Luolai Home Correlations

002293 Stock   7.68  0.11  1.45%   
The current 90-days correlation between Luolai Home Textile and Citic Guoan Wine is -0.08 (i.e., Good diversification). The correlation of Luolai Home 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.

Luolai Home Correlation With Market

Very good diversification

The correlation between Luolai Home Textile and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Luolai Home Textile and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Luolai Home could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Luolai Home 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 Luolai Home - 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 Luolai Home Textile to buy it.

Moving together with Luolai Stock

  0.71601668 China State ConstructionPairCorr
  0.63600028 China Petroleum ChemicalPairCorr
  0.69601390 China Railway GroupPairCorr

Moving against Luolai Stock

  0.79603306 HMTNew TechnicalPairCorr
  0.63601398 Industrial and CommercialPairCorr
  0.55002594 BYD CoPairCorr
  0.47601988 Bank of China LimitedPairCorr
  0.45601939 China Construction BankPairCorr
  0.83180101 Bosera CMSK IndustrialPairCorr
  0.72301439 Weihai Honglin ElectronicPairCorr
  0.69002967 Grg MetrologyPairCorr
  0.61300001 Qingdao TGOOD ElectricPairCorr
  0.53688159 Shenzhen Neoway TechPairCorr
  0.47603259 WuXi AppTecPairCorr
  0.43603636 Linewell SoftwarePairCorr
  0.37688256 Cambricon TechnologiesPairCorr

Related Correlations Analysis

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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   
600419001318
002443600084
300098002443
300098600084
300098001318
001318600084
  
High negative correlations   
002847002443
002847300098
002847600084
002847002671
002847001318
002847605339

Risk-Adjusted Indicators

There is a big difference between Luolai Stock performing well and Luolai Home 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 Luolai Home'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Luolai Home 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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