Jafron Biomedical Correlations

Stocks . China . 
Stock . Jafron Biomedical Co
300529 Stock   30.38  0.29  0.95%   
The current 90-days correlation between Jafron Biomedical and G bits Network Technology is 0.7 (i.e., Poor diversification). The correlation of Jafron Biomedical 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.

Jafron Biomedical Correlation With Market

Significant diversification

The correlation between Jafron Biomedical Co 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 Jafron Biomedical Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Jafron Biomedical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jafron Biomedical 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 Jafron Biomedical - 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 Jafron Biomedical Co to buy it.

Moving together with Jafron Stock

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  0.86688521 VeriSilicon MicroelectronicsPairCorr
  0.95300396 Dirui IndustrialPairCorr
  0.91900957 Shanghai Lingyun IndPairCorr
  0.86688036 Shenzhen TranssionPairCorr
  0.75000839 CITIC Guoan InformationPairCorr
  0.91301236 iSoftStone InformationPairCorr
  0.91688019 Anji MicroelectronicsPairCorr
  0.77601998 China Citic BankPairCorr
  0.79000598 Chengdu Xingrong InvPairCorr
  0.9002429 Shenzhen MTCPairCorr
  0.92002869 Shenzhen Genvict TecPairCorr
  0.94688203 Zhejiang HISUN BiomaPairCorr
  0.97301370 GKHT Medical TechnologyPairCorr
  0.81002941 Xinjiang CommunicationsPairCorr
  0.85603180 Xiamen GoldenhomePairCorr
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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   
000596
+ 0.96
200596
002371
+ 0.95
300750
000596
+ 0.94
600519
200596
+ 0.93
600519
300760
+ 0.93
000596
300760
+ 0.92
600519
  
High negative correlations   
002371
- 0.04
688169

Risk-Adjusted Indicators

There is a big difference between Jafron Stock performing well and Jafron Biomedical 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 Jafron Biomedical'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
600519  1.68  0.09  0.02  0.29  1.84 
(1.98)
 6.55 
(2.98)
 16.71 
300750  2.70  0.63  0.15 (20.91) 3.05 
(3.29)
 7.94 
(3.41)
 33.42 
603444  2.68  0.25  0.06  0.60  3.16 
(2.99)
 5.21 
(4.79)
 18.75 
688169  3.27  0.11  0.01  0.59  4.12 
(3.62)
 5.74 
(5.72)
 34.80 
002594  1.90  0.21  0.08  0.43  1.93 
(2.15)
 5.74 
(3.34)
 14.84 
200596  1.90  0.13  0.01  1.67  2.28 
(2.16)
 4.80 
(2.70)
 18.31 
000596  2.78  0.16  0.03  0.40  2.90 
(3.26)
 9.98 
(4.36)
 20.00 
002371  2.38  0.45  0.15  1.02  2.18 
(2.63)
 9.80 
(3.99)
 15.93 
300760  2.29  0.14  0.02  0.49  2.72 
(2.48)
 9.90 
(4.56)
 19.76 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jafron Biomedical 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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