Xinjiang Goldwind Correlations

002202 Stock

10.66 0.02 0.19%

The current 90-days correlation between Xinjiang Goldwind Science and China Vanke Co is 0.58 (i.e., Very weak diversification). The correlation of Xinjiang Goldwind 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.

Xinjiang Goldwind Correlation With Market

Good diversification

The correlation between Xinjiang Goldwind Science and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xinjiang Goldwind Science and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Xinjiang Stock

0.75	600519	Kweichow Moutai	Pair Corr
0.74	300760	Shenzhen Mindray Bio	Pair Corr
0.91	603688	Jiangsu Pacific Quartz	Pair Corr
0.61	688036	Shenzhen Transsion	Pair Corr
0.88	000568	Luzhou Lao Jiao	Pair Corr
0.92	300750	Contemporary Amperex	Pair Corr
0.89	000858	Wuliangye Yibin	Pair Corr
0.62	688656	HOB Biotech Group	Pair Corr
0.88	002371	NAURA Technology	Pair Corr

Related Correlations Analysis

	601668	600048	000002	001979	600325	601995	600519	600153	300750	600340
601668		0.96	0.95	0.86	0.96	0.89	0.87	0.93	0.86	0.49	601668
600048	0.96		0.98	0.92	0.99	0.88	0.85	0.89	0.81	0.48	600048
000002	0.95	0.98		0.88	0.97	0.91	0.89	0.88	0.81	0.39	000002
001979	0.86	0.92	0.88		0.93	0.86	0.81	0.89	0.83	0.66	001979
600325	0.96	0.99	0.97	0.93		0.9	0.89	0.91	0.84	0.5	600325
601995	0.89	0.88	0.91	0.86	0.9		0.92	0.89	0.92	0.57	601995
600519	0.87	0.85	0.89	0.81	0.89	0.92		0.85	0.82	0.42	600519
600153	0.93	0.89	0.88	0.89	0.91	0.89	0.85		0.92	0.68	600153
300750	0.86	0.81	0.81	0.83	0.84	0.92	0.82	0.92		0.73	300750
600340	0.49	0.48	0.39	0.66	0.5	0.57	0.42	0.68	0.73		600340
	601668	600048	000002	001979	600325	601995	600519	600153	300750	600340

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Risk-Adjusted Indicators

There is a big difference between Xinjiang Stock performing well and Xinjiang Goldwind 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 Xinjiang Goldwind'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
601668	1.93	0.25	0.08	0.74	2.32	(2.15)	5.25	(3.67)	15.78
600048	2.17	0.35	0.09	4.09	3.01	(2.34)	5.27	(3.62)	20.02
000002	2.35	0.42	0.11	(1.18)	2.69	(2.60)	8.70	(3.22)	20.01
001979	2.39	0.29	0.08	1.29	2.83	(2.41)	4.99	(3.86)	19.96
600325	1.98	0.23	0.06	1.93	2.71	(2.11)	3.81	(3.24)	20.03
601995	2.41	0.41	0.11	(1.24)	2.75	(2.85)	8.00	(4.75)	20.01
600519	1.69	0.17	0.06	0.48	1.80	(1.97)	6.55	(2.98)	16.71
600153	2.03	0.50	0.17	(8.11)	2.16	(2.48)	6.39	(3.19)	19.45
300750	2.78	0.68	0.17	(3.53)	3.07	(3.22)	7.94	(3.41)	33.42
600340	5.38	1.94	0.28	(2.92)	4.70	(6.55)	10.14	(9.82)	20.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Xinjiang Goldwind 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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