Caitong Securities Correlations
| 601108 Stock | 8.32 0.04 0.48% |
The current 90-days correlation between Caitong Securities and Suofeiya Home Collection is 0.56 (i.e., Very weak diversification). The correlation of Caitong Securities 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.
Caitong Securities Correlation With Market
Significant diversification
The correlation between Caitong Securities 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 Caitong Securities Co and DJI in the same portfolio, assuming nothing else is changed.
Caitong |
The ability to find closely correlated positions to Caitong Securities could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Caitong Securities 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 Caitong Securities - 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 Caitong Securities Co to buy it.
Moving together with Caitong Stock
| 0.71 | 601398 | Industrial and Commercial | PairCorr |
| 0.75 | 601939 | China Construction Bank | PairCorr |
| 0.77 | 601658 | Postal Savings Bank | PairCorr |
| 0.71 | 601328 | Bank of Communications | PairCorr |
| 0.91 | 601318 | Ping An Insurance | PairCorr |
| 0.89 | 600036 | China Merchants Bank | PairCorr |
| 0.78 | 601166 | Industrial Bank | PairCorr |
| 0.86 | 601998 | China Citic Bank | PairCorr |
Related Correlations Analysis
| 0.82 | 0.92 | 0.86 | 0.9 | 0.54 | 0.87 | 300804 | ||
| 0.82 | 0.96 | 0.79 | 0.87 | 0.57 | 0.59 | 603226 | ||
| 0.92 | 0.96 | 0.89 | 0.91 | 0.6 | 0.73 | 603709 | ||
| 0.86 | 0.79 | 0.89 | 0.77 | 0.72 | 0.7 | 603326 | ||
| 0.9 | 0.87 | 0.91 | 0.77 | 0.43 | 0.73 | 002476 | ||
| 0.54 | 0.57 | 0.6 | 0.72 | 0.43 | 0.44 | 603389 | ||
| 0.87 | 0.59 | 0.73 | 0.7 | 0.73 | 0.44 | 002572 | ||
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Risk-Adjusted Indicators
There is a big difference between Caitong Stock performing well and Caitong Securities 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 Caitong Securities' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 300804 | 1.96 | 0.32 | 0.09 | (4.55) | 2.98 | 3.53 | 24.12 | |||
| 603226 | 2.69 | 0.84 | 0.24 | (3.79) | 2.76 | 6.71 | 18.02 | |||
| 603709 | 2.18 | 0.52 | 0.14 | 2.45 | 3.06 | 4.59 | 17.62 | |||
| 603326 | 2.20 | 0.48 | 0.13 | 1.16 | 2.90 | 5.69 | 20.11 | |||
| 002476 | 2.31 | 0.42 | 0.12 | 0.72 | 2.77 | 6.83 | 16.23 | |||
| 603389 | 3.42 | 0.58 | 0.10 | (3.19) | 4.56 | 9.98 | 20.01 | |||
| 002572 | 2.83 | 0.49 | 0.16 | 1.98 | 2.58 | 7.72 | 19.97 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Caitong Securities 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?
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