Shenzhen Dynanonic Correlations
| 300769 Stock | 40.18 0.37 0.93% |
The current 90-days correlation between Shenzhen Dynanonic and Jiangxi Ganfeng Lithium is 0.8 (i.e., Very poor diversification). The correlation of Shenzhen Dynanonic 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.
Shenzhen Dynanonic Correlation With Market
Significant diversification
The correlation between Shenzhen Dynanonic Co 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 Shenzhen Dynanonic Co and DJI in the same portfolio, assuming nothing else is changed.
Shenzhen |
The ability to find closely correlated positions to Shenzhen Dynanonic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shenzhen Dynanonic 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 Shenzhen Dynanonic - 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 Shenzhen Dynanonic Co to buy it.
Moving together with Shenzhen Stock
| 0.82 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.77 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.79 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.86 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.79 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.85 | 600160 | Zhejiang Juhua | PairCorr |
| 0.62 | 000807 | Yunnan Aluminium | PairCorr |
| 0.73 | 601318 | Ping An Insurance | PairCorr |
| 0.61 | 601728 | China Telecom Corp | PairCorr |
| 0.76 | 601668 | China State Construction | PairCorr |
| 0.72 | 600519 | Kweichow Moutai | PairCorr |
| 0.79 | 601628 | China Life Insurance | PairCorr |
| 0.83 | 002893 | Beijing HuaYuanYiTong | PairCorr |
| 0.85 | 603313 | Healthcare | PairCorr |
| 0.69 | 000909 | Soyea Technology | PairCorr |
| 0.73 | 301390 | Hangzhou Gisway Info | PairCorr |
| 0.76 | 603969 | Tianjin Silvery Dragon | PairCorr |
| 0.72 | 605388 | JuneYao Dairy | PairCorr |
| 0.75 | 603068 | Beken Corp | PairCorr |
| 0.83 | 300825 | Iat Automobile Technology | PairCorr |
| 0.64 | 000889 | ZJBC Information Tec | PairCorr |
| 0.8 | 002303 | Shenzhen MYS Environ | PairCorr |
| 0.94 | 300880 | Ningbo Jianan Electronics | PairCorr |
| 0.89 | 300815 | Eit Environmental | PairCorr |
| 0.8 | 600498 | Fiberhome Telecommunicatio | PairCorr |
| 0.74 | 603365 | Shanghai Shuixing Home | PairCorr |
| 0.77 | 600455 | ButOne Information Corp | PairCorr |
| 0.79 | 600515 | Hainan HNA Infrastructure | PairCorr |
| 0.9 | 605128 | Shanghai Yanpu Metal | PairCorr |
| 0.76 | 600719 | Dalian Thermal Power | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Shenzhen Stock performing well and Shenzhen Dynanonic 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 Shenzhen Dynanonic'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601899 | 1.64 | 0.12 | 0.03 | (0.40) | 2.04 | 3.26 | 10.10 | |||
| 600309 | 1.77 | 0.11 | 0.03 | (0.57) | 2.27 | 3.92 | 16.38 | |||
| 600019 | 1.66 | 0.38 | 0.12 | (1.83) | 2.02 | 4.80 | 17.37 | |||
| 600547 | 1.35 | (0.13) | 0.00 | 0.50 | 0.00 | 2.39 | 12.15 | |||
| 600010 | 2.46 | 0.56 | 0.17 | (0.74) | 2.44 | 7.46 | 19.48 | |||
| 002460 | 3.18 | 0.65 | 0.18 | (3.42) | 3.05 | 9.99 | 20.00 | |||
| 603260 | 2.00 | 0.32 | 0.10 | (0.84) | 2.46 | 4.90 | 17.89 | |||
| 600160 | 2.17 | 0.66 | 0.27 | 11.15 | 1.83 | 6.09 | 15.23 | |||
| 000807 | 2.05 | 0.38 | 0.14 | 0.94 | 2.29 | 5.75 | 15.53 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Shenzhen Dynanonic 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.Did you try this?
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