Guodian Nanjing Correlations
| 600268 Stock | 7.40 0.25 3.27% |
The current 90-days correlation between Guodian Nanjing Auto and Jiangsu Xinri E Vehicle is 0.22 (i.e., Modest diversification). The correlation of Guodian Nanjing 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.
Guodian Nanjing Correlation With Market
Good diversification
The correlation between Guodian Nanjing Automation and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guodian Nanjing Automation and DJI in the same portfolio, assuming nothing else is changed.
Guodian |
The ability to find closely correlated positions to Guodian Nanjing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guodian Nanjing 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 Guodian Nanjing - 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 Guodian Nanjing Automation to buy it.
Moving together with Guodian Stock
| 0.67 | 002647 | Rendong Holdings Split | PairCorr |
| 0.74 | 002853 | Guangdong Piano Cust | PairCorr |
| 0.87 | 300780 | Sichuan Dawn Precision | PairCorr |
| 0.72 | 605118 | Xiamen Leading Optics | PairCorr |
| 0.61 | 600361 | Beijing Hualian Hype | PairCorr |
| 0.65 | 300530 | Hunan Lead Power | PairCorr |
| 0.63 | 300840 | Qingdao Kutesmart Co | PairCorr |
| 0.79 | 002501 | Jilin Liyuan Precision | PairCorr |
| 0.74 | 300674 | Yusys Technologies | PairCorr |
| 0.82 | 002616 | Guangdong Chant Group | PairCorr |
| 0.85 | 300354 | DongHua Testing Tech | PairCorr |
| 0.83 | 300940 | Shen Zhen Australis | PairCorr |
| 0.66 | 688298 | Zhejiang Orient Gene | PairCorr |
| 0.8 | 002630 | China Western Power | PairCorr |
Moving against Guodian Stock
Related Correlations Analysis
| 0.27 | 0.75 | 0.71 | 0.68 | 0.13 | 603787 | ||
| 0.27 | 0.24 | -0.17 | 0.34 | 0.44 | 301039 | ||
| 0.75 | 0.24 | 0.55 | 0.87 | 0.59 | 688261 | ||
| 0.71 | -0.17 | 0.55 | 0.45 | -0.13 | 300998 | ||
| 0.68 | 0.34 | 0.87 | 0.45 | 0.65 | 688484 | ||
| 0.13 | 0.44 | 0.59 | -0.13 | 0.65 | 688249 | ||
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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 Guodian Stock performing well and Guodian Nanjing 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 Guodian Nanjing'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 603787 | 1.46 | (0.06) | 0.00 | 0.13 | 0.00 | 2.94 | 7.57 | |||
| 301039 | 0.93 | (0.10) | 0.00 | 1.62 | 0.00 | 2.01 | 5.47 | |||
| 688261 | 2.23 | (0.06) | 0.00 | 0.31 | 0.00 | 4.48 | 13.29 | |||
| 300998 | 1.84 | 0.16 | 0.08 | (0.93) | 2.17 | 3.90 | 11.41 | |||
| 688484 | 1.83 | (0.08) | 0.00 | 27.91 | 0.00 | 4.18 | 10.70 | |||
| 688249 | 1.65 | (0.14) | 0.00 | (2.29) | 0.00 | 4.26 | 9.46 |
Be your own money manager
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Guodian Nanjing Corporate Management
Elected by the shareholders, the Guodian Nanjing's board of directors comprises two types of representatives: Guodian Nanjing inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Guodian. The board's role is to monitor Guodian Nanjing's management team and ensure that shareholders' interests are well served. Guodian Nanjing's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Guodian Nanjing's outside directors are responsible for providing unbiased perspectives on the board's policies.