Zhuhai Bojay Correlations

002975 Stock

27.17 0.51 1.84%

The current 90-days correlation between Zhuhai Bojay Electronics and Biwin Storage Technology is 0.28 (i.e., Modest diversification). The correlation of Zhuhai Bojay 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.

Zhuhai Bojay Correlation With Market

Good diversification

The correlation between Zhuhai Bojay Electronics and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhuhai Bojay Electronics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zhuhai Stock

0.63

001299

Shaanxi Meineng Clean

Pair Corr

Moving against Zhuhai Stock

0.31

601600

Aluminum Corp

Pair Corr

Related Correlations Analysis

	688525	601857	601398	601939	600028	601288	601988	600941	600036	601318
688525		0.18	0.02	0.06	0.23	0.0	-0.13	0.0	0.45	0.49	688525
601857	0.18		0.86	0.88	0.83	0.83	0.82	0.78	0.7	-0.35	601857
601398	0.02	0.86		0.97	0.65	0.98	0.98	0.93	0.48	-0.6	601398
601939	0.06	0.88	0.97		0.67	0.97	0.95	0.89	0.57	-0.53	601939
600028	0.23	0.83	0.65	0.67		0.66	0.61	0.69	0.53	-0.13	600028
601288	0.0	0.83	0.98	0.97	0.66		0.96	0.9	0.49	-0.55	601288
601988	-0.13	0.82	0.98	0.95	0.61	0.96		0.92	0.39	-0.71	601988
600941	0.0	0.78	0.93	0.89	0.69	0.9	0.92		0.31	-0.64	600941
600036	0.45	0.7	0.48	0.57	0.53	0.49	0.39	0.31		0.24	600036
601318	0.49	-0.35	-0.6	-0.53	-0.13	-0.55	-0.71	-0.64	0.24		601318
	688525	601857	601398	601939	600028	601288	601988	600941	600036	601318

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

601288	+ 0.98	601398
601988	+ 0.98	601398
601939	+ 0.97	601398
601288	+ 0.97	601939
601988	+ 0.96	601288
601988	+ 0.95	601939

High negative correlations

601318	- 0.71	601988
601318	- 0.64	600941
601318	- 0.6	601398
601318	- 0.55	601288
601318	- 0.53	601939
601318	- 0.35	601857

Risk-Adjusted Indicators

There is a big difference between Zhuhai Stock performing well and Zhuhai Bojay 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 Zhuhai Bojay'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
688525	2.96	(0.25)	0.00	1.61	0.00	0.00	6.21	(5.41)	16.52
601857	1.07	0.06	0.04	0.87	1.15	(1.39)	2.73	(2.01)	7.09
601398	1.02	0.16	0.11	1.02	1.10	(1.30)	2.36	(1.71)	7.57
601939	0.99	0.17	0.12	9.08	1.05	(1.16)	2.00	(1.91)	8.64
600028	0.98	(0.04)	0.00	(0.28)	0.00	0.00	2.05	(1.89)	7.82
601288	0.98	0.14	0.08	1.19	1.33	(1.03)	2.20	(1.67)	9.01
601988	0.89	0.19	0.16	28.63	0.83	(1.12)	1.90	(1.54)	6.70
600941	0.99	0.05	0.02	1.06	1.14	(1.14)	2.20	(2.15)	6.82
600036	1.17	0.08	0.04	(3.90)	1.37	(1.26)	2.39	(2.11)	8.51
601318	1.20	(0.16)	0.00	1.40	0.00	0.00	2.68	(2.88)	10.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zhuhai Bojay 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.

Did you try this?

Run Economic Indicators Now

Economic Indicators

Top statistical indicators that provide insights into how an economy is performing

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC