JS Corrugating Correlations

000821 Stock

13.02 0.02 0.15%

The current 90-days correlation between JS Corrugating Machinery and Bank of China is -0.05 (i.e., Good diversification). The correlation of JS Corrugating 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.

JS Corrugating Correlation With Market

Good diversification

The correlation between JS Corrugating Machinery and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JS Corrugating Machinery and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with 000821 Stock

0.71	300880	Ningbo Jianan Electronics	Pair Corr
0.72	603969	Tianjin Silvery Dragon	Pair Corr
0.78	600335	Sinomach Automobile	Pair Corr
0.84	002074	Gotion High tech	Pair Corr
0.73	601929	JiShi Media	Pair Corr
0.91	600498	Fiberhome Telecommunicatio	Pair Corr
0.83	300825	Iat Automobile Technology	Pair Corr
0.7	002217	Holitech Technology	Pair Corr
0.75	000560	5I5j Holding Group	Pair Corr
0.78	000661	Changchun High New	Pair Corr
0.72	000428	Huatian Hotel Group	Pair Corr
0.82	605128	Shanghai Yanpu Metal	Pair Corr
0.62	002303	Shenzhen MYS Environ	Pair Corr
0.63	300608	SI TECH Information	Pair Corr
0.83	002893	Beijing HuaYuanYiTong	Pair Corr
0.87	600633	Zhejiang Daily Media	Pair Corr
0.86	002382	Blue Sail Medical	Pair Corr
0.69	603068	Beken Corp	Pair Corr
0.8	688325	Guangdong Cellwise	Pair Corr
0.81	688507	Shanghai Suochen Inf	Pair Corr
0.86	300815	Eit Environmental	Pair Corr
0.8	000506	Zhongrun Resources	Pair Corr
0.86	600719	Dalian Thermal Power	Pair Corr
0.82	600584	JCET Group	Pair Corr

Related Correlations Analysis

	601988	600519	601857	601328	600941	601318	600000	601398	600016	600028
601988		0.3	0.56	0.86	0.89	0.18	0.39	0.97	0.78	0.31	601988
600519	0.3		0.54	0.58	0.3	0.88	0.82	0.4	0.68	0.24	600519
601857	0.56	0.54		0.64	0.67	0.4	0.68	0.6	0.49	0.82	601857
601328	0.86	0.58	0.64		0.73	0.5	0.71	0.89	0.8	0.39	601328
600941	0.89	0.3	0.67	0.73		0.1	0.32	0.88	0.63	0.5	600941
601318	0.18	0.88	0.4	0.5	0.1		0.87	0.31	0.6	0.03	601318
600000	0.39	0.82	0.68	0.71	0.32	0.87		0.51	0.6	0.36	600000
601398	0.97	0.4	0.6	0.89	0.88	0.31	0.51		0.78	0.3	601398
600016	0.78	0.68	0.49	0.8	0.63	0.6	0.6	0.78		0.13	600016
600028	0.31	0.24	0.82	0.39	0.5	0.03	0.36	0.3	0.13		600028
	601988	600519	601857	601328	600941	601318	600000	601398	600016	600028

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Risk-Adjusted Indicators

There is a big difference between 000821 Stock performing well and JS Corrugating 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 JS Corrugating'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
601988	1.02	0.26	0.18	5.26	0.93	(1.28)	2.67	(1.98)	7.70
600519	1.63	0.31	0.15	(8.21)	1.57	(2.01)	6.55	(2.41)	16.71
601857	1.33	0.21	0.09	0.66	1.80	(1.69)	3.55	(2.01)	17.17
601328	1.33	0.25	0.15	1.35	1.23	(1.58)	3.26	(2.12)	10.82
600941	1.07	0.20	0.16	1.36	0.94	(1.38)	3.09	(2.04)	8.38
601318	1.79	0.34	0.13	4.77	1.95	(2.17)	5.83	(2.88)	19.77
600000	1.43	0.33	0.19	2.31	1.27	(1.70)	3.69	(2.14)	10.95
601398	1.14	0.30	0.22	2.63	1.00	(1.49)	2.83	(1.71)	8.14
600016	1.33	0.31	0.13	4.18	1.54	(1.53)	3.39	(2.31)	12.81
600028	1.18	0.08	0.03	0.29	1.57	(1.31)	2.51	(1.89)	10.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in JS Corrugating 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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