CGN Nuclear Correlations

000881 Stock

7.35 0.29 4.11%

The current 90-days correlation between CGN Nuclear Technology and Jiangsu Yueda Investment is 0.65 (i.e., Poor diversification). The correlation of CGN Nuclear 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.

CGN Nuclear Correlation With Market

Good diversification

The correlation between CGN Nuclear Technology and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CGN Nuclear Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CGN Stock

0.82	600309	Wanhua Chemical Group	Pair Corr
0.73	002493	Rongsheng Petrochemical	Pair Corr
0.8	600010	Inner Mongolia BaoTou	Pair Corr
0.87	603260	Hoshine Silicon Ind	Pair Corr
0.82	688443	Chongqing Genrix Bio	Pair Corr
0.77	688027	QuantumCTek	Pair Corr
0.69	688047	Loongson Technology Corp	Pair Corr
0.74	600816	Anxin Trust	Pair Corr
0.8	688318	Shenzhen Fortune Trend	Pair Corr
0.68	600106	Chongqing Road Bridge	Pair Corr

Moving against CGN Stock

0.7	600160	Zhejiang Juhua	Pair Corr
0.47	688668	Dongguan Dingtong	Pair Corr
0.39	688981	Semiconductor Manufacturing	Pair Corr
0.69	603959	Hunan Baili Engineering	Pair Corr
0.61	603269	Jiangsu Seagull Cooling	Pair Corr
0.46	002418	Zhe Jiang Kangsheng	Pair Corr
0.39	605117	Ningbo Deye Technology	Pair Corr
0.34	600036	China Merchants Bank	Pair Corr
0.33	002630	China Western Power	Pair Corr

Related Correlations Analysis

	603501	688347	600805	300223	688261	603290	300046	688249
603501		0.84	0.22	0.82	0.42	0.45	-0.13	-0.03	603501
688347	0.84		0.37	0.83	0.67	0.67	0.31	0.4	688347
600805	0.22	0.37		0.37	0.69	0.69	0.27	0.3	600805
300223	0.82	0.83	0.37		0.68	0.65	0.26	0.35	300223
688261	0.42	0.67	0.69	0.68		0.97	0.7	0.62	688261
603290	0.45	0.67	0.69	0.65	0.97		0.65	0.6	603290
300046	-0.13	0.31	0.27	0.26	0.7	0.65		0.8	300046
688249	-0.03	0.4	0.3	0.35	0.62	0.6	0.8		688249
	603501	688347	600805	300223	688261	603290	300046	688249

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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

603290	+ 0.97	688261
688347	+ 0.84	603501
300223	+ 0.83	688347
300223	+ 0.82	603501
688249	+ 0.8	300046
300046	+ 0.7	688261

High negative correlations

300046	- 0.13	603501
688249	- 0.03	603501

Risk-Adjusted Indicators

There is a big difference between CGN Stock performing well and CGN Nuclear 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 CGN Nuclear'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
603501	2.03	0.50	0.24	1.49	1.74	(2.38)	5.01	(3.32)	15.05
688347	2.38	(0.05)	0.00	(0.23)	0.00	0.00	4.38	(5.06)	23.56
600805	1.37	(0.05)	0.00	0.11	0.00	0.00	2.55	(3.12)	10.00
300223	2.76	0.09	0.03	0.54	3.09	(3.47)	7.42	(5.82)	22.08
688261	2.28	(0.12)	0.00	0.54	0.00	0.00	4.48	(4.42)	13.29
603290	1.71	(0.10)	0.00	1.05	0.00	0.00	3.53	(3.49)	12.97
300046	2.66	(0.33)	0.00	1.94	0.00	0.00	5.84	(5.96)	17.78
688249	1.75	(0.29)	0.00	(7.67)	0.00	0.00	4.26	(3.87)	9.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in CGN Nuclear 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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