Beijing Bashi Correlations

600386 Stock

4.74 0.06 1.25%

The current 90-days correlation between Beijing Bashi Media and INKON Life Technology is 0.48 (i.e., Very weak diversification). The correlation of Beijing Bashi 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.

Beijing Bashi Correlation With Market

Good diversification

The correlation between Beijing Bashi Media and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Bashi Media and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Beijing Stock

0.85	002194	Wuhan Fingu Electronic	Pair Corr
0.67	600361	Beijing Hualian Hype	Pair Corr
0.74	300163	Ningbo Xianfeng New	Pair Corr
0.72	002616	Guangdong Chant Group	Pair Corr
0.8	300940	Shen Zhen Australis	Pair Corr
0.84	603716	Wuhan Thalys Med	Pair Corr
0.72	300842	Wuxi Dk Electronic	Pair Corr
0.72	300354	DongHua Testing Tech	Pair Corr
0.75	300780	Sichuan Dawn Precision	Pair Corr
0.71	002501	Jilin Liyuan Precision	Pair Corr
0.65	688298	Zhejiang Orient Gene	Pair Corr
0.62	300007	Henan Hanwei Electronics	Pair Corr
0.75	300530	Hunan Lead Power	Pair Corr
0.75	688327	Cloudwalk Technology	Pair Corr
0.64	301226	Changzhou Xiangming	Pair Corr
0.63	002630	China Western Power	Pair Corr
0.72	300895	Beijing Topnew Info	Pair Corr
0.82	688466	GreenTech Environmental	Pair Corr
0.73	600036	China Merchants Bank	Pair Corr
0.66	605118	Xiamen Leading Optics	Pair Corr
0.85	300674	Yusys Technologies	Pair Corr
0.81	001228	Yongtaiyun Chemical	Pair Corr

Moving against Beijing Stock

0.62

603959

Hunan Baili Engineering

Pair Corr

Related Correlations Analysis

	300143	603501	300475	688619	688249	300252	300828
300143		0.91	0.72	0.83	0.19	0.68	0.72	300143
603501	0.91		0.7	0.88	0.28	0.67	0.72	603501
300475	0.72	0.7		0.61	-0.02	0.71	0.8	300475
688619	0.83	0.88	0.61		0.52	0.73	0.74	688619
688249	0.19	0.28	-0.02	0.52		0.26	0.14	688249
300252	0.68	0.67	0.71	0.73	0.26		0.9	300252
300828	0.72	0.72	0.8	0.74	0.14	0.9		300828
	300143	603501	300475	688619	688249	300252	300828

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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

603501	+ 0.91	300143
300828	+ 0.9	300252
688619	+ 0.88	603501
688619	+ 0.83	300143
300828	+ 0.8	300475
300828	+ 0.74	688619

High negative correlations

688249

- 0.02

300475

Risk-Adjusted Indicators

There is a big difference between Beijing Stock performing well and Beijing Bashi 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 Beijing Bashi'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
300143	1.88	0.08	0.04	(0.09)	2.07	(2.23)	4.13	(3.74)	12.98
603501	2.10	0.51	0.23	2.37	1.79	(2.45)	5.43	(3.67)	15.05
300475	2.90	0.52	0.18	9.12	2.60	(3.70)	9.82	(4.68)	19.13
688619	2.45	0.11	0.04	(0.31)	2.69	(2.96)	5.26	(5.22)	12.85
688249	1.64	(0.17)	0.00	(2.94)	0.00	0.00	4.62	(3.87)	9.46
300252	3.46	0.39	0.08	4.15	4.32	(3.86)	7.15	(8.90)	31.54
300828	2.04	0.17	0.06	(43.94)	2.49	(2.46)	5.44	(4.85)	13.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Beijing Bashi 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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