Anhui Yingjia Correlations

603198 Stock

57.13 0.09 0.16%

The current 90-days correlation between Anhui Yingjia Distillery and Shenzhen New Nanshan is 0.03 (i.e., Significant diversification). The correlation of Anhui Yingjia 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.

Anhui Yingjia Correlation With Market

Good diversification

The correlation between Anhui Yingjia Distillery and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Yingjia Distillery and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Anhui Stock

0.61	301298	Baoding Dongli Machinery	Pair Corr
0.66	002683	Guangdong HongDa Blasting	Pair Corr

Moving against Anhui Stock

0.56	601398	Industrial and Commercial Earnings Call This Week	Pair Corr
0.55	601988	Bank of China Limited Earnings Call This Week	Pair Corr
0.45	601288	Agricultural Bank Earnings Call This Week	Pair Corr
0.35	508019	Cicc Fund Management	Pair Corr
0.57	508058	CICC Fund Management	Pair Corr
0.53	002916	Shennan Circuits	Pair Corr

Related Correlations Analysis

	300274	002314	002466	688126	000729	601088	300033	300748	600600	601607
300274		0.63	0.6	0.3	-0.41	0.76	0.05	-0.47	0.58	0.74	300274
002314	0.63		0.92	0.73	-0.44	0.64	0.4	-0.15	0.53	0.77	002314
002466	0.6	0.92		0.79	-0.42	0.52	0.48	-0.06	0.49	0.65	002466
688126	0.3	0.73	0.79		-0.33	0.16	0.46	0.29	0.23	0.35	688126
000729	-0.41	-0.44	-0.42	-0.33		-0.24	-0.32	-0.17	0.18	-0.48	000729
601088	0.76	0.64	0.52	0.16	-0.24		-0.16	-0.75	0.82	0.89	601088
300033	0.05	0.4	0.48	0.46	-0.32	-0.16		0.57	-0.26	0.12	300033
300748	-0.47	-0.15	-0.06	0.29	-0.17	-0.75	0.57		-0.74	-0.52	300748
600600	0.58	0.53	0.49	0.23	0.18	0.82	-0.26	-0.74		0.64	600600
601607	0.74	0.77	0.65	0.35	-0.48	0.89	0.12	-0.52	0.64		601607
	300274	002314	002466	688126	000729	601088	300033	300748	600600	601607

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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

002466	+ 0.92	002314
601607	+ 0.89	601088
600600	+ 0.82	601088
688126	+ 0.79	002466
601607	+ 0.77	002314
601088	+ 0.76	300274

High negative correlations

300748	- 0.75	601088
600600	- 0.74	300748
601607	- 0.52	300748
601607	- 0.48	000729
300748	- 0.47	300274
000729	- 0.44	002314

Risk-Adjusted Indicators

There is a big difference between Anhui Stock performing well and Anhui Yingjia 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 Anhui Yingjia'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
300274	1.47	(0.13)	0.00	(0.37)	0.00	0.00	3.09	(3.00)	8.15
002314	1.80	(0.29)	0.00	(3.11)	0.00	0.00	2.68	(3.93)	15.96
002466	1.53	(0.20)	0.00	(1.51)	0.00	0.00	2.74	(3.27)	10.72
688126	1.64	(0.11)	0.00	(0.29)	0.00	0.00	3.09	(3.65)	22.76
000729	1.28	0.32	0.35	3.44	0.87	(1.60)	3.51	(1.80)	7.19
601088	1.07	(0.24)	0.00	1.09	0.00	0.00	2.00	(2.29)	5.98
300033	2.48	0.02	0.00	(0.08)	0.00	0.00	6.06	(5.16)	22.56
300748	2.22	0.05	0.05	0.21	2.37	(2.76)	5.06	(3.73)	19.14
600600	1.21	0.01	0.07	0.20	1.46	(1.39)	3.06	(2.02)	8.89
601607	0.78	(0.17)	0.00	(1.62)	0.00	0.00	1.47	(1.64)	6.07

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Our tools can tell you how much better you can do entering a position in Anhui Yingjia 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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