Kingnet Network Correlations

002517 Stock

16.00 0.10 0.62%

The current 90-days correlation between Kingnet Network and Emdoor Information Co is 0.3 (i.e., Weak diversification). The correlation of Kingnet Network 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.

Kingnet Network Correlation With Market

Average diversification

The correlation between Kingnet Network Co and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kingnet Network Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kingnet Stock

0.88	603259	WuXi AppTec	Pair Corr
0.95	688159	Shenzhen Neoway Tech	Pair Corr
0.79	688393	Guangzhou LBP Medicine	Pair Corr
0.81	301236	iSoftStone Information	Pair Corr
0.8	300001	Qingdao TGOOD Electric	Pair Corr
0.72	180101	Bosera CMSK Industrial	Pair Corr
0.79	301439	Weihai Honglin Electronic	Pair Corr
0.92	603636	Linewell Software	Pair Corr
0.62	688013	Touchstone International	Pair Corr
0.78	002967	Grg Metrology	Pair Corr
0.69	688558	Nantong Guosheng Int	Pair Corr

Moving against Kingnet Stock

0.5	001979	China Merchants Shekou	Pair Corr
0.49	601668	China State Construction	Pair Corr
0.46	600048	Poly Real Estate	Pair Corr
0.34	600325	Huafa Industrial	Pair Corr

Related Correlations Analysis

	001314	688387	002231	000070	301178	900941	301022	300096
001314		0.2	0.13	0.56	0.26	0.28	0.21	0.36	001314
688387	0.2		0.8	0.6	0.81	0.87	0.89	0.82	688387
002231	0.13	0.8		0.54	0.65	0.71	0.76	0.73	002231
000070	0.56	0.6	0.54		0.67	0.67	0.72	0.8	000070
301178	0.26	0.81	0.65	0.67		0.84	0.9	0.86	301178
900941	0.28	0.87	0.71	0.67	0.84		0.88	0.75	900941
301022	0.21	0.89	0.76	0.72	0.9	0.88		0.89	301022
300096	0.36	0.82	0.73	0.8	0.86	0.75	0.89		300096
	001314	688387	002231	000070	301178	900941	301022	300096

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Risk-Adjusted Indicators

There is a big difference between Kingnet Stock performing well and Kingnet Network 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 Kingnet Network'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
001314	3.43	0.59	0.15	279.77	3.66	(3.89)	10.00	(5.52)	20.01
688387	1.60	(0.02)	0.00	(0.16)	0.00	0.00	3.33	(2.93)	8.45
002231	2.69	0.19	0.05	0.56	3.72	(2.66)	5.50	(6.39)	20.02
000070	1.60	0.27	0.12	0.68	2.07	(1.63)	3.75	(3.34)	10.03
301178	2.72	0.34	0.09	0.62	3.53	(2.90)	5.37	(5.14)	26.64
900941	1.45	0.08	0.03	(1.70)	1.70	(2.76)	2.63	(2.56)	10.01
301022	1.82	0.13	0.05	0.41	2.61	(1.76)	4.09	(5.26)	11.34
300096	2.02	0.17	0.06	0.67	2.87	(2.08)	4.58	(5.28)	12.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kingnet Network 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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