Kuangda Technology Correlations

002516 Stock

5.34 0.05 0.93%

The current 90-days correlation between Kuangda Technology and Andon Health Co is 0.35 (i.e., Weak diversification). The correlation of Kuangda Technology 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.

Kuangda Technology Correlation With Market

Significant diversification

The correlation between Kuangda Technology Group and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kuangda Technology Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kuangda Stock

0.74

601318

Ping An Insurance

Pair Corr

Moving against Kuangda Stock

0.7	603959	Hunan Baili Engineering	Pair Corr
0.32	600938	CNOOC Limited	Pair Corr
0.31	601857	PetroChina	Pair Corr

Related Correlations Analysis

	002432	301293	002627	601319	002357	603712	002249	603043
002432		0.68	0.26	0.13	0.45	0.47	0.3	0.04	002432
301293	0.68		0.42	-0.08	0.71	0.71	0.71	0.04	301293
002627	0.26	0.42		0.53	0.08	0.63	0.33	0.78	002627
601319	0.13	-0.08	0.53		-0.42	0.23	-0.33	0.76	601319
002357	0.45	0.71	0.08	-0.42		0.58	0.69	-0.23	002357
603712	0.47	0.71	0.63	0.23	0.58		0.68	0.54	603712
002249	0.3	0.71	0.33	-0.33	0.69	0.68		0.0	002249
603043	0.04	0.04	0.78	0.76	-0.23	0.54	0.0		603043
	002432	301293	002627	601319	002357	603712	002249	603043

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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

603043	+ 0.78	002627
603043	+ 0.76	601319
002357	+ 0.71	301293
603712	+ 0.71	301293
002249	+ 0.71	301293
002249	+ 0.69	002357

High negative correlations

002357	- 0.42	601319
002249	- 0.33	601319
603043	- 0.23	002357
601319	- 0.08	301293
603043	- 0.0	002249

Risk-Adjusted Indicators

There is a big difference between Kuangda Stock performing well and Kuangda Technology 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 Kuangda Technology'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
002432	1.14	0.01	0.03	(0.05)	1.26	(1.28)	3.04	(2.27)	7.86
301293	2.41	0.07	0.04	(0.10)	3.18	(2.38)	5.07	(5.14)	22.16
002627	1.09	(0.05)	0.00	0.57	0.00	0.00	1.85	(2.94)	7.53
601319	1.18	(0.09)	0.00	(0.59)	0.00	0.00	2.16	(3.33)	9.06
002357	2.15	0.03	0.01	0.02	2.92	(2.39)	3.97	(4.34)	19.69
603712	2.14	(0.05)	0.00	0.07	0.00	0.00	4.94	(4.90)	13.65
002249	2.03	0.47	0.22	(4.73)	1.88	(2.48)	5.37	(3.39)	11.65
603043	0.92	(0.07)	0.00	17.55	0.00	0.00	2.16	(2.42)	6.73

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kuangda Technology 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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