Lianhe Chemical Correlations

002250 Stock

6.00 0.18 2.91%

The current 90-days correlation between Lianhe Chemical Tech and Sichuan Hebang Biotechnology is 0.79 (i.e., Poor diversification). The correlation of Lianhe Chemical 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.

Lianhe Chemical Correlation With Market

Good diversification

The correlation between Lianhe Chemical Technology and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lianhe Chemical Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Lianhe Stock

0.9	600019	Baoshan Iron Steel	Pair Corr
0.91	002493	Rongsheng Petrochemical	Pair Corr
0.93	600010	Inner Mongolia BaoTou	Pair Corr
0.92	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.93	603260	Hoshine Silicon Ind	Pair Corr
0.94	600160	Zhejiang Juhua	Pair Corr
0.77	000807	Yunnan Aluminium	Pair Corr
0.72	601398	Industrial and Commercial	Pair Corr
0.73	601939	China Construction Bank	Pair Corr
0.64	601988	Bank of China	Pair Corr
0.72	601658	Postal Savings Bank	Pair Corr
0.67	601328	Bank of Communications	Pair Corr
0.8	601318	Ping An Insurance	Pair Corr
0.79	600036	China Merchants Bank	Pair Corr
0.65	601166	Industrial Bank	Pair Corr
0.83	601998	China Citic Bank	Pair Corr

Related Correlations Analysis

	300871	603077	600390	600719	301113	300942	601618	601969
300871		0.92	0.86	0.9	0.96	0.93	0.87	0.94	300871
603077	0.92		0.88	0.87	0.93	0.86	0.91	0.96	603077
600390	0.86	0.88		0.84	0.87	0.77	0.96	0.92	600390
600719	0.9	0.87	0.84		0.87	0.87	0.83	0.89	600719
301113	0.96	0.93	0.87	0.87		0.93	0.91	0.95	301113
300942	0.93	0.86	0.77	0.87	0.93		0.81	0.88	300942
601618	0.87	0.91	0.96	0.83	0.91	0.81		0.93	601618
601969	0.94	0.96	0.92	0.89	0.95	0.88	0.93		601969
	300871	603077	600390	600719	301113	300942	601618	601969

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Risk-Adjusted Indicators

There is a big difference between Lianhe Stock performing well and Lianhe Chemical 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 Lianhe Chemical'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
300871	2.52	0.70	0.17	(8.42)	2.93	(2.85)	5.21	(3.68)	27.88
603077	2.07	0.48	0.15	(1.20)	2.08	(2.53)	5.39	(3.03)	18.14
600390	3.38	1.00	0.23	(1.98)	2.94	(3.80)	10.01	(5.11)	20.20
600719	3.56	0.80	0.18	1.23	3.57	(3.96)	10.03	(7.46)	20.07
301113	2.47	0.72	0.17	(6.73)	3.00	(2.67)	5.24	(3.84)	27.85
300942	3.31	0.65	0.15	1.31	3.58	(3.79)	6.45	(5.43)	27.38
601618	2.00	0.36	0.09	(2.39)	2.47	(2.35)	6.29	(3.49)	19.37
601969	2.18	0.64	0.17	(1.71)	2.27	(2.41)	6.90	(3.78)	20.01

Be your own money manager

Our tools can tell you how much better you can do entering a position in Lianhe Chemical 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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