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

0.88	300841	Chengdu Kanghua Biol	Pair Corr
0.9	603392	Beijing Wantai Biological	Pair Corr
0.78	300364	COL Digital Publishing	Pair Corr
0.73	688137	Suzhou Novoprotein	Pair Corr

Moving against Imeik Stock

0.43	603583	Zhejiang Jiecang Linear	Pair Corr
0.32	688219	Orinko Advanced Plastics	Pair Corr

Related Correlations Analysis

	002526	300987	601899	601717	603132	600633	000793	601121
002526		0.64	0.18	0.28	0.46	0.35	0.7	-0.02	002526
300987	0.64		0.01	0.15	0.71	0.46	0.76	0.07	300987
601899	0.18	0.01		0.1	-0.22	0.51	-0.27	-0.58	601899
601717	0.28	0.15	0.1		0.18	0.18	0.18	-0.25	601717
603132	0.46	0.71	-0.22	0.18		-0.09	0.61	0.41	603132
600633	0.35	0.46	0.51	0.18	-0.09		0.23	-0.5	600633
000793	0.7	0.76	-0.27	0.18	0.61	0.23		0.32	000793
601121	-0.02	0.07	-0.58	-0.25	0.41	-0.5	0.32		601121
	002526	300987	601899	601717	603132	600633	000793	601121

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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

000793	+ 0.76	300987
603132	+ 0.71	300987
000793	+ 0.7	002526
300987	+ 0.64	002526
000793	+ 0.61	603132
600633	+ 0.51	601899

High negative correlations

601121	- 0.58	601899
601121	- 0.5	600633
000793	- 0.27	601899
601121	- 0.25	601717
603132	- 0.22	601899
600633	- 0.09	603132

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
002526	4.41	0.87	0.19	0.85	4.21	(5.16)	10.09	(9.46)	20.14
300987	2.21	(0.01)	0.03	(0.06)	3.26	(2.24)	4.79	(6.16)	17.30
601899	1.30	0.09	0.08	0.33	1.85	(1.18)	2.47	(2.70)	7.27
601717	1.24	0.28	0.26	1.37	1.06	(1.42)	2.33	(2.05)	11.02
603132	0.93	0.01	0.06	0.16	1.34	(0.84)	2.02	(2.12)	4.63
600633	3.21	0.58	0.16	(3.45)	3.64	(3.43)	10.03	(5.98)	20.06
000793	3.71	0.25	0.07	(1.30)	4.34	(3.99)	9.90	(6.08)	20.05
601121	1.32	(0.12)	0.00	0.13	0.00	0.00	2.54	(2.65)	13.12

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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