Jiangsu Broadcasting Correlations

600959 Stock

3.58 0.02 0.56%

The current 90-days correlation between Jiangsu Broadcasting and Xinjiang Communications Construction is 0.62 (i.e., Poor diversification). The correlation of Jiangsu Broadcasting 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.

Jiangsu Broadcasting Correlation With Market

Good diversification

The correlation between Jiangsu Broadcasting Cable 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 Jiangsu Broadcasting Cable and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jiangsu Stock

0.79	601668	China State Construction	Pair Corr
0.86	600048	Poly Real Estate	Pair Corr
0.83	000002	China Vanke	Pair Corr
0.9	001979	China Merchants Shekou	Pair Corr
0.86	600325	Huafa Industrial	Pair Corr
0.87	601995	China International	Pair Corr
0.78	600519	Kweichow Moutai	Pair Corr
0.88	600153	Xiamen CD	Pair Corr
0.94	300750	Contemporary Amperex	Pair Corr
0.91	600340	China Fortune Land	Pair Corr
0.98	300074	AVCON Information Tech	Pair Corr
0.86	301236	iSoftStone Information	Pair Corr
0.61	000598	Chengdu Xingrong Inv	Pair Corr
0.92	002792	Tongyu Communication	Pair Corr
0.93	300261	Aba Chemicals Corp	Pair Corr
0.97	600996	Guizhou BroadcastingTV	Pair Corr
0.89	603008	Xilinmen Furniture	Pair Corr
0.88	605577	Heilongjiang Publishing	Pair Corr
0.97	600030	CITIC Securities	Pair Corr
0.94	300252	Kingsignal Technology	Pair Corr
0.69	601998	China Citic Bank	Pair Corr
0.67	688036	Shenzhen Transsion	Pair Corr
0.95	002371	NAURA Technology	Pair Corr
0.88	605499	Eastroc Beverage Split	Pair Corr
0.95	000555	Digital China Information	Pair Corr
0.79	002822	Shenzhen Zhongzhuang	Pair Corr
0.96	600429	Beijing Sanyuan Foods	Pair Corr
0.98	603180	Xiamen Goldenhome	Pair Corr
0.87	688298	Zhejiang Orient Gene	Pair Corr
0.93	002941	Xinjiang Communications	Pair Corr
0.92	002995	Beijing Quanshi World	Pair Corr
0.87	600399	Fushun Special Steel	Pair Corr
0.89	000572	Haima Automobile	Pair Corr
0.94	002269	Shanghai Metersbonwe	Pair Corr
0.94	900903	Dazhong Transportation	Pair Corr
0.98	601615	Ming Yang Smart	Pair Corr
0.93	600711	Chengtun Mining Group	Pair Corr
0.96	002205	XinJiang GuoTong Pipeline	Pair Corr
0.96	688019	Anji Microelectronics	Pair Corr
0.95	000839	CITIC Guoan Information	Pair Corr

Related Correlations Analysis

	002941	600498	603559	600082	603357	002591	001300	002318
002941		0.89	0.8	0.85	0.95	0.89	0.85	0.87	002941
600498	0.89		0.83	0.91	0.95	0.93	0.85	0.87	600498
603559	0.8	0.83		0.84	0.77	0.79	0.71	0.65	603559
600082	0.85	0.91	0.84		0.9	0.96	0.91	0.84	600082
603357	0.95	0.95	0.77	0.9		0.95	0.91	0.94	603357
002591	0.89	0.93	0.79	0.96	0.95		0.96	0.92	002591
001300	0.85	0.85	0.71	0.91	0.91	0.96		0.9	001300
002318	0.87	0.87	0.65	0.84	0.94	0.92	0.9		002318
	002941	600498	603559	600082	603357	002591	001300	002318

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Risk-Adjusted Indicators

There is a big difference between Jiangsu Stock performing well and Jiangsu Broadcasting 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 Jiangsu Broadcasting'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
002941	2.83	0.60	0.16	2.16	2.83	(3.36)	9.95	(4.98)	19.30
600498	2.10	0.41	0.10	(4.67)	2.38	(2.38)	4.93	(4.17)	16.52
603559	3.72	1.25	0.24	(1.07)	3.69	(4.25)	5.05	(5.00)	10.11
600082	2.71	0.75	0.20	5.91	2.77	(3.23)	7.93	(4.35)	20.06
603357	1.85	0.36	0.08	(27.37)	2.26	(1.87)	4.07	(3.06)	16.77
002591	2.10	0.66	0.14	(2.04)	2.98	(2.26)	4.22	(4.58)	17.87
001300	2.37	0.63	0.17	18.54	2.54	(2.73)	6.23	(4.16)	19.19
002318	1.88	0.31	0.12	0.84	1.80	(2.30)	5.75	(2.58)	13.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jiangsu Broadcasting 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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