Liuzhou Iron Correlations

601003 Stock

2.70 0.01 0.37%

The current 90-days correlation between Liuzhou Iron Steel and Wanhua Chemical Group is 0.47 (i.e., Very weak diversification). The correlation of Liuzhou Iron 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.

Liuzhou Iron Correlation With Market

Significant diversification

The correlation between Liuzhou Iron Steel and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Liuzhou Iron Steel and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Liuzhou Stock

0.8	600309	Wanhua Chemical Group	Pair Corr
0.85	002493	Rongsheng Petrochemical	Pair Corr
0.76	603260	Hoshine Silicon Ind	Pair Corr
0.9	600106	Chongqing Road Bridge	Pair Corr

Moving against Liuzhou Stock

0.74	688256	Cambricon Technologies	Pair Corr
0.63	600160	Zhejiang Juhua	Pair Corr
0.57	300561	SGSG Sciencetechnology	Pair Corr

Related Correlations Analysis

	601899	600309	600019	600547	002493	600010	002460	600160	603260	000807
601899		0.5	-0.4	0.88	0.14	-0.31	-0.42	-0.46	-0.02	0.48	601899
600309	0.5		-0.04	0.52	0.78	0.22	0.25	-0.71	0.69	-0.1	600309
600019	-0.4	-0.04		-0.48	-0.03	0.34	-0.01	0.31	0.23	-0.22	600019
600547	0.88	0.52	-0.48		0.24	-0.41	-0.31	-0.59	0.08	0.25	600547
002493	0.14	0.78	-0.03	0.24		0.54	0.66	-0.49	0.8	-0.25	002493
600010	-0.31	0.22	0.34	-0.41	0.54		0.67	0.06	0.48	-0.05	600010
002460	-0.42	0.25	-0.01	-0.31	0.66	0.67		-0.14	0.5	-0.4	002460
600160	-0.46	-0.71	0.31	-0.59	-0.49	0.06	-0.14		-0.42	0.25	600160
603260	-0.02	0.69	0.23	0.08	0.8	0.48	0.5	-0.42		-0.39	603260
000807	0.48	-0.1	-0.22	0.25	-0.25	-0.05	-0.4	0.25	-0.39		000807
	601899	600309	600019	600547	002493	600010	002460	600160	603260	000807

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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

600547	+ 0.88	601899
603260	+ 0.8	002493
002493	+ 0.78	600309
603260	+ 0.69	600309
002460	+ 0.67	600010
002460	+ 0.66	002493

High negative correlations

600160	- 0.71	600309
600160	- 0.59	600547
600160	- 0.49	002493
600547	- 0.48	600019
600160	- 0.46	601899
603260	- 0.42	600160

Risk-Adjusted Indicators

There is a big difference between Liuzhou Stock performing well and Liuzhou Iron 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 Liuzhou Iron'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
601899	1.43	(0.07)	0.00	6.25	0.00	0.00	3.18	(3.21)	7.47
600309	1.25	(0.17)	0.00	(0.33)	0.00	0.00	2.17	(2.42)	6.17
600019	1.18	0.01	0.00	0.17	1.46	(1.25)	2.45	(2.60)	7.96
600547	1.03	(0.26)	0.00	3.28	0.00	0.00	1.71	(2.58)	5.78
002493	1.08	0.01	0.00	0.05	1.43	(1.14)	2.35	(2.11)	7.71
600010	1.97	0.22	0.09	(2.34)	1.83	(2.79)	4.17	(3.06)	15.26
002460	2.53	0.21	0.07	0.27	2.68	(2.97)	6.03	(4.00)	16.45
600160	1.83	0.43	0.20	2.59	1.75	(2.15)	4.76	(3.43)	10.51
603260	1.54	0.09	0.04	1.28	1.68	(1.79)	2.87	(3.48)	14.15
000807	1.66	0.21	0.08	(5.85)	1.99	(1.67)	5.25	(3.17)	11.84

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