Shenzhen Agricultural Correlations

000061 Stock

7.95 0.18 2.32%

The current 90-days correlation between Shenzhen Agricultural and Loctek Ergonomic Technology is 0.54 (i.e., Very weak diversification). The correlation of Shenzhen Agricultural 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 Agricultural Correlation With Market

Significant diversification

The correlation between Shenzhen Agricultural Products and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Agricultural Products and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Shenzhen Agricultural 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 Agricultural 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 Agricultural - 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 Agricultural Products to buy it.

Moving together with Shenzhen Stock

0.71	601398	Industrial and Commercial	Pair Corr
0.72	601939	China Construction Bank	Pair Corr
0.64	601288	Agricultural Bank	Pair Corr
0.71	601988	Bank of China	Pair Corr
0.67	600036	China Merchants Bank	Pair Corr
0.64	601328	Bank of Communications	Pair Corr
0.72	601658	Postal Savings Bank	Pair Corr
0.8	002371	NAURA Technology	Pair Corr
0.82	688656	HOB Biotech Group	Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	516220	002096	300243	603269	300049	600895
601615		0.85	0.96	0.91	0.85	0.61	0.86	0.9	-0.03	0.87	601615
159681	0.85		0.79	0.92	0.98	0.82	0.85	0.89	0.34	0.9	159681
159005	0.96	0.79		0.84	0.78	0.52	0.85	0.83	-0.14	0.85	159005
300729	0.91	0.92	0.84		0.91	0.68	0.81	0.87	0.22	0.82	300729
516220	0.85	0.98	0.78	0.91		0.8	0.86	0.86	0.28	0.89	516220
002096	0.61	0.82	0.52	0.68	0.8		0.67	0.73	0.59	0.72	002096
300243	0.86	0.85	0.85	0.81	0.86	0.67		0.81	0.01	0.95	300243
603269	0.9	0.89	0.83	0.87	0.86	0.73	0.81		0.27	0.85	603269
300049	-0.03	0.34	-0.14	0.22	0.28	0.59	0.01	0.27		0.07	300049
600895	0.87	0.9	0.85	0.82	0.89	0.72	0.95	0.85	0.07		600895
	601615	159681	159005	300729	516220	002096	300243	603269	300049	600895

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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

516220	+ 0.98	159681
159005	+ 0.96	601615
600895	+ 0.95	300243
300729	+ 0.92	159681
300729	+ 0.91	601615
516220	+ 0.91	300729

High negative correlations

300049	- 0.14	159005
300049	- 0.03	601615

Risk-Adjusted Indicators

There is a big difference between Shenzhen Stock performing well and Shenzhen Agricultural 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 Agricultural'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
601615	2.57	0.83	0.26	(4.61)	2.16	(3.18)	7.78	(3.56)	18.14
159681	2.95	0.76	0.15	(5.50)	3.06	(4.65)	8.99	(4.00)	36.32
159005	0.01	0.00	(10.95)	(1.21)	0.00	(0.05)	0.01	(0.01)	0.14
300729	2.11	0.35	0.08	2.56	2.90	(2.33)	6.27	(3.25)	24.80
516220	1.73	0.32	0.07	(1.42)	1.75	(2.78)	5.26	(3.03)	17.74
002096	2.07	0.07	0.00	0.32	2.34	(2.19)	4.30	(3.86)	13.27
300243	3.17	0.81	0.13	(0.61)	3.67	(3.46)	10.41	(4.80)	31.77
603269	2.65	0.59	0.16	(3.04)	2.45	(3.27)	5.98	(4.55)	16.65
300049	3.27	0.04	0.00	0.19	4.65	(3.37)	7.57	(7.17)	28.09
600895	3.36	1.08	0.21	(0.68)	3.12	(3.74)	10.01	(5.11)	19.00

Be your own money manager

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