King Strong Correlations

300629 Stock

20.20 0.16 0.79%

The current 90-days correlation between King Strong New and Agricultural Bank of is -0.08 (i.e., Good diversification). The correlation of King Strong 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.

King Strong Correlation With Market

Good diversification

The correlation between King Strong New Material and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding King Strong New Material and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with King Stock

0.66	600519	Kweichow Moutai	Pair Corr
0.67	002594	BYD Co	Pair Corr
0.68	200596	Anhui Gujing Distillery	Pair Corr
0.66	002371	NAURA Technology	Pair Corr
0.72	300530	Hunan Lead Power	Pair Corr

Moving against King Stock

0.52

603959

Hunan Baili Engineering

Pair Corr

Related Correlations Analysis

	601288	601398	601988	601857	600028	601658	601728	601816
601288		0.77	0.73	0.05	0.14	0.77	0.33	0.19	601288
601398	0.77		0.69	-0.39	-0.25	0.47	0.72	-0.22	601398
601988	0.73	0.69		0.14	0.16	0.73	0.26	0.18	601988
601857	0.05	-0.39	0.14		0.94	0.25	-0.78	0.76	601857
600028	0.14	-0.25	0.16	0.94		0.24	-0.65	0.84	600028
601658	0.77	0.47	0.73	0.25	0.24		0.02	0.38	601658
601728	0.33	0.72	0.26	-0.78	-0.65	0.02		-0.54	601728
601816	0.19	-0.22	0.18	0.76	0.84	0.38	-0.54		601816
	601288	601398	601988	601857	600028	601658	601728	601816

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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

600028	+ 0.94	601857
601816	+ 0.84	600028
601398	+ 0.77	601288
601658	+ 0.77	601288
601816	+ 0.76	601857
601988	+ 0.73	601288

High negative correlations

601728	- 0.78	601857
601728	- 0.65	600028
601816	- 0.54	601728
601857	- 0.39	601398
600028	- 0.25	601398
601816	- 0.22	601398

Risk-Adjusted Indicators

There is a big difference between King Stock performing well and King Strong 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 King Strong'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
601288	0.85	0.02	0.03	0.06	1.15	(0.96)	1.79	(1.60)	7.85
601398	0.85	(0.01)	0.00	(0.06)	0.00	0.00	2.25	(1.91)	5.53
601988	0.89	0.02	0.03	0.06	1.10	(1.02)	2.21	(2.39)	5.28
601857	0.90	(0.15)	0.00	(5.49)	0.00	0.00	1.58	(2.60)	5.32
600028	0.70	(0.26)	0.00	12.21	0.00	0.00	1.22	(1.80)	3.35
601658	0.89	(0.04)	0.00	(0.17)	0.00	0.00	1.97	(1.47)	8.59
601728	1.59	0.11	0.08	(0.74)	1.55	(2.05)	3.16	(2.87)	13.14
601816	0.74	(0.19)	0.00	2.76	0.00	0.00	1.43	(1.94)	3.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in King Strong 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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King Strong Corporate Executives

Elected by the shareholders, the King Strong's board of directors comprises two types of representatives: King Strong inside directors who are chosen from within the company, and outside directors, selected externally and held independent of King. The board's role is to monitor King Strong's management team and ensure that shareholders' interests are well served. King Strong's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, King Strong's outside directors are responsible for providing unbiased perspectives on the board's policies.

Haiyan Luo

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