Xiamen Faratronic Correlations

600563 Stock

121.95 6.88 5.98%

The current 90-days correlation between Xiamen Faratronic and Anhui Huaren Health is 0.19 (i.e., Average diversification). The correlation of Xiamen Faratronic 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.

Xiamen Faratronic Correlation With Market

Average diversification

The correlation between Xiamen Faratronic Co and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xiamen Faratronic Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Xiamen Stock

0.61	601857	PetroChina	Pair Corr
0.51	600036	China Merchants Bank	Pair Corr
0.49	601288	Agricultural Bank	Pair Corr
0.48	601939	China Construction Bank	Pair Corr
0.45	601398	Industrial and Commercial	Pair Corr
0.45	601988	Bank of China	Pair Corr
0.41	600941	China Mobile Limited	Pair Corr

Related Correlations Analysis

	301408	603313	605266	300247	603579	001323	002899	000788
301408		0.59	0.81	0.8	0.5	0.18	-0.12	0.4	301408
603313	0.59		0.75	0.67	0.92	0.44	0.43	0.64	603313
605266	0.81	0.75		0.7	0.67	0.35	0.24	0.54	605266
300247	0.8	0.67	0.7		0.62	0.51	0.09	0.51	300247
603579	0.5	0.92	0.67	0.62		0.45	0.53	0.68	603579
001323	0.18	0.44	0.35	0.51	0.45		0.29	0.36	001323
002899	-0.12	0.43	0.24	0.09	0.53	0.29		0.25	002899
000788	0.4	0.64	0.54	0.51	0.68	0.36	0.25		000788
	301408	603313	605266	300247	603579	001323	002899	000788

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

603579	+ 0.92	603313
605266	+ 0.81	301408
300247	+ 0.8	301408
605266	+ 0.75	603313
300247	+ 0.7	605266
000788	+ 0.68	603579

High negative correlations

002899

- 0.12

301408

Risk-Adjusted Indicators

There is a big difference between Xiamen Stock performing well and Xiamen Faratronic 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 Xiamen Faratronic'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
301408	2.08	(0.02)	0.00	(0.05)	0.00	0.00	3.79	(4.25)	14.04
603313	2.18	0.12	0.04	0.75	2.55	(2.25)	4.02	(4.08)	15.62
605266	2.70	0.13	0.03	(0.43)	3.02	(2.83)	6.95	(4.85)	16.38
300247	2.96	0.24	0.06	2.89	3.82	(3.04)	6.85	(6.87)	24.48
603579	1.64	0.11	0.04	0.52	2.21	(1.58)	3.17	(3.90)	11.97
001323	1.71	0.25	0.10	(1.57)	1.81	(1.79)	4.34	(3.57)	11.31
002899	3.60	0.45	0.10	(2.94)	3.91	(4.14)	9.99	(7.01)	20.03
000788	2.45	0.04	0.01	0.10	3.62	(2.18)	4.71	(5.31)	19.12

Be your own money manager

Our tools can tell you how much better you can do entering a position in Xiamen Faratronic 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.

Did you try this?

Run Investing Opportunities Now

Investing Opportunities

Build portfolios using our predefined set of ideas and optimize them against your investing preferences

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC