Yunnan Chuangxin Correlations
| 002812 Stock | 33.03 0.74 2.19% |
The current 90-days correlation between Yunnan Chuangxin New and Hoshine Silicon Ind is 0.68 (i.e., Poor diversification). The correlation of Yunnan Chuangxin 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.
Yunnan Chuangxin Correlation With Market
Significant diversification
The correlation between Yunnan Chuangxin New and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yunnan Chuangxin New and DJI in the same portfolio, assuming nothing else is changed.
Yunnan |
The ability to find closely correlated positions to Yunnan Chuangxin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yunnan Chuangxin 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 Yunnan Chuangxin - 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 Yunnan Chuangxin New to buy it.
Moving together with Yunnan Stock
| 0.76 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.88 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.86 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.91 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.84 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.84 | 600160 | Zhejiang Juhua | PairCorr |
| 0.66 | 000807 | Yunnan Aluminium | PairCorr |
| 0.85 | 002998 | Elite Color Environmental | PairCorr |
| 0.84 | 600885 | Hongfa Technology | PairCorr |
| 0.82 | 000555 | Digital China Information | PairCorr |
| 0.89 | 301359 | Dongnan Electronics | PairCorr |
| 0.77 | 002516 | Kuangda Technology | PairCorr |
| 0.89 | 002138 | Shenzhen Sunlord Ele | PairCorr |
| 0.79 | 002129 | TCL Zhonghuan Renewable | PairCorr |
| 0.72 | 600519 | Kweichow Moutai | PairCorr |
| 0.95 | 002371 | NAURA Technology | PairCorr |
| 0.73 | 900934 | Shanghai Jin Jiang | PairCorr |
| 0.65 | 601998 | China Citic Bank | PairCorr |
| 0.92 | 000036 | China Union Holdings | PairCorr |
| 0.87 | 300391 | Kangyue Technology | PairCorr |
| 0.77 | 000063 | ZTE Corp | PairCorr |
| 0.9 | 300750 | Contemporary Amperex | PairCorr |
| 0.81 | 000157 | Zoomlion Heavy Industry | PairCorr |
| 0.8 | 300378 | Digiwin Software | PairCorr |
| 0.83 | 600170 | Shanghai Construction | PairCorr |
| 0.79 | 603259 | WuXi AppTec | PairCorr |
| 0.83 | 300033 | Hithink RoyalFlush Info | PairCorr |
| 0.61 | 600104 | SAIC Motor Corp | PairCorr |
| 0.71 | 002293 | Luolai Home Textile | PairCorr |
| 0.81 | 300301 | Shenzhen Changfang Light | PairCorr |
Moving against Yunnan Stock
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Yunnan Stock performing well and Yunnan Chuangxin 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 Yunnan Chuangxin'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601899 | 1.68 | 0.15 | 0.06 | (0.53) | 1.96 | 3.35 | 10.10 | |||
| 600309 | 1.76 | 0.10 | 0.03 | (0.45) | 2.27 | 3.92 | 16.38 | |||
| 600019 | 1.67 | 0.36 | 0.12 | (1.72) | 1.99 | 4.80 | 17.37 | |||
| 600547 | 1.38 | (0.08) | 0.00 | 0.32 | 0.00 | 2.59 | 12.15 | |||
| 002493 | 1.50 | 0.17 | 0.07 | (3.73) | 1.98 | 4.12 | 15.52 | |||
| 600010 | 2.45 | 0.55 | 0.17 | (0.71) | 2.44 | 7.46 | 19.48 | |||
| 002460 | 3.23 | 0.54 | 0.14 | (2.24) | 3.15 | 9.99 | 20.00 | |||
| 603260 | 2.02 | 0.29 | 0.09 | (0.74) | 2.48 | 4.90 | 17.89 | |||
| 600160 | 2.18 | 0.67 | 0.28 | 10.59 | 1.86 | 6.09 | 15.23 | |||
| 000807 | 2.05 | 0.36 | 0.13 | 0.91 | 2.26 | 5.75 | 15.53 |
Be your own money manager
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