Anker Innovations Correlations

300866 Stock

89.13 2.27 2.61%

The current 90-days correlation between Anker Innovations and Unisplendour Corp is 0.75 (i.e., Poor diversification). The correlation of Anker Innovations 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.

Anker Innovations Correlation With Market

Significant diversification

The correlation between Anker Innovations Technology 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 Anker Innovations Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Anker Stock

0.95	601628	China Life Insurance	Pair Corr
0.93	601059	Cinda Securities	Pair Corr
0.83	688072	Piotech Inc A	Pair Corr
0.91	601198	Dongxing Sec	Pair Corr
0.81	688293	Shanghai OPM Biosciences	Pair Corr
0.92	688126	National Silicon Industry	Pair Corr
0.78	000504	Nanhua Bio Medicine	Pair Corr
0.81	000061	Shenzhen Agricultural	Pair Corr
0.9	688012	Advanced Micro Fabri	Pair Corr

Related Correlations Analysis

	001299	601939	000938	002461	600756	002670	601318	000820
001299		0.73	0.9	0.62	0.89	0.88	0.77	0.88	001299
601939	0.73		0.74	0.76	0.76	0.8	0.89	0.63	601939
000938	0.9	0.74		0.69	0.95	0.84	0.9	0.89	000938
002461	0.62	0.76	0.69		0.67	0.72	0.84	0.49	002461
600756	0.89	0.76	0.95	0.67		0.85	0.89	0.94	600756
002670	0.88	0.8	0.84	0.72	0.85		0.83	0.78	002670
601318	0.77	0.89	0.9	0.84	0.89	0.83		0.73	601318
000820	0.88	0.63	0.89	0.49	0.94	0.78	0.73		000820
	001299	601939	000938	002461	600756	002670	601318	000820

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Risk-Adjusted Indicators

There is a big difference between Anker Stock performing well and Anker Innovations 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 Anker Innovations' 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
001299	1.89	0.27	0.08	1.53	2.14	(2.14)	4.15	(3.08)	15.29
601939	1.17	0.15	0.03	2.25	1.31	(1.38)	3.32	(2.14)	8.64
000938	2.44	0.41	0.10	(6.68)	2.66	(2.69)	8.06	(5.62)	15.96
002461	1.50	0.03	(0.01)	0.17	2.03	(1.56)	3.30	(2.87)	13.95
600756	2.88	0.85	0.17	(2.04)	3.08	(2.95)	8.83	(5.17)	19.98
002670	3.00	0.74	0.19	(4.77)	2.67	(3.99)	9.97	(4.70)	20.03
601318	1.79	0.35	0.12	1.26	1.89	(2.20)	5.83	(2.83)	19.77
000820	3.06	1.01	0.28	(1.48)	2.52	(4.06)	9.54	(4.15)	19.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in Anker Innovations 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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