ZhongAn Online Correlations

Stocks . Germany . 
Stock . ZhongAn Online P
1ZO Stock   1.43  0.00  0.00%   
The current 90-days correlation between ZhongAn Online P and Apple Inc is 0.04 (i.e., Significant diversification). The correlation of ZhongAn Online 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ZhongAn Online Correlation With Market

Average diversification

The correlation between ZhongAn Online P and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZhongAn Online P and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ZhongAn Online could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ZhongAn Online 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 ZhongAn Online - 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 ZhongAn Online P to buy it.

Moving together with ZhongAn Stock

  0.72XYTA CHINA HUARONG ENERHDPairCorr

Moving against ZhongAn Stock

  0.48MSF MicrosoftPairCorr
  0.48MSF MicrosoftPairCorr
  0.48MSF MicrosoftPairCorr
  0.47APC Apple IncPairCorr
  0.47APC Apple IncPairCorr
  0.47APC Apple IncPairCorr
  0.47MSF MicrosoftPairCorr
  0.46APC Apple IncPairCorr
  0.46APC Apple IncPairCorr
  0.46APC Apple IncPairCorr
  0.49MSF MicrosoftPairCorr
  0.48D4G Datametrex AI LimitedPairCorr
  0.412CDA Controladora Vuela CompaaPairCorr
  0.382T9A TRAINLINE PLC LSPairCorr
  0.370XHR Xenia Hotels ResortsPairCorr
  0.37EN3 EnbridgePairCorr
  0.35WD5A TRAVEL LEISURE DLPairCorr
  0.34TSFA Taiwan SemiconductorPairCorr
  0.34FFH Fifth Third BancorpPairCorr
  0.5VAI Vail ResortsPairCorr
  0.41AZ5 AutoZonePairCorr
  0.39PPB Flutter Entertainment PLCPairCorr
  0.394GE Grupo Mxico SABPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between ZhongAn Stock performing well and ZhongAn Online 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 ZhongAn Online'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.88  0.27  0.21  1.71  0.89 
(0.97)
 1.81 
(1.75)
 4.97 
APC  0.84  0.27  0.20  4.25  0.97 
(0.93)
 1.88 
(1.73)
 5.24 
APC  0.84  0.28  0.23  5.35  0.82 
(0.93)
 2.06 
(1.76)
 4.50 
APC  0.91  0.29  0.19  20.62  1.05 
(0.98)
 2.22 
(1.83)
 6.45 
APC  0.95  0.29  0.25 (3.78) 0.75 
(1.12)
 2.83 
(1.69)
 5.24 
APC  0.83  0.28  0.21  1.38  1.00 
(0.93)
 1.88 
(1.61)
 6.46 
MSF  0.97  0.10  0.06  1.09  1.27 
(1.17)
 2.55 
(1.61)
 8.71 
MSF  1.06  0.10  0.05  1.29  1.41 
(1.17)
 2.35 
(1.92)
 9.11 
MSF  1.01  0.11  0.05  1.00  1.49 
(1.16)
 2.42 
(1.93)
 11.42 
MSF  0.91  0.13  0.07 (5.19) 1.33 
(0.99)
 2.04 
(1.49)
 8.79 

Be your own money manager

Our tools can tell you how much better you can do entering a position in ZhongAn Online 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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