Ningbo Fujia Correlations

603219 Stock

14.92 0.26 1.77%

The current 90-days correlation between Ningbo Fujia Industrial and Agricultural Bank of is -0.07 (i.e., Good diversification). The correlation of Ningbo Fujia 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.

Ningbo Fujia Correlation With Market

Good diversification

The correlation between Ningbo Fujia Industrial and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ningbo Fujia Industrial and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ningbo Stock

0.63	000980	Zotye Automobile	Pair Corr
0.61	600498	Fiberhome Telecommunicatio	Pair Corr
0.66	300815	Eit Environmental	Pair Corr
0.72	002946	New Hope Dairy	Pair Corr
0.67	603313	Healthcare	Pair Corr
0.71	301390	Hangzhou Gisway Info	Pair Corr
0.64	603068	Beken Corp	Pair Corr
0.63	000889	ZJBC Information Tec	Pair Corr
0.69	600515	Hainan HNA Infrastructure	Pair Corr

Related Correlations Analysis

	601288	601398	601988	601939	600036	601857	601166	600000	601628	601318
601288		0.96	0.97	0.93	0.49	0.6	0.5	0.41	0.08	0.09	601288
601398	0.96		0.98	0.96	0.58	0.62	0.54	0.48	0.2	0.2	601398
601988	0.97	0.98		0.92	0.47	0.58	0.46	0.36	0.11	0.08	601988
601939	0.93	0.96	0.92		0.73	0.6	0.67	0.6	0.35	0.38	601939
600036	0.49	0.58	0.47	0.73		0.51	0.88	0.88	0.83	0.89	600036
601857	0.6	0.62	0.58	0.6	0.51		0.69	0.67	0.25	0.33	601857
601166	0.5	0.54	0.46	0.67	0.88	0.69		0.94	0.66	0.8	601166
600000	0.41	0.48	0.36	0.6	0.88	0.67	0.94		0.69	0.83	600000
601628	0.08	0.2	0.11	0.35	0.83	0.25	0.66	0.69		0.93	601628
601318	0.09	0.2	0.08	0.38	0.89	0.33	0.8	0.83	0.93		601318
	601288	601398	601988	601939	600036	601857	601166	600000	601628	601318

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Risk-Adjusted Indicators

There is a big difference between Ningbo Stock performing well and Ningbo Fujia 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 Ningbo Fujia'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
601288	1.06	0.24	0.14	1.68	1.12	(1.17)	2.98	(1.89)	7.78
601398	1.14	0.31	0.21	3.79	1.00	(1.49)	2.83	(1.71)	8.14
601988	1.01	0.26	0.18	1.72	0.92	(1.28)	2.67	(1.98)	7.70
601939	1.13	0.31	0.18	1.97	1.15	(1.35)	3.32	(1.93)	8.64
600036	1.55	0.39	0.17	(4.43)	1.72	(1.76)	4.65	(2.56)	13.83
601857	1.34	0.21	0.08	11.37	1.80	(1.75)	3.55	(2.01)	17.17
601166	1.39	0.28	0.13	1.87	1.49	(1.48)	3.84	(2.41)	12.07
600000	1.40	0.30	0.16	2.08	1.29	(1.68)	3.69	(2.14)	10.95
601628	2.11	0.32	0.10	0.84	2.55	(2.26)	6.42	(3.94)	20.00
601318	1.79	0.31	0.12	0.95	1.94	(2.21)	5.83	(2.88)	19.77

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Our tools can tell you how much better you can do entering a position in Ningbo Fujia 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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