GANGLONG CHINA Correlations
| 52J Stock | EUR 0.01 0.0005 5.88% |
The current 90-days correlation between GANGLONG CHINA PRGRLTD and DEUTSCHE WOHNEN ADRS12 is 0.25 (i.e., Modest diversification). The correlation of GANGLONG CHINA 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.
GANGLONG CHINA Correlation With Market
Significant diversification
The correlation between GANGLONG CHINA PRGRLTD and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GANGLONG CHINA PRGRLTD and DJI in the same portfolio, assuming nothing else is changed.
GANGLONG |
The ability to find closely correlated positions to GANGLONG CHINA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GANGLONG CHINA 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 GANGLONG CHINA - 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 GANGLONG CHINA PRGRLTD to buy it.
Moving together with GANGLONG Stock
| 0.74 | CHZ | China Resources Land | PairCorr |
| 0.76 | 6FLA | SEAZEN GROUP LTD | PairCorr |
| 0.66 | RDH | RADIANCE HLDGS GRPHD | PairCorr |
| 0.74 | 6CI | CIFI Holdings | PairCorr |
| 0.7 | 0RJ | REDSUN PROPERTIES | PairCorr |
Moving against GANGLONG Stock
| 0.46 | 7PI | Poste Italiane SpA | PairCorr |
| 0.44 | NSE | Nomura Holdings | PairCorr |
| 0.31 | 7RY | Ryerson Holding | PairCorr |
| 0.55 | MKL | Atea ASA | PairCorr |
| 0.48 | 3O8 | Omeros | PairCorr |
| 0.47 | BKJ | Brinker International | PairCorr |
| 0.47 | APC | Apple Inc | PairCorr |
| 0.45 | GM0N | GLOBUS MEDICAL A | PairCorr |
| 0.44 | TL0 | Tesla Inc | PairCorr |
| 0.43 | DGS | Envela Corp | PairCorr |
| 0.42 | GTX | Gentex | PairCorr |
| 0.41 | HU3 | Huntington Bancshares | PairCorr |
| 0.39 | NU42 | Ribbon Communications | PairCorr |
| 0.38 | EMR | EMERSON ELECTRIC | PairCorr |
| 0.36 | 1DH | Clarkson PLC | PairCorr |
| 0.35 | TC7 | TIANDE CHEMICAL | PairCorr |
| 0.55 | 8CF | CLOUDFLARE INC A | PairCorr |
| 0.5 | MNL | Gruppo Mutuionline SpA | PairCorr |
| 0.46 | BLQA | BlackRock | PairCorr |
| 0.44 | G8L | GREENLIGHT CAP RE | PairCorr |
Related Correlations Analysis
| -0.01 | 0.29 | 0.95 | 0.53 | 0.74 | CHZ | ||
| -0.01 | 0.63 | 0.01 | 0.49 | 0.16 | DWNP | ||
| 0.29 | 0.63 | 0.22 | 0.77 | 0.31 | 3YZ | ||
| 0.95 | 0.01 | 0.22 | 0.5 | 0.76 | 6FLA | ||
| 0.53 | 0.49 | 0.77 | 0.5 | 0.6 | A1A | ||
| 0.74 | 0.16 | 0.31 | 0.76 | 0.6 | 52J | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between GANGLONG Stock performing well and GANGLONG CHINA 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 GANGLONG CHINA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CHZ | 2.58 | 0.24 | 0.08 | 1.04 | 2.58 | 6.76 | 24.86 | |||
| DWNP | 1.70 | (0.26) | 0.00 | (0.48) | 0.00 | 3.25 | 12.17 | |||
| 3YZ | 0.89 | (0.13) | 0.00 | 0.67 | 0.00 | 1.85 | 7.01 | |||
| 6FLA | 4.07 | 0.47 | 0.07 | 1.28 | 4.42 | 10.53 | 41.28 | |||
| A1A | 1.31 | (0.21) | 0.00 | 0.73 | 0.00 | 3.19 | 12.02 | |||
| 52J | 17.81 | 4.60 | 0.21 | 1.29 | 16.54 | 103.13 | 202.05 |
Be your own money manager
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