Imeik Technology Correlations

300896 Stock

206.06 2.01 0.97%

The current 90-days correlation between Imeik Technology Dev and Caihong Display Devices is 0.74 (i.e., Poor 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

Significant diversification

The correlation between Imeik Technology Development and DJI is 0.03 (i.e., Significant 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

0.95	601628	China Life Insurance	Pair Corr
0.96	601059	Cinda Securities	Pair Corr
0.74	688072	Piotech Inc A	Pair Corr
0.86	601198	Dongxing Sec	Pair Corr
0.69	688293	Shanghai OPM Biosciences	Pair Corr
0.92	688126	National Silicon Industry	Pair Corr
0.62	603993	China Molybdenum	Pair Corr
0.71	000504	Nanhua Bio Medicine	Pair Corr
0.65	000061	Shenzhen Agricultural	Pair Corr
0.81	688012	Advanced Micro Fabri	Pair Corr

Related Correlations Analysis

	600707	300396	301053	002748	000523	002149	601717	601002
600707		0.84	0.81	0.61	0.83	0.81	0.84	0.71	600707
300396	0.84		0.88	0.47	0.77	0.74	0.87	0.62	300396
301053	0.81	0.88		0.5	0.81	0.84	0.83	0.68	301053
002748	0.61	0.47	0.5		0.85	0.65	0.4	0.89	002748
000523	0.83	0.77	0.81	0.85		0.85	0.78	0.92	000523
002149	0.81	0.74	0.84	0.65	0.85		0.76	0.84	002149
601717	0.84	0.87	0.83	0.4	0.78	0.76		0.62	601717
601002	0.71	0.62	0.68	0.89	0.92	0.84	0.62		601002
	600707	300396	301053	002748	000523	002149	601717	601002

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
600707	2.20	0.47	0.16	(1.29)	2.33	(2.46)	5.28	(4.64)	16.48
300396	2.61	0.38	0.09	(2.48)	3.50	(2.84)	5.40	(5.29)	32.32
301053	2.37	0.31	0.09	0.99	3.21	(2.76)	5.76	(4.80)	28.07
002748	1.70	0.41	0.18	1.84	1.65	(1.91)	4.17	(2.81)	8.86
000523	2.19	0.52	0.17	2.56	2.52	(2.59)	5.44	(3.96)	20.19
002149	2.40	0.54	0.20	(0.64)	2.06	(2.80)	6.29	(3.47)	15.58
601717	1.61	0.27	0.11	4.52	2.10	(1.75)	3.15	(2.67)	16.88
601002	2.11	0.69	0.24	(2.41)	2.02	(2.49)	7.19	(3.40)	14.80

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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