Gem-Year Industrial Correlations

601002 Stock

4.88 0.22 4.31%

The current 90-days correlation between Gem Year Industrial and Maccura Biotechnology Co is 0.48 (i.e., Very weak diversification). The correlation of Gem-Year Industrial 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.

Gem-Year Industrial Correlation With Market

Significant diversification

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

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

Moving together with Gem-Year Stock

0.8	688103	Kunshan Guoli Electronic	Pair Corr
0.62	600386	Beijing Bashi Media	Pair Corr
0.62	301236	iSoftStone Information	Pair Corr
0.78	603819	Changzhou Shenli Ele	Pair Corr
0.65	300624	Wondershare Technology	Pair Corr
0.64	603259	WuXi AppTec	Pair Corr
0.71	300368	Hebei Huijin Electro	Pair Corr
0.65	301365	Matrix Design	Pair Corr
0.81	000425	XCMG Construction	Pair Corr
0.64	688159	Shenzhen Neoway Tech	Pair Corr
0.72	300214	Shandong Rike Chemical	Pair Corr
0.71	300578	BizConf Telecom	Pair Corr
0.71	688393	Guangzhou LBP Medicine	Pair Corr
0.93	688558	Nantong Guosheng Int	Pair Corr
0.79	688013	Touchstone International	Pair Corr

Moving against Gem-Year Stock

0.64	600938	CNOOC Limited	Pair Corr
0.61	601857	PetroChina	Pair Corr
0.47	600028	China Petroleum Chemical	Pair Corr
0.32	601088	China Shenhua Energy	Pair Corr
0.32	600368	Guangxi Wuzhou Commu	Pair Corr

Related Correlations Analysis

	300463	002261	688525	603077	300369	001314	300605
300463		-0.02	-0.07	0.8	0.71	0.06	0.58	300463
002261	-0.02		0.61	-0.33	0.58	0.57	0.61	002261
688525	-0.07	0.61		-0.17	0.31	0.69	0.39	688525
603077	0.8	-0.33	-0.17		0.45	-0.05	0.41	603077
300369	0.71	0.58	0.31	0.45		0.36	0.96	300369
001314	0.06	0.57	0.69	-0.05	0.36		0.41	001314
300605	0.58	0.61	0.39	0.41	0.96	0.41		300605
	300463	002261	688525	603077	300369	001314	300605

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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

300605	+ 0.96	300369
603077	+ 0.8	300463
300369	+ 0.71	300463
001314	+ 0.69	688525
688525	+ 0.61	002261
300605	+ 0.61	002261

High negative correlations

603077	- 0.33	002261
603077	- 0.17	688525
688525	- 0.07	300463
001314	- 0.05	603077
002261	- 0.02	300463

Risk-Adjusted Indicators

There is a big difference between Gem-Year Stock performing well and Gem-Year Industrial 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 Gem-Year Industrial'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
300463	1.24	(0.19)	0.00	2.36	0.00	0.00	1.93	(2.91)	6.93
002261	3.51	0.70	0.21	(2.20)	2.94	(4.25)	10.01	(4.96)	20.01
688525	2.79	0.37	0.13	(1.66)	2.94	(3.08)	5.87	(4.49)	12.15
603077	1.30	(0.17)	0.00	0.62	0.00	0.00	3.16	(2.94)	12.09
300369	2.31	(0.06)	0.00	(0.30)	0.00	0.00	5.02	(5.93)	11.09
001314	3.52	0.29	0.08	(0.65)	3.98	(3.93)	10.00	(8.10)	20.01
300605	2.38	0.07	0.03	0.64	3.57	(2.26)	5.17	(5.78)	13.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gem-Year Industrial 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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