Great Sun Correlations

603336 Stock

4.79 0.09 1.91%

The current 90-days correlation between Great Sun Foods and Shaanxi Broadcast TV is 0.47 (i.e., Very weak diversification). The correlation of Great Sun 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.

Great Sun Correlation With Market

Average diversification

The correlation between Great Sun Foods Co and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Great Sun Foods Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Great Stock

0.72	603959	Hunan Baili Engineering	Pair Corr
0.48	601988	Bank of China Limited Earnings Call Tomorrow	Pair Corr
0.43	600941	China Mobile Limited	Pair Corr
0.39	600938	CNOOC Limited	Pair Corr
0.36	601857	PetroChina	Pair Corr
0.33	601398	Industrial and Commercial Earnings Call Today	Pair Corr

Related Correlations Analysis

	600831	603843	300839	603712	000524	002813	002258	300927
600831		0.05	0.76	0.8	0.81	0.84	0.83	0.79	600831
603843	0.05		-0.24	0.11	0.38	0.1	-0.01	-0.07	603843
300839	0.76	-0.24		0.64	0.52	0.62	0.86	0.84	300839
603712	0.8	0.11	0.64		0.79	0.67	0.76	0.58	603712
000524	0.81	0.38	0.52	0.79		0.82	0.68	0.6	000524
002813	0.84	0.1	0.62	0.67	0.82		0.64	0.63	002813
002258	0.83	-0.01	0.86	0.76	0.68	0.64		0.81	002258
300927	0.79	-0.07	0.84	0.58	0.6	0.63	0.81		300927
	600831	603843	300839	603712	000524	002813	002258	300927

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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

002258	+ 0.86	300839
002813	+ 0.84	600831
300927	+ 0.84	300839
002258	+ 0.83	600831
002813	+ 0.82	000524
000524	+ 0.81	600831

High negative correlations

300839	- 0.24	603843
300927	- 0.07	603843
002258	- 0.01	603843

Risk-Adjusted Indicators

There is a big difference between Great Stock performing well and Great Sun 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 Great Sun'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
600831	1.80	(0.14)	0.00	(1.27)	0.00	0.00	4.38	(4.78)	8.77
603843	2.76	0.12	0.04	0.17	3.20	(3.25)	7.60	(6.55)	16.84
300839	2.45	0.04	0.02	0.11	3.01	(3.04)	5.39	(5.89)	26.87
603712	2.27	(0.11)	0.00	0.22	0.00	0.00	4.94	(5.60)	13.65
000524	1.37	(0.13)	0.00	0.33	0.00	0.00	2.49	(4.49)	8.72
002813	1.74	(0.26)	0.00	93.72	0.00	0.00	4.20	(4.25)	11.97
002258	1.07	0.00	0.03	(0.07)	1.18	(1.36)	2.75	(2.17)	5.29
300927	2.08	0.12	0.06	0.28	2.30	(2.26)	5.47	(3.97)	14.75

Be your own money manager

Our tools can tell you how much better you can do entering a position in Great Sun 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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