings Call This Week	Pair Corr
0.54	BYRA	PT Bank Rakyat	Pair Corr
0.46	SSU	Samsung Electronics Earnings Call This Week	Pair Corr
0.46	SSU	Samsung Electronics Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ESY	G1MN	S0G	MTE	COZ	US8	22F
ESY		0.77	-0.15	-0.31	0.26	-0.42	0.12	ESY
G1MN	0.77		-0.16	-0.02	0.28	-0.36	0.22	G1MN
S0G	-0.15	-0.16		0.16	-0.22	0.41	-0.33	S0G
MTE	-0.31	-0.02	0.16		-0.11	0.35	-0.17	MTE
COZ	0.26	0.28	-0.22	-0.11		-0.75	0.74	COZ
US8	-0.42	-0.36	0.41	0.35	-0.75		-0.78	US8
22F	0.12	0.22	-0.33	-0.17	0.74	-0.78		22F
	ESY	G1MN	S0G	MTE	COZ	US8	22F

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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

G1MN	+ 0.77	ESY
22F	+ 0.74	COZ
US8	+ 0.41	S0G
US8	+ 0.35	MTE
COZ	+ 0.28	G1MN
COZ	+ 0.26	ESY

High negative correlations

22F	- 0.78	US8
US8	- 0.75	COZ
US8	- 0.42	ESY
US8	- 0.36	G1MN
22F	- 0.33	S0G
MTE	- 0.31	ESY

Risk-Adjusted Indicators

There is a big difference between MAANSHAN Stock performing well and MAANSHAN IRON 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 MAANSHAN IRON'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
ESY	1.71	0.32	0.11	2.14	1.58	(3.31)	6.90	(3.87)	16.55
G1MN	0.92	0.37	0.16	(3.93)	0.21	(2.56)	4.29	(1.37)	7.08
S0G	4.15	0.74	0.04	(0.58)	5.98	(17.84)	8.33	(7.69)	123.13
MTE	2.52	0.20	0.05	0.81	3.74	(2.59)	6.55	(3.82)	24.67
COZ	1.08	0.09	0.05	0.28	1.50	(1.05)	2.25	(2.36)	11.59
US8	2.54	(0.10)	0.00	0.23	0.00	0.00	5.30	(4.91)	20.89
22F	1.25	0.16	0.08	(0.44)	1.32	(1.63)	3.24	(2.60)	9.22

Be your own money manager

Our tools can tell you how much better you can do entering a position in MAANSHAN IRON 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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