Shenzhen SDG Correlations

300917 Stock

51.52 7.91 13.31%

The current 90-days correlation between Shenzhen SDG Service and PetroChina Co Ltd is -0.01 (i.e., Good diversification). The correlation of Shenzhen SDG 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.

Shenzhen SDG Correlation With Market

Good diversification

The correlation between Shenzhen SDG Service and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen SDG Service and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shenzhen Stock

0.65	300750	Contemporary Amperex	Pair Corr
0.84	600340	China Fortune Land	Pair Corr
0.78	600498	Fiberhome Telecommunicatio	Pair Corr
0.73	603969	Tianjin Silvery Dragon	Pair Corr
0.84	600455	ButOne Information Corp	Pair Corr
0.71	002400	Guangdong Advertising	Pair Corr
0.87	002217	Holitech Technology	Pair Corr
0.75	002466	Sichuan Tianqi Lithium	Pair Corr
0.73	600633	Zhejiang Daily Media	Pair Corr
0.92	000506	Zhongrun Resources	Pair Corr
0.71	688507	Shanghai Suochen Inf	Pair Corr
0.65	002074	Gotion High tech	Pair Corr
0.68	002575	Guangdong Qunxing Toys	Pair Corr
0.7	603365	Shanghai Shuixing Home	Pair Corr
0.83	300825	Iat Automobile Technology	Pair Corr
0.71	688325	Guangdong Cellwise	Pair Corr
0.72	002303	Shenzhen MYS Environ	Pair Corr
0.69	600335	Sinomach Automobile	Pair Corr
0.78	603818	Qumei Furniture Group	Pair Corr
0.73	002946	New Hope Dairy	Pair Corr
0.67	300880	Ningbo Jianan Electronics	Pair Corr
0.71	301379	Techshine Electronics	Pair Corr
0.77	002382	Blue Sail Medical	Pair Corr
0.75	300815	Eit Environmental	Pair Corr
0.8	600719	Dalian Thermal Power	Pair Corr
0.83	000909	Soyea Technology	Pair Corr

Related Correlations Analysis

	601857	600941	600938	601318	600028	601728	601668	600519	601088	601628
601857		0.66	0.94	0.57	0.83	0.51	0.57	0.66	0.82	0.49	601857
600941	0.66		0.6	0.33	0.52	0.78	0.41	0.45	0.78	0.3	600941
600938	0.94	0.6		0.55	0.83	0.39	0.54	0.55	0.72	0.42	600938
601318	0.57	0.33	0.55		0.2	0.59	0.96	0.89	0.51	0.96	601318
600028	0.83	0.52	0.83	0.2		0.17	0.22	0.33	0.63	0.12	600028
601728	0.51	0.78	0.39	0.59	0.17		0.68	0.63	0.72	0.63	601728
601668	0.57	0.41	0.54	0.96	0.22	0.68		0.86	0.59	0.92	601668
600519	0.66	0.45	0.55	0.89	0.33	0.63	0.86		0.58	0.87	600519
601088	0.82	0.78	0.72	0.51	0.63	0.72	0.59	0.58		0.46	601088
601628	0.49	0.3	0.42	0.96	0.12	0.63	0.92	0.87	0.46		601628
	601857	600941	600938	601318	600028	601728	601668	600519	601088	601628

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Risk-Adjusted Indicators

There is a big difference between Shenzhen Stock performing well and Shenzhen SDG 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 Shenzhen SDG'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
601857	1.28	0.12	0.05	(4.50)	1.83	(1.59)	3.55	(2.03)	17.17
600941	1.05	0.17	0.14	(8.04)	0.96	(1.37)	3.09	(2.04)	8.38
600938	1.38	0.17	0.07	(1.78)	1.90	(1.47)	3.25	(2.13)	16.49
601318	1.80	0.35	0.14	1.10	1.95	(2.18)	5.83	(2.88)	19.77
600028	1.14	0.06	0.02	0.47	1.58	(1.25)	3.23	(1.89)	10.77
601728	1.48	0.24	0.11	0.85	1.69	(1.69)	3.49	(2.81)	11.12
601668	1.87	0.33	0.12	1.08	2.16	(2.09)	5.25	(3.67)	15.78
600519	1.71	0.17	0.07	0.61	1.81	(2.11)	6.55	(2.98)	16.71
601088	1.53	0.19	0.10	3.97	1.57	(1.72)	4.28	(2.66)	10.24
601628	2.13	0.35	0.11	0.90	2.54	(2.30)	6.42	(3.94)	20.00

Be your own money manager

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