Kangping Technology Correlations

300907 Stock

23.66 0.53 2.19%

The current 90-days correlation between Kangping Technology and Biwin Storage Technology is 0.61 (i.e., Poor diversification). The correlation of Kangping 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.

Kangping Technology Correlation With Market

Good diversification

The correlation between Kangping Technology Co and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kangping Technology Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Kangping 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 Kangping 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 Kangping 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 Kangping Technology Co to buy it.

Moving together with Kangping Stock

0.95	002303	Shenzhen MYS Environ	Pair Corr
0.94	300533	Shenzhen Bingchuan	Pair Corr
0.93	000937	Jizhong Energy Resources	Pair Corr
0.82	605377	Hangzhou Huawang New	Pair Corr
0.83	200625	Chongqing Changan	Pair Corr
0.71	000983	Shanxi Xishan Coal	Pair Corr

Moving against Kangping Stock

0.67	605368	Henan Lantian Gas	Pair Corr
0.61	180401	Penghua Shenzhen Energy	Pair Corr
0.54	508028	China Fund Management	Pair Corr

Related Correlations Analysis

	688525	601857	601398	601939	600028	601288	601988	600941	600036	601318
688525		0.05	0.48	0.66	-0.23	0.47	0.4	0.45	0.94	0.96	688525
601857	0.05		0.62	0.49	0.9	0.49	0.58	0.56	0.19	0.03	601857
601398	0.48	0.62		0.96	0.44	0.93	0.94	0.72	0.68	0.51	601398
601939	0.66	0.49	0.96		0.27	0.94	0.9	0.68	0.83	0.69	601939
600028	-0.23	0.9	0.44	0.27		0.37	0.47	0.53	-0.08	-0.22	600028
601288	0.47	0.49	0.93	0.94	0.37		0.94	0.69	0.68	0.54	601288
601988	0.4	0.58	0.94	0.9	0.47	0.94		0.78	0.6	0.45	601988
600941	0.45	0.56	0.72	0.68	0.53	0.69	0.78		0.54	0.47	600941
600036	0.94	0.19	0.68	0.83	-0.08	0.68	0.6	0.54		0.97	600036
601318	0.96	0.03	0.51	0.69	-0.22	0.54	0.45	0.47	0.97		601318
	688525	601857	601398	601939	600028	601288	601988	600941	600036	601318

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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

601318	+ 0.97	600036
601318	+ 0.96	688525
601939	+ 0.96	601398
600036	+ 0.94	688525
601988	+ 0.94	601398
601288	+ 0.94	601939

High negative correlations

600028	- 0.23	688525
601318	- 0.22	600028
600036	- 0.08	600028

Risk-Adjusted Indicators

There is a big difference between Kangping Stock performing well and Kangping 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 Kangping 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
688525	3.54	0.47	0.13	1.24	3.01	(5.19)	8.32	(5.23)	28.33
601857	1.42	(0.11)	0.00	0.77	0.00	0.00	3.43	(3.33)	17.17
601398	1.19	(0.06)	0.00	(0.67)	0.00	0.00	2.83	(3.06)	8.14
601939	1.29	(0.03)	0.00	(0.31)	0.00	0.00	3.32	(3.86)	8.64
600028	1.43	(0.11)	0.00	(1.06)	0.00	0.00	4.21	(3.26)	10.77
601288	1.28	(0.01)	(0.05)	(0.10)	1.97	(1.18)	3.21	(3.89)	8.24
601988	1.18	0.00	(0.06)	0.11	1.46	(1.45)	2.67	(2.86)	7.70
600941	1.03	0.00	(0.07)	0.13	1.17	(1.20)	2.05	(2.04)	8.38
600036	1.52	0.16	0.03	8.28	1.80	(1.79)	4.65	(2.56)	13.83
601318	1.79	0.33	0.12	0.82	1.87	(2.17)	5.83	(2.83)	19.77

Be your own money manager

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