Sichuan Fulin Correlations

002357 Stock

7.49 0.19 2.47%

The current 90-days correlation between Sichuan Fulin Transp and Eastern Communications Co is 0.29 (i.e., Modest diversification). The correlation of Sichuan Fulin 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.

Sichuan Fulin Correlation With Market

Modest diversification

The correlation between Sichuan Fulin Transportation and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Fulin Transportation and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sichuan Stock

0.86	002371	NAURA Technology	Pair Corr
0.69	002594	BYD Co	Pair Corr
0.67	688111	Beijing Kingsoft Office	Pair Corr
0.69	002501	Jilin Liyuan Precision	Pair Corr
0.73	002616	Guangdong Chant Group	Pair Corr
0.75	300780	Sichuan Dawn Precision	Pair Corr
0.84	300354	DongHua Testing Tech	Pair Corr
0.82	300530	Hunan Lead Power	Pair Corr

Moving against Sichuan Stock

0.45

603959

Hunan Baili Engineering

Pair Corr

Related Correlations Analysis

	000973	900941	600498	603226	603818	002293	002798	002591
000973		0.85	0.76	0.89	0.65	0.01	0.45	0.73	000973
900941	0.85		0.67	0.74	0.76	-0.02	0.58	0.81	900941
600498	0.76	0.67		0.78	0.51	-0.3	0.25	0.55	600498
603226	0.89	0.74	0.78		0.53	-0.15	0.26	0.62	603226
603818	0.65	0.76	0.51	0.53		0.17	0.74	0.89	603818
002293	0.01	-0.02	-0.3	-0.15	0.17		0.13	0.0	002293
002798	0.45	0.58	0.25	0.26	0.74	0.13		0.7	002798
002591	0.73	0.81	0.55	0.62	0.89	0.0	0.7		002591
	000973	900941	600498	603226	603818	002293	002798	002591

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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

603226	+ 0.89	000973
002591	+ 0.89	603818
900941	+ 0.85	000973
002591	+ 0.81	900941
603226	+ 0.78	600498
600498	+ 0.76	000973

High negative correlations

002293	- 0.3	600498
002293	- 0.15	603226
002293	- 0.02	900941
002591	- 0.0	002293

Risk-Adjusted Indicators

There is a big difference between Sichuan Stock performing well and Sichuan Fulin 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 Sichuan Fulin'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
000973	2.20	0.08	0.07	(0.18)	2.50	(2.40)	5.16	(3.95)	14.72
900941	1.28	0.00	0.02	(0.06)	1.57	(2.83)	2.63	(2.50)	7.57
600498	2.60	0.35	0.13	0.54	2.60	(3.08)	6.88	(4.43)	16.70
603226	2.78	0.51	0.13	0.43	3.29	(2.98)	6.30	(5.42)	17.21
603818	1.95	(0.20)	0.00	(1.09)	0.00	0.00	4.81	(3.97)	13.41
002293	1.21	0.00	0.04	(0.12)	1.62	(1.30)	2.49	(2.56)	10.99
002798	2.31	(0.20)	0.00	(1.13)	0.00	0.00	3.75	(6.47)	20.15
002591	2.23	(0.16)	0.00	(0.61)	0.00	0.00	3.24	(6.30)	15.75

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sichuan Fulin 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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