Malion New Correlations

300586 Stock

8.62 0.22 2.62%

The current 90-days correlation between Malion New Materials and Duzhe Publishing Media is 0.56 (i.e., Very weak diversification). The correlation of Malion New 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.

Malion New Correlation With Market

Significant diversification

The correlation between Malion New Materials and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Malion New Materials and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Malion Stock

0.65	600019	Baoshan Iron Steel	Pair Corr
0.77	600010	Inner Mongolia BaoTou	Pair Corr
0.79	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.67	603260	Hoshine Silicon Ind	Pair Corr
0.74	600160	Zhejiang Juhua	Pair Corr
0.8	603365	Shanghai Shuixing Home	Pair Corr
0.87	002584	Xilong Chemical	Pair Corr
0.74	000428	Huatian Hotel Group	Pair Corr
0.85	000889	ZJBC Information Tec	Pair Corr
0.85	300880	Ningbo Jianan Electronics	Pair Corr
0.86	603313	Healthcare	Pair Corr
0.69	688507	Shanghai Suochen Inf	Pair Corr
0.81	688119	Sinosteel Luonai Mat	Pair Corr
0.77	605128	Shanghai Yanpu Metal	Pair Corr
0.79	600335	Sinomach Automobile	Pair Corr
0.65	600498	Fiberhome Telecommunicatio	Pair Corr
0.76	600719	Dalian Thermal Power	Pair Corr

Moving against Malion Stock

0.62	600547	Shandong Gold Mining	Pair Corr
0.52	601899	Zijin Mining Group	Pair Corr
0.41	600309	Wanhua Chemical Group	Pair Corr

Related Correlations Analysis

	600536	000729	002065	603999	601949	000558	300756	600386
600536		0.14	0.88	0.55	0.72	0.43	0.73	0.62	600536
000729	0.14		0.26	0.57	0.21	0.57	0.4	0.53	000729
002065	0.88	0.26		0.74	0.89	0.6	0.85	0.78	002065
603999	0.55	0.57	0.74		0.72	0.9	0.84	0.88	603999
601949	0.72	0.21	0.89	0.72		0.53	0.77	0.7	601949
000558	0.43	0.57	0.6	0.9	0.53		0.67	0.78	000558
300756	0.73	0.4	0.85	0.84	0.77	0.67		0.88	300756
600386	0.62	0.53	0.78	0.88	0.7	0.78	0.88		600386
	600536	000729	002065	603999	601949	000558	300756	600386

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Risk-Adjusted Indicators

There is a big difference between Malion Stock performing well and Malion New 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 Malion New'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
600536	3.33	0.52	0.13	0.65	3.47	(3.64)	10.00	(7.34)	18.19
000729	1.67	0.36	0.19	0.68	1.51	(2.13)	4.74	(2.70)	15.30
002065	2.82	0.79	0.19	3.62	3.28	(3.23)	9.97	(4.74)	19.97
603999	2.55	0.48	0.13	(9.94)	3.35	(2.76)	5.67	(4.57)	18.79
601949	2.72	0.47	0.10	(0.91)	3.64	(2.88)	7.37	(5.84)	20.05
000558	3.67	0.64	0.13	(3.14)	4.46	(3.90)	10.00	(8.00)	20.21
300756	2.78	0.50	0.11	0.55	3.71	(2.90)	5.25	(5.08)	32.01
600386	2.82	0.64	0.15	1.54	3.82	(2.98)	8.02	(6.40)	17.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in Malion New 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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