Shenzhen Kaifa Correlations

000021 Stock

18.29 0.19 1.05%

The current 90-days correlation between Shenzhen Kaifa Technology and Industrial and Commercial is -0.16 (i.e., Good diversification). The correlation of Shenzhen Kaifa 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.

Shenzhen Kaifa Correlation With Market

Significant diversification

The correlation between Shenzhen Kaifa Technology 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 Shenzhen Kaifa Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shenzhen Stock

0.65	002371	NAURA Technology	Pair Corr
0.65	688298	Zhejiang Orient Gene	Pair Corr
0.72	603069	Hainan Haiqi Transpo	Pair Corr
0.64	002124	Ningbo Tech Bank	Pair Corr

Related Correlations Analysis

	601398	601939	601288	601988	601857	600036	600938	600941	601328	601658
601398		0.96	0.97	0.98	0.9	0.53	0.82	0.92	0.85	0.54	601398
601939	0.96		0.98	0.91	0.86	0.54	0.83	0.92	0.91	0.69	601939
601288	0.97	0.98		0.95	0.87	0.5	0.83	0.92	0.91	0.69	601288
601988	0.98	0.91	0.95		0.88	0.48	0.8	0.9	0.8	0.48	601988
601857	0.9	0.86	0.87	0.88		0.75	0.95	0.75	0.72	0.49	601857
600036	0.53	0.54	0.5	0.48	0.75		0.77	0.3	0.44	0.34	600036
600938	0.82	0.83	0.83	0.8	0.95	0.77		0.7	0.73	0.59	600938
600941	0.92	0.92	0.92	0.9	0.75	0.3	0.7		0.85	0.56	600941
601328	0.85	0.91	0.91	0.8	0.72	0.44	0.73	0.85		0.81	601328
601658	0.54	0.69	0.69	0.48	0.49	0.34	0.59	0.56	0.81		601658
	601398	601939	601288	601988	601857	600036	600938	600941	601328	601658

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Risk-Adjusted Indicators

There is a big difference between Shenzhen Stock performing well and Shenzhen Kaifa 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 Shenzhen Kaifa'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
601398	0.88	0.07	0.07	0.36	1.02	(1.05)	2.19	(1.52)	6.36
601939	0.88	0.01	0.01	0.42	1.04	(0.99)	1.81	(1.91)	4.13
601288	0.87	0.02	0.02	0.14	1.33	(0.83)	1.69	(1.58)	7.85
601988	0.80	0.10	0.11	4.75	0.84	(0.96)	1.60	(1.54)	5.42
601857	1.02	0.10	0.09	0.57	0.98	(1.31)	2.47	(1.94)	6.74
600036	1.06	0.06	0.04	0.58	1.35	(1.09)	2.14	(2.01)	6.49
600938	1.08	0.05	0.05	1.08	1.10	(1.14)	2.42	(1.82)	5.97
600941	0.91	0.03	0.03	0.25	1.05	(1.03)	2.20	(2.04)	6.82
601328	0.96	(0.04)	0.00	(0.35)	0.00	0.00	1.91	(1.88)	5.89
601658	0.99	(0.10)	0.00	(0.51)	0.00	0.00	1.97	(2.15)	8.59

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shenzhen Kaifa 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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