Hangzhou Minsheng Correlations

301507 Stock

13.31 0.09 0.67%

The current 90-days correlation between Hangzhou Minsheng and Boai NKY Pharmaceuticals is 0.48 (i.e., Very weak diversification). The correlation of Hangzhou Minsheng 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 Minsheng Correlation With Market

Good diversification

The correlation between Hangzhou Minsheng Healthcare 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 Hangzhou Minsheng Healthcare and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hangzhou Minsheng 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 Minsheng 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 Minsheng - 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 Minsheng Healthcare to buy it.

Moving together with Hangzhou Stock

0.86	300109	Boai NKY Pharmaceuticals	Pair Corr
0.78	000980	Zotye Automobile	Pair Corr
0.82	002194	Wuhan Fingu Electronic	Pair Corr
0.72	688327	Cloudwalk Technology	Pair Corr
0.78	002025	Guizhou Space Appliance	Pair Corr
0.73	300530	Hunan Lead Power	Pair Corr
0.83	002616	Guangdong Chant Group	Pair Corr
0.73	301226	Changzhou Xiangming	Pair Corr
0.74	600361	Beijing Hualian Hype	Pair Corr
0.68	688466	GreenTech Environmental	Pair Corr
0.79	002501	Jilin Liyuan Precision	Pair Corr
0.69	300895	Beijing Topnew Info	Pair Corr
0.72	603716	Wuhan Thalys Med	Pair Corr
0.67	300163	Ningbo Xianfeng New	Pair Corr
0.72	000701	Xiamen Xindeco	Pair Corr
0.65	600301	Nanning Chemical Industry	Pair Corr
0.8	300780	Sichuan Dawn Precision	Pair Corr
0.69	300842	Wuxi Dk Electronic	Pair Corr

Moving against Hangzhou Stock

0.57	603959	Hunan Baili Engineering	Pair Corr
0.35	688668	Dongguan Dingtong	Pair Corr

Related Correlations Analysis

	300109	688466	300940	605118	300674	002025	300163	600301	300842	300840
300109		0.58	0.61	0.45	0.36	0.79	0.67	0.67	0.66	0.2	300109
688466	0.58		0.86	0.76	0.91	0.61	0.88	0.75	0.87	0.59	688466
300940	0.61	0.86		0.76	0.7	0.62	0.94	0.81	0.86	0.62	300940
605118	0.45	0.76	0.76		0.59	0.64	0.82	0.82	0.75	0.61	605118
300674	0.36	0.91	0.7	0.59		0.36	0.67	0.51	0.72	0.58	300674
002025	0.79	0.61	0.62	0.64	0.36		0.72	0.84	0.71	0.32	002025
300163	0.67	0.88	0.94	0.82	0.67	0.72		0.87	0.88	0.59	300163
600301	0.67	0.75	0.81	0.82	0.51	0.84	0.87		0.8	0.56	600301
300842	0.66	0.87	0.86	0.75	0.72	0.71	0.88	0.8		0.45	300842
300840	0.2	0.59	0.62	0.61	0.58	0.32	0.59	0.56	0.45		300840
	300109	688466	300940	605118	300674	002025	300163	600301	300842	300840

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Risk-Adjusted Indicators

There is a big difference between Hangzhou Stock performing well and Hangzhou Minsheng 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 Minsheng'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
300109	2.31	0.14	0.07	0.70	2.66	(2.52)	7.06	(4.52)	13.42
688466	2.04	0.23	0.11	1.09	2.23	(2.46)	4.67	(4.01)	20.66
300940	1.81	0.37	0.18	3.14	2.07	(2.02)	4.31	(2.96)	10.46
605118	3.02	0.39	0.11	1.23	3.84	(3.40)	10.01	(5.95)	20.05
300674	2.87	0.24	0.10	(0.68)	2.87	(3.41)	8.86	(5.07)	20.86
002025	2.16	0.01	0.04	(0.07)	2.59	(2.61)	4.73	(3.94)	14.73
300163	2.29	0.25	0.09	(13.50)	3.19	(2.36)	4.37	(4.40)	14.32
600301	1.93	0.41	0.20	1.06	2.00	(2.38)	5.03	(3.62)	17.31
300842	2.09	0.13	0.08	55.72	2.24	(2.43)	5.83	(3.02)	18.01
300840	4.00	0.19	0.05	(0.61)	4.70	(4.33)	10.94	(8.92)	28.92

Be your own money manager

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