Dook Media Correlations

301025 Stock   9.55  0.20  2.14%   
The current 90-days correlation between Dook Media Group and Vanfund Urban Investment is 0.72 (i.e., Poor diversification). The correlation of Dook Media 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.

Dook Media Correlation With Market

Good diversification

The correlation between Dook Media Group and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dook Media Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Dook Media could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dook Media 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 Dook Media - 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 Dook Media Group to buy it.

Moving together with Dook Stock

  0.81688443 Chongqing Genrix BioPairCorr
  0.66688027 QuantumCTekPairCorr
  0.85688047 Loongson Technology CorpPairCorr
  0.73688318 Shenzhen Fortune TrendPairCorr
  0.91600106 Chongqing Road BridgePairCorr
  0.79300578 BizConf TelecomPairCorr
  0.89601698 China Satellite CommPairCorr
  0.61600386 Beijing Bashi MediaPairCorr
  0.66301365 Matrix DesignPairCorr
  0.63688013 Touchstone InternationalPairCorr

Moving against Dook Stock

  0.55688256 Cambricon TechnologiesPairCorr
  0.54688981 Semiconductor ManufacturingPairCorr
  0.49603306 HMTNew TechnicalPairCorr
  0.54180101 Bosera CMSK IndustrialPairCorr
  0.37301439 Weihai Honglin ElectronicPairCorr
  0.35601169 Bank of Beijing Co LtdPairCorr

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   
000638002605
002021000638
002021002605
000809600707
002021000809
000598000809
  
High negative correlations   
000598000609
000638600707
600707002605
000809000638
000809002605
002021000609

Risk-Adjusted Indicators

There is a big difference between Dook Stock performing well and Dook Media 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 Dook Media'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 Dook Media 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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