Aurora Optoelectronics Correlations

600666 Stock

2.71 0.03 1.12%

The current 90-days correlation between Aurora Optoelectronics and Chengdu Kanghua Biological is 0.47 (i.e., Very weak diversification). The correlation of Aurora Optoelectronics 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.

Aurora Optoelectronics Correlation With Market

Good diversification

The correlation between Aurora Optoelectronics Co and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aurora Optoelectronics Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Aurora Stock

0.92	603180	Xiamen Goldenhome	Pair Corr
0.87	301370	GKHT Medical Technology	Pair Corr
0.96	300074	AVCON Information Tech	Pair Corr
0.95	002205	XinJiang GuoTong Pipeline	Pair Corr
0.9	300252	Kingsignal Technology	Pair Corr
0.66	688019	Anji Microelectronics	Pair Corr
0.8	603236	Quectel Wireless Sol	Pair Corr
0.89	000042	Shenzhen Centralcon	Pair Corr
0.95	600996	Guizhou BroadcastingTV	Pair Corr
0.67	002244	Hangzhou Binjiang Real	Pair Corr
0.84	605499	Eastroc Beverage Split	Pair Corr
0.92	688010	Fujian Forecam Optics	Pair Corr
0.66	002594	BYD Co	Pair Corr
0.83	603986	GigaDevice SemiconductorBei	Pair Corr
0.88	600429	Beijing Sanyuan Foods	Pair Corr
0.92	002995	Beijing Quanshi World	Pair Corr
0.89	000572	Haima Automobile	Pair Corr
0.83	601111	Air China	Pair Corr
0.81	000617	CNPC Capital	Pair Corr
0.89	605577	Heilongjiang Publishing	Pair Corr
0.92	002605	Shanghai Yaoji Playing	Pair Corr
0.91	002941	Xinjiang Communications	Pair Corr
0.94	600512	Tengda Construction	Pair Corr
0.96	000839	CITIC Guoan Information	Pair Corr
0.8	688298	Zhejiang Orient Gene	Pair Corr
0.68	000598	Chengdu Xingrong Inv	Pair Corr
0.95	600030	CITIC Securities	Pair Corr
0.85	600459	Sino Platinum Metals	Pair Corr
0.95	002371	NAURA Technology	Pair Corr
0.95	002792	Tongyu Communication	Pair Corr
0.67	000100	TCL Corp	Pair Corr
0.95	900903	Dazhong Transportation	Pair Corr
0.9	600711	Chengtun Mining Group	Pair Corr
0.82	600399	Fushun Special Steel	Pair Corr
0.82	603008	Xilinmen Furniture	Pair Corr

Related Correlations Analysis

	300841	603392	688137	601600	300364	001299	000995	600223	605168
300841		0.82	0.89	0.9	0.81	0.73	0.71	0.91	0.74	300841
603392	0.82		0.75	0.68	0.6	0.58	0.64	0.86	0.62	603392
688137	0.89	0.75		0.82	0.91	0.91	0.91	0.93	0.93	688137
601600	0.9	0.68	0.82		0.8	0.67	0.69	0.86	0.68	601600
300364	0.81	0.6	0.91	0.8		0.91	0.88	0.81	0.89	300364
001299	0.73	0.58	0.91	0.67	0.91		0.89	0.8	0.93	001299
000995	0.71	0.64	0.91	0.69	0.88	0.89		0.85	0.94	000995
600223	0.91	0.86	0.93	0.86	0.81	0.8	0.85		0.86	600223
605168	0.74	0.62	0.93	0.68	0.89	0.93	0.94	0.86		605168
	300841	603392	688137	601600	300364	001299	000995	600223	605168

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Risk-Adjusted Indicators

There is a big difference between Aurora Stock performing well and Aurora Optoelectronics 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 Aurora Optoelectronics' 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
300841	2.68	0.33	0.06	(6.87)	3.32	(3.07)	4.85	(5.63)	32.68
603392	1.78	0.12	0.01	1.15	1.96	(2.16)	3.89	(2.16)	16.51
688137	1.88	0.40	0.10	5.03	2.76	(1.99)	5.14	(3.13)	22.24
601600	2.11	0.21	0.03	(21.41)	2.84	(2.26)	6.09	(3.93)	17.74
300364	4.15	1.04	0.18	(1.98)	4.43	(5.11)	9.53	(7.32)	34.75
001299	1.94	0.41	0.13	21.46	2.03	(2.23)	4.33	(3.08)	15.29
000995	3.60	0.97	0.21	2.74	3.59	(3.96)	10.00	(6.26)	20.01
600223	1.85	0.26	0.06	2.50	2.56	(1.88)	4.58	(3.17)	16.41
605168	3.03	0.63	0.15	1.65	3.23	(3.41)	9.43	(5.78)	19.99

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Our tools can tell you how much better you can do entering a position in Aurora Optoelectronics 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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Aurora Optoelectronics Corporate Executives

Elected by the shareholders, the Aurora Optoelectronics' board of directors comprises two types of representatives: Aurora Optoelectronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Aurora. The board's role is to monitor Aurora Optoelectronics' management team and ensure that shareholders' interests are well served. Aurora Optoelectronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Aurora Optoelectronics' outside directors are responsible for providing unbiased perspectives on the board's policies.

Sangao Zhu

CFO supervisor

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