Fibocom Wireless Correlations

Stocks . China . 
Stock . Fibocom Wireless
300638 Stock   21.63  0.75  3.35%   
The current 90-days correlation between Fibocom Wireless and Industrial and Commercial is -0.06 (i.e., Good diversification). The correlation of Fibocom Wireless 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.

Fibocom Wireless Correlation With Market

Good diversification

The correlation between Fibocom Wireless and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fibocom Wireless and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Fibocom Wireless could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fibocom Wireless 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 Fibocom Wireless - 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 Fibocom Wireless to buy it.

Moving together with Fibocom Stock

  0.61001299 Shaanxi Meineng CleanPairCorr
  0.83000995 Gansu Huangtai WinePairCorr
  0.65600223 Lushang PropertyPairCorr
  0.84605168 Threes CompanyPairCorr
  0.9002946 New Hope DairyPairCorr
  0.86603068 Beken CorpPairCorr
  0.71300433 Lens TechnologyPairCorr
  0.79002217 Holitech TechnologyPairCorr
  0.72300880 Ningbo Jianan ElectronicsPairCorr
  0.75605128 Shanghai Yanpu MetalPairCorr
  0.74601929 JiShi MediaPairCorr
  0.74002400 Guangdong AdvertisingPairCorr
  0.7603818 Qumei Furniture GroupPairCorr
  0.78603313 HealthcarePairCorr
  0.79600633 Zhejiang Daily MediaPairCorr
  0.81603103 Hengdian EntertainmentPairCorr
  0.79000909 Soyea TechnologyPairCorr
  0.88603969 Tianjin Silvery DragonPairCorr
  0.67688507 Shanghai Suochen InfPairCorr
  0.72688047 Loongson Technology CorpPairCorr
  0.87688325 Guangdong CellwisePairCorr
  0.7002382 Blue Sail MedicalPairCorr
  0.69002303 Shenzhen MYS EnvironPairCorr
  0.84603800 Suzhou Douson DrillingPairCorr
  0.71600584 JCET GroupPairCorr
  0.77000889 ZJBC Information TecPairCorr
  0.74603365 Shanghai Shuixing HomePairCorr
  0.88301379 Techshine ElectronicsPairCorr
  0.75600515 Hainan HNA InfrastructurePairCorr

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   
601988
+ 0.98
601398
601288
+ 0.97
601398
601988
+ 0.97
601288
601939
+ 0.96
601398
601939
+ 0.94
601288
601988
+ 0.92
601939
  
High negative correlations   
601318
- 0.04
601988
601318
- 0.04
601288

Risk-Adjusted Indicators

There is a big difference between Fibocom Stock performing well and Fibocom Wireless 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 Fibocom Wireless' 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
601398  1.14  0.30  0.23  3.37  0.98 
(1.53)
 2.83 
(1.71)
 8.14 
601288  1.05  0.23  0.15  1.71  1.10 
(1.15)
 2.98 
(1.89)
 7.78 
601939  1.14  0.29  0.18  1.70  1.15 
(1.37)
 3.32 
(1.93)
 8.64 
601988  1.01  0.25  0.19  1.56  0.91 
(1.30)
 2.67 
(1.98)
 7.70 
601658  1.35  0.26  0.14  1.71  1.32 
(1.66)
 3.49 
(2.23)
 9.13 
601328  1.33  0.24  0.15  4.50  1.22 
(1.56)
 3.26 
(2.12)
 10.82 
601318  1.80  0.31  0.13  0.89  1.97 
(2.28)
 5.83 
(2.88)
 19.77 
600036  1.56  0.38  0.17 (5.22) 1.72 
(1.80)
 4.65 
(2.56)
 13.83 
601166  1.38  0.27  0.13  2.13  1.49 
(1.47)
 3.84 
(2.41)
 12.07 
601998  1.53  0.26  0.11  2.30  1.82 
(1.75)
 3.02 
(2.37)
 13.33 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fibocom Wireless 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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