Inner Mongolia Correlations

600010 Stock

1.93 0.03 1.53%

The current 90-days correlation between Inner Mongolia BaoTou and Semiconductor Manufacturing Electronics is 0.53 (i.e., Very weak diversification). The correlation of Inner Mongolia 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.

Inner Mongolia Correlation With Market

Modest diversification

The correlation between Inner Mongolia BaoTou and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inner Mongolia BaoTou and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Inner Stock

0.81	600019	Baoshan Iron Steel	Pair Corr
0.88	002493	Rongsheng Petrochemical	Pair Corr
0.92	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.84	603260	Hoshine Silicon Ind	Pair Corr
0.88	600160	Zhejiang Juhua	Pair Corr
0.82	000807	Yunnan Aluminium	Pair Corr
0.75	600036	China Merchants Bank	Pair Corr
0.8	600229	Qingdao Citymedia	Pair Corr
0.82	688298	Zhejiang Orient Gene	Pair Corr
0.9	000625	Chongqing Changan	Pair Corr
0.85	300339	Jiangsu Hoperun Software	Pair Corr
0.75	000001	Ping An Bank	Pair Corr

Moving against Inner Stock

0.39

600547

Shandong Gold Mining

Pair Corr

Related Correlations Analysis

	688403	605299	688469	603357	600853	600707	603860	002249
688403		0.9	0.95	0.96	0.92	0.91	0.9	0.92	688403
605299	0.9		0.92	0.95	0.9	0.88	0.82	0.88	605299
688469	0.95	0.92		0.96	0.94	0.87	0.88	0.89	688469
603357	0.96	0.95	0.96		0.96	0.9	0.91	0.93	603357
600853	0.92	0.9	0.94	0.96		0.87	0.94	0.95	600853
600707	0.91	0.88	0.87	0.9	0.87		0.85	0.87	600707
603860	0.9	0.82	0.88	0.91	0.94	0.85		0.93	603860
002249	0.92	0.88	0.89	0.93	0.95	0.87	0.93		002249
	688403	605299	688469	603357	600853	600707	603860	002249

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Risk-Adjusted Indicators

There is a big difference between Inner Stock performing well and Inner Mongolia 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 Inner Mongolia'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
688403	2.65	0.55	0.13	(1.28)	2.61	(3.30)	6.34	(3.84)	29.56
605299	1.78	0.31	0.06	(0.62)	2.15	(1.99)	3.48	(2.57)	17.57
688469	2.52	0.66	0.16	(14.86)	2.58	(3.15)	6.56	(3.80)	28.40
603357	1.90	0.24	0.05	1.55	2.37	(1.91)	4.07	(3.41)	16.77
600853	1.69	0.38	0.09	(1.41)	2.00	(2.04)	4.00	(2.87)	17.02
600707	2.20	0.15	(0.01)	(0.17)	2.58	(2.45)	5.28	(4.64)	16.48
603860	2.43	0.36	0.06	(0.82)	2.84	(2.66)	7.37	(4.23)	17.46
002249	1.51	0.38	0.09	(0.46)	1.77	(1.82)	2.86	(2.43)	16.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in Inner Mongolia 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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