Gotion High Correlations

Stocks . China . 
Stock . Gotion High tech
002074 Stock   21.82  0.09  0.41%   
The current 90-days correlation between Gotion High tech and Industrial and Commercial is -0.29 (i.e., Very good diversification). The correlation of Gotion High 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.

Gotion High Correlation With Market

Good diversification

The correlation between Gotion High tech and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotion High tech and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Gotion High could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gotion High 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 Gotion High - 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 Gotion High tech to buy it.

Moving together with Gotion Stock

  0.82200468 Nanjing Putian TelecPairCorr
  0.69600322 Tianjin Realty DevelPairCorr
  0.85300391 Kangyue TechnologyPairCorr
  0.64000692 Shenyang Huitian ThermalPairCorr
  0.73300301 Shenzhen Changfang LightPairCorr
  0.69300013 Jiangsu Xinning ModernPairCorr
  0.87688325 Guangdong CellwisePairCorr
  0.64002217 Holitech TechnologyPairCorr
  0.79000560 5I5j Holding GroupPairCorr
  0.88688119 Sinosteel Luonai MatPairCorr
  0.66603969 Tianjin Silvery DragonPairCorr
  0.77300880 Ningbo Jianan ElectronicsPairCorr
  0.65002946 New Hope DairyPairCorr
  0.86300815 Eit EnvironmentalPairCorr
  0.68002584 Xilong ChemicalPairCorr
  0.75002893 Beijing HuaYuanYiTongPairCorr
  0.85300433 Lens TechnologyPairCorr
  0.69600719 Dalian Thermal PowerPairCorr
  0.83605128 Shanghai Yanpu MetalPairCorr
  0.83300359 Qtone Education GroupPairCorr
  0.62002303 Shenzhen MYS EnvironPairCorr
  0.7603068 Beken CorpPairCorr
  0.89688082 ACM Research ShanghaiPairCorr
  0.85688047 Loongson Technology CorpPairCorr
  0.73000506 Zhongrun ResourcesPairCorr
  0.71603313 HealthcarePairCorr
  0.96002466 Sichuan Tianqi LithiumPairCorr
  0.93000661 Changchun High NewPairCorr
  0.89688507 Shanghai Suochen InfPairCorr
  0.77300825 Iat Automobile TechnologyPairCorr
  0.85600498 Fiberhome TelecommunicatioPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Gotion Stock performing well and Gotion High 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 Gotion High'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601398  1.09  0.25  0.18  3.08  1.01 
(1.43)
 2.83 
(1.71)
 8.14 
601288  1.02  0.18  0.11  1.44  1.25 
(1.11)
 2.20 
(1.89)
 7.78 
601939  1.11  0.26  0.16  1.80  1.16 
(1.32)
 3.32 
(1.93)
 8.64 
601988  1.00  0.19  0.14  1.27  0.97 
(1.27)
 2.67 
(1.98)
 7.70 
601658  1.34  0.28  0.15  1.71  1.32 
(1.62)
 3.49 
(2.23)
 9.13 
601328  1.31  0.21  0.13  4.52  1.24 
(1.56)
 3.26 
(2.12)
 10.82 
600036  1.56  0.37  0.17 (3.67) 1.76 
(1.79)
 4.65 
(2.56)
 13.83 
601166  1.38  0.25  0.12  1.73  1.50 
(1.52)
 3.84 
(2.41)
 12.07 
601998  1.49  0.26  0.11  3.45  1.81 
(1.63)
 3.02 
(2.37)
 13.33 
600000  1.38  0.23  0.13  3.97  1.33 
(1.64)
 3.69 
(2.14)
 10.95 

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