Hubei Yingtong Correlations

002861 Stock

13.47 0.09 0.67%

The current 90-days correlation between Hubei Yingtong Telec and Industrial and Commercial is -0.01 (i.e., Good diversification). The correlation of Hubei Yingtong 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.

Hubei Yingtong Correlation With Market

Very good diversification

The correlation between Hubei Yingtong Telecommunicati and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hubei Yingtong Telecommunicati and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998
601398		0.97	0.96	0.98	0.75	0.89	0.07	0.53	0.5	0.64	601398
601288	0.97		0.94	0.97	0.75	0.87	-0.04	0.44	0.46	0.61	601288
601939	0.96	0.94		0.92	0.87	0.9	0.26	0.69	0.62	0.7	601939
601988	0.98	0.97	0.92		0.73	0.87	-0.04	0.42	0.42	0.66	601988
601658	0.75	0.75	0.87	0.73		0.84	0.52	0.81	0.8	0.82	601658
601328	0.89	0.87	0.9	0.87	0.84		0.26	0.63	0.7	0.77	601328
601318	0.07	-0.04	0.26	-0.04	0.52	0.26		0.86	0.74	0.5	601318
600036	0.53	0.44	0.69	0.42	0.81	0.63	0.86		0.86	0.68	600036
601166	0.5	0.46	0.62	0.42	0.8	0.7	0.74	0.86		0.67	601166
601998	0.64	0.61	0.7	0.66	0.82	0.77	0.5	0.68	0.67		601998
	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998

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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

601988	+ 0.98	601398
601288	+ 0.97	601398
601988	+ 0.97	601288
601939	+ 0.96	601398
601939	+ 0.94	601288
601988	+ 0.92	601939

High negative correlations

601318	- 0.04	601988
601318	- 0.04	601288

Risk-Adjusted Indicators

There is a big difference between Hubei Stock performing well and Hubei Yingtong 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 Hubei Yingtong'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
601398	1.14	0.30	0.23	3.37	0.98	(1.53)	2.83	(1.71)	8.14
601288	1.05	0.23	0.15	1.71	1.10	(1.15)	2.98	(1.89)	7.78
601939	1.14	0.29	0.18	1.70	1.15	(1.37)	3.32	(1.93)	8.64
601988	1.01	0.25	0.19	1.56	0.91	(1.30)	2.67	(1.98)	7.70
601658	1.35	0.26	0.14	1.71	1.32	(1.66)	3.49	(2.23)	9.13
601328	1.33	0.24	0.15	4.50	1.22	(1.56)	3.26	(2.12)	10.82
601318	1.80	0.31	0.13	0.89	1.97	(2.28)	5.83	(2.88)	19.77
600036	1.56	0.38	0.17	(5.22)	1.72	(1.80)	4.65	(2.56)	13.83
601166	1.38	0.27	0.13	2.13	1.49	(1.47)	3.84	(2.41)	12.07
601998	1.53	0.26	0.11	2.30	1.82	(1.75)	3.02	(2.37)	13.33

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Our tools can tell you how much better you can do entering a position in Hubei Yingtong 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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