Sichuan Teway Correlations

603317 Stock

13.61 0.24 1.73%

The current 90-days correlation between Sichuan Teway Food and Lutian Machinery Co is 0.53 (i.e., Very weak diversification). The correlation of Sichuan Teway 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.

Sichuan Teway Correlation With Market

Average diversification

The correlation between Sichuan Teway Food and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Teway Food and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sichuan Stock

0.9	600036	China Merchants Bank	Pair Corr
0.76	601658	Postal Savings Bank	Pair Corr
0.93	900957	Shanghai Lingyun Ind	Pair Corr

Related Correlations Analysis

	605259	601857	601988	600307	601615	300261	000683	300590	300049	002605
605259		-0.29	0.22	0.91	0.96	0.88	0.59	0.87	-0.05	0.91	605259
601857	-0.29		0.51	-0.35	-0.24	-0.24	0.29	-0.08	0.52	-0.33	601857
601988	0.22	0.51		0.1	0.27	0.17	0.44	0.33	0.48	0.25	601988
600307	0.91	-0.35	0.1		0.91	0.94	0.68	0.79	-0.08	0.79	600307
601615	0.96	-0.24	0.27	0.91		0.93	0.64	0.88	0.06	0.92	601615
300261	0.88	-0.24	0.17	0.94	0.93		0.71	0.87	0.15	0.83	300261
000683	0.59	0.29	0.44	0.68	0.64	0.71		0.74	0.51	0.43	000683
300590	0.87	-0.08	0.33	0.79	0.88	0.87	0.74		0.41	0.85	300590
300049	-0.05	0.52	0.48	-0.08	0.06	0.15	0.51	0.41		0.06	300049
002605	0.91	-0.33	0.25	0.79	0.92	0.83	0.43	0.85	0.06		002605
	605259	601857	601988	600307	601615	300261	000683	300590	300049	002605

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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

601615	+ 0.96	605259
300261	+ 0.94	600307
300261	+ 0.93	601615
002605	+ 0.92	601615
600307	+ 0.91	605259
002605	+ 0.91	605259

High negative correlations

600307	- 0.35	601857
002605	- 0.33	601857
601857	- 0.29	605259
300261	- 0.24	601857
601615	- 0.24	601857
300049	- 0.08	600307

Risk-Adjusted Indicators

There is a big difference between Sichuan Stock performing well and Sichuan Teway 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 Sichuan Teway'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
605259	1.71	0.40	0.09	(1.56)	2.16	(1.70)	3.47	(3.43)	14.98
601857	1.45	(0.10)	0.00	0.31	0.00	0.00	3.43	(3.33)	17.17
601988	1.19	0.01	(0.05)	0.24	1.48	(1.44)	2.67	(2.86)	7.70
600307	2.54	0.70	0.14	(0.66)	2.90	(3.23)	9.56	(3.55)	19.98
601615	2.63	0.73	0.21	(3.06)	2.30	(3.22)	7.78	(4.15)	18.14
300261	3.36	0.79	0.13	(0.91)	4.03	(3.65)	12.80	(6.28)	30.23
000683	1.97	(0.04)	0.00	0.28	0.00	0.00	6.08	(4.23)	19.10
300590	3.46	0.63	0.11	(1.79)	3.91	(4.15)	5.96	(5.99)	36.78
300049	3.31	(0.16)	0.00	(0.23)	0.00	0.00	7.57	(7.51)	28.09
002605	3.45	1.00	0.23	(4.57)	3.27	(4.09)	9.99	(6.01)	19.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sichuan Teway 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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