Jiangsu Hoperun Correlations

300339 Stock

53.90 2.03 3.91%

The current 90-days correlation between Jiangsu Hoperun Software and Meinian Onehealth Healthcare is 0.31 (i.e., Weak diversification). The correlation of Jiangsu Hoperun 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.

Jiangsu Hoperun Correlation With Market

Significant diversification

The correlation between Jiangsu Hoperun Software and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Hoperun Software and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jiangsu Stock

0.83	603444	G bits Network	Pair Corr
0.78	002594	BYD Co	Pair Corr
0.75	002371	NAURA Technology	Pair Corr
0.61	300760	Shenzhen Mindray Bio	Pair Corr

Related Correlations Analysis

	002044	002919	000503	600079	508068	688335	508098
002044		0.83	0.76	-0.68	0.22	0.64	0.57	002044
002919	0.83		0.7	-0.41	0.2	0.62	0.37	002919
000503	0.76	0.7		-0.23	-0.19	0.75	0.1	000503
600079	-0.68	-0.41	-0.23		-0.57	-0.31	-0.87	600079
508068	0.22	0.2	-0.19	-0.57		0.01	0.79	508068
688335	0.64	0.62	0.75	-0.31	0.01		0.22	688335
508098	0.57	0.37	0.1	-0.87	0.79	0.22		508098
	002044	002919	000503	600079	508068	688335	508098

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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

002919	+ 0.83	002044
508098	+ 0.79	508068
000503	+ 0.76	002044
688335	+ 0.75	000503
000503	+ 0.7	002919
688335	+ 0.64	002044

High negative correlations

508098	- 0.87	600079
600079	- 0.68	002044
508068	- 0.57	600079
600079	- 0.41	002919
688335	- 0.31	600079
600079	- 0.23	000503

Risk-Adjusted Indicators

There is a big difference between Jiangsu Stock performing well and Jiangsu Hoperun 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 Jiangsu Hoperun'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
002044	2.60	0.24	0.12	(0.39)	2.26	(3.57)	9.92	(3.50)	17.06
002919	2.37	(0.02)	0.00	(0.20)	0.00	0.00	5.43	(4.97)	18.34
000503	2.66	(0.11)	0.00	0.18	0.00	0.00	6.19	(5.28)	18.27
600079	1.53	(0.17)	0.00	(1.55)	0.00	0.00	2.33	(3.54)	13.62
508068	0.88	0.18	0.18	0.51	0.83	(1.09)	1.89	(1.52)	6.96
688335	1.60	0.02	0.03	(0.10)	2.05	(1.64)	2.85	(2.97)	8.78
508098	0.87	0.40	0.54	(8.97)	0.00	(1.29)	2.31	(0.88)	8.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jiangsu Hoperun 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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