Guangxi Guiguan Correlations

600236 Stock

6.37 0.09 1.39%

The current 90-days correlation between Guangxi Guiguan Electric and Longxing Chemical Stock is 0.06 (i.e., Significant diversification). The correlation of Guangxi Guiguan 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.

Guangxi Guiguan Correlation With Market

Good diversification

The correlation between Guangxi Guiguan Electric and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangxi Guiguan Electric and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guangxi Stock

0.67	601857	PetroChina	Pair Corr
0.64	600938	CNOOC Limited	Pair Corr
0.69	600941	China Mobile Limited	Pair Corr
0.83	601328	Bank of Communications	Pair Corr

Moving against Guangxi Stock

0.72	002418	Zhe Jiang Kangsheng	Pair Corr
0.62	300354	DongHua Testing Tech	Pair Corr
0.6	002630	China Western Power	Pair Corr
0.55	600036	China Merchants Bank	Pair Corr
0.42	300530	Hunan Lead Power	Pair Corr

Related Correlations Analysis

	002125	688110	002442	002909	603176	002526	300967	900932
002125		0.77	0.65	0.88	0.87	0.84	0.62	-0.01	002125
688110	0.77		0.74	0.8	0.71	0.75	0.58	-0.24	688110
002442	0.65	0.74		0.76	0.51	0.52	0.79	-0.25	002442
002909	0.88	0.8	0.76		0.87	0.83	0.8	-0.12	002909
603176	0.87	0.71	0.51	0.87		0.88	0.47	0.0	603176
002526	0.84	0.75	0.52	0.83	0.88		0.5	-0.04	002526
300967	0.62	0.58	0.79	0.8	0.47	0.5		-0.07	300967
900932	-0.01	-0.24	-0.25	-0.12	0.0	-0.04	-0.07		900932
	002125	688110	002442	002909	603176	002526	300967	900932

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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

002909	+ 0.88	002125
002526	+ 0.88	603176
603176	+ 0.87	002125
603176	+ 0.87	002909
002526	+ 0.84	002125
002526	+ 0.83	002909

High negative correlations

900932	- 0.25	002442
900932	- 0.24	688110
900932	- 0.12	002909
900932	- 0.07	300967
900932	- 0.04	002526
900932	- 0.01	002125

Risk-Adjusted Indicators

There is a big difference between Guangxi Stock performing well and Guangxi Guiguan 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 Guangxi Guiguan'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
002125	1.39	0.05	0.04	0.23	1.57	(1.44)	3.16	(2.28)	8.80
688110	2.52	0.41	0.14	(4.59)	2.64	(2.77)	5.60	(4.85)	19.69
002442	2.16	0.33	0.11	0.98	2.71	(2.35)	4.24	(3.96)	20.11
002909	1.51	0.17	0.09	(6.86)	2.15	(1.61)	3.83	(3.29)	10.30
603176	1.47	(0.05)	0.00	0.22	0.00	0.00	3.20	(3.79)	9.62
002526	3.03	0.04	0.01	0.04	3.52	(3.36)	7.11	(5.49)	17.26
300967	2.51	0.59	0.23	(1.42)	2.30	(3.09)	4.86	(3.91)	14.94
900932	1.02	(0.19)	0.00	0.55	0.00	0.00	2.13	(2.13)	8.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guangxi Guiguan 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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