Zhende Medical Correlations
| 603301 Stock | 22.66 0.02 0.09% |
The current 90-days correlation between Zhende Medical and Talkweb Information System is 0.05 (i.e., Significant diversification). The correlation of Zhende Medical 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.
Zhende Medical Correlation With Market
Good diversification
The correlation between Zhende Medical Co and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhende Medical Co and DJI in the same portfolio, assuming nothing else is changed.
Zhende |
The ability to find closely correlated positions to Zhende Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhende Medical 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 Zhende Medical - 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 Zhende Medical Co to buy it.
Moving together with Zhende Stock
| 0.61 | 601939 | China Construction Bank | PairCorr |
| 0.8 | 601318 | Ping An Insurance | PairCorr |
| 0.78 | 600036 | China Merchants Bank | PairCorr |
| 0.62 | 601166 | Industrial Bank | PairCorr |
| 0.75 | 002065 | Dhc Software | PairCorr |
| 0.7 | 603365 | Shanghai Shuixing Home | PairCorr |
| 0.83 | 688047 | Loongson Technology Corp | PairCorr |
| 0.8 | 001323 | De Rucci Healthy | PairCorr |
| 0.92 | 000661 | Changchun High New | PairCorr |
| 0.9 | 601059 | Cinda Securities | PairCorr |
| 0.82 | 000428 | Huatian Hotel Group | PairCorr |
| 0.89 | 000761 | Bengang Steel Plates | PairCorr |
| 0.77 | 600719 | Dalian Thermal Power | PairCorr |
| 0.8 | 002946 | New Hope Dairy | PairCorr |
| 0.81 | 601865 | Flat Glass Group | PairCorr |
| 0.79 | 603800 | Suzhou Douson Drilling | PairCorr |
| 0.89 | 000560 | 5I5j Holding Group | PairCorr |
| 0.67 | 000909 | Soyea Technology | PairCorr |
| 0.67 | 000609 | Beijing Mainstreets | PairCorr |
| 0.7 | 605388 | JuneYao Dairy | PairCorr |
| 0.77 | 603969 | Tianjin Silvery Dragon | PairCorr |
| 0.87 | 002152 | GRG Banking Equipment | PairCorr |
| 0.85 | 300894 | Marssenger Kitchenware | PairCorr |
| 0.83 | 603659 | Shanghai Putailai New | PairCorr |
| 0.89 | 600335 | Sinomach Automobile | PairCorr |
| 0.75 | 688603 | Guangdong Skychem | PairCorr |
| 0.81 | 603818 | Qumei Furniture Group | PairCorr |
| 0.73 | 002303 | Shenzhen MYS Environ | PairCorr |
| 0.74 | 605168 | Threes Company | PairCorr |
| 0.88 | 300815 | Eit Environmental | PairCorr |
| 0.83 | 688325 | Guangdong Cellwise | PairCorr |
| 0.75 | 600363 | Jiangxi Lianchuang Opto | PairCorr |
Related Correlations Analysis
| 0.73 | 0.61 | 0.47 | 0.62 | 0.8 | 0.62 | 002261 | ||
| 0.73 | 0.76 | 0.82 | 0.91 | 0.84 | 0.86 | 000555 | ||
| 0.61 | 0.76 | 0.74 | 0.85 | 0.52 | 0.9 | 000506 | ||
| 0.47 | 0.82 | 0.74 | 0.93 | 0.68 | 0.82 | 000900 | ||
| 0.62 | 0.91 | 0.85 | 0.93 | 0.76 | 0.91 | 300074 | ||
| 0.8 | 0.84 | 0.52 | 0.68 | 0.76 | 0.63 | 002987 | ||
| 0.62 | 0.86 | 0.9 | 0.82 | 0.91 | 0.63 | 000638 | ||
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Risk-Adjusted Indicators
There is a big difference between Zhende Stock performing well and Zhende Medical 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 Zhende Medical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 002261 | 3.65 | 0.89 | 0.21 | (18.74) | 3.43 | 10.00 | 20.02 | |||
| 000555 | 3.30 | 0.81 | 0.20 | (5.58) | 3.55 | 10.00 | 20.05 | |||
| 000506 | 3.48 | 1.50 | 0.34 | 10.69 | 3.22 | 5.14 | 10.40 | |||
| 000900 | 1.71 | 0.46 | 0.21 | (3.54) | 1.60 | 5.25 | 13.93 | |||
| 300074 | 3.04 | 0.78 | 0.16 | 2.54 | 4.03 | 5.65 | 28.49 | |||
| 002987 | 3.00 | 0.64 | 0.15 | 0.92 | 3.49 | 9.98 | 18.64 | |||
| 000638 | 2.73 | 0.68 | 0.18 | 54.77 | 3.26 | 6.42 | 18.86 |
Be your own money manager
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