Hangzhou Guotai Correlations

Stocks . China . 
Stock . Hangzhou Guotai Environmental
301203 Stock   29.26  0.11  0.37%   
The current 90-days correlation between Hangzhou Guotai Envi and Loctek Ergonomic Technology is 0.7 (i.e., Poor diversification). The correlation of Hangzhou Guotai 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.

Hangzhou Guotai Correlation With Market

Significant diversification

The correlation between Hangzhou Guotai Environmental and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Guotai Environmental and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hangzhou Guotai could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hangzhou Guotai 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 Hangzhou Guotai - 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 Hangzhou Guotai Environmental to buy it.

Moving together with Hangzhou Stock

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  0.78002074 Gotion High techPairCorr
  0.91002152 GRG Banking EquipmentPairCorr
  0.77600498 Fiberhome TelecommunicatioPairCorr
  0.84000661 Changchun High NewPairCorr
  0.87605128 Shanghai Yanpu MetalPairCorr
  0.71603103 Hengdian EntertainmentPairCorr
  0.72600515 Hainan HNA InfrastructurePairCorr
  0.77600584 JCET GroupPairCorr
  0.87600335 Sinomach AutomobilePairCorr
  0.72603068 Beken CorpPairCorr
  0.78603818 Qumei Furniture GroupPairCorr
  0.87300608 SI TECH InformationPairCorr
  0.66000889 ZJBC Information TecPairCorr
  0.67000995 Gansu Huangtai WinePairCorr
  0.79601059 Cinda SecuritiesPairCorr
  0.7603800 Suzhou Douson DrillingPairCorr
  0.87000761 Bengang Steel PlatesPairCorr
  0.69601002 Gem Year IndustrialPairCorr
  0.85000560 5I5j Holding GroupPairCorr
  0.81601598 Sinotrans ClassPairCorr
  0.76301390 Hangzhou Gisway InfoPairCorr
  0.9688119 Sinosteel Luonai MatPairCorr
  0.73600755 Xiamen ITG GroupPairCorr
  0.76002946 New Hope DairyPairCorr
  0.67000909 Soyea TechnologyPairCorr
  0.88300815 Eit EnvironmentalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Hangzhou Stock performing well and Hangzhou Guotai 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 Hangzhou Guotai'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601615  2.75  0.70  0.25  3.01  2.42 
(3.44)
 7.78 
(3.82)
 18.14 
159681  2.97  0.68  0.16  1.64  3.05 
(4.78)
 8.99 
(4.00)
 36.32 
159005  0.01  0.00  0.00  0.95  0.00 
 0.00 
 0.01 
 0.00 
 0.14 
300729  2.28  0.21  0.05  0.54  3.15 
(2.44)
 6.27 
(4.21)
 24.80 
002952  3.12  0.51  0.11  1.03  3.95 
(3.10)
 9.02 
(6.36)
 19.99 
516220  1.73  0.28  0.09  146.52  1.75 
(2.77)
 5.26 
(3.03)
 17.74 
002096  2.22  0.16  0.04 (0.35) 2.47 
(2.44)
 4.30 
(4.45)
 13.27 
002999  2.61  0.30  0.08  0.41  3.21 
(2.87)
 6.20 
(5.34)
 17.06 
300243  3.23  0.53  0.11 (2.16) 4.03 
(3.55)
 10.41 
(5.67)
 31.77 
603269  2.81  0.49  0.14 (2.99) 2.89 
(3.21)
 5.98 
(5.73)
 16.65 

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