Imeik Technology Correlations

300896 Stock   174.89  2.40  1.39%   
The current 90-days correlation between Imeik Technology Dev and Shandong Mining Machinery is 0.32 (i.e., Weak diversification). The correlation of Imeik Technology 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.

Imeik Technology Correlation With Market

Good diversification

The correlation between Imeik Technology Development and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imeik Technology Development and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Imeik Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Imeik Technology 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 Imeik Technology - 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 Imeik Technology Development to buy it.

Moving together with Imeik Stock

  0.88300841 Chengdu Kanghua BiolPairCorr
  0.9603392 Beijing Wantai BiologicalPairCorr
  0.78300364 COL Digital PublishingPairCorr
  0.73688137 Suzhou NovoproteinPairCorr

Moving against Imeik Stock

  0.43603583 Zhejiang Jiecang LinearPairCorr
  0.32688219 Orinko Advanced PlasticsPairCorr

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   
000793300987
603132300987
000793002526
300987002526
000793603132
600633601899
  
High negative correlations   
601121601899
601121600633
000793601899
601121601717
603132601899
600633603132

Risk-Adjusted Indicators

There is a big difference between Imeik Stock performing well and Imeik Technology 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 Imeik Technology'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Imeik Technology 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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