Juewei Food Correlations

603517 Stock

15.86 0.02 0.13%

The current 90-days correlation between Juewei Food and PetroChina Co Ltd is -0.07 (i.e., Good diversification). The correlation of Juewei Food 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.

Juewei Food Correlation With Market

Average diversification

The correlation between Juewei Food 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 Juewei Food Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Juewei Stock

0.78

601318

Ping An Insurance

Pair Corr

Moving against Juewei Stock

0.73	603959	Hunan Baili Engineering	Pair Corr
0.45	601988	Bank of China Limited Earnings Call This Week	Pair Corr
0.41	600036	China Merchants Bank Earnings Call Today	Pair Corr
0.4	601398	Industrial and Commercial Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	601857	601398	600028	601939	601288	601988	600036	600938	601318	601658
601857		-0.29	0.92	0.03	0.17	0.11	-0.71	0.98	-0.06	0.48	601857
601398	-0.29		-0.31	0.82	0.8	0.83	0.52	-0.28	0.02	0.13	601398
600028	0.92	-0.31		0.15	0.24	-0.01	-0.8	0.9	0.25	0.69	600028
601939	0.03	0.82	0.15		0.92	0.74	0.16	0.03	0.33	0.55	601939
601288	0.17	0.8	0.24	0.92		0.81	0.11	0.15	0.33	0.67	601288
601988	0.11	0.83	-0.01	0.74	0.81		0.29	0.08	-0.15	0.27	601988
600036	-0.71	0.52	-0.8	0.16	0.11	0.29		-0.72	0.03	-0.37	600036
600938	0.98	-0.28	0.9	0.03	0.15	0.08	-0.72		-0.11	0.44	600938
601318	-0.06	0.02	0.25	0.33	0.33	-0.15	0.03	-0.11		0.68	601318
601658	0.48	0.13	0.69	0.55	0.67	0.27	-0.37	0.44	0.68		601658
	601857	601398	600028	601939	601288	601988	600036	600938	601318	601658

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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

600938	+ 0.98	601857
600028	+ 0.92	601857
601288	+ 0.92	601939
600938	+ 0.9	600028
601988	+ 0.83	601398
601939	+ 0.82	601398

High negative correlations

600036	- 0.8	600028
600938	- 0.72	600036
600036	- 0.71	601857
601658	- 0.37	600036
600028	- 0.31	601398
601398	- 0.29	601857

Risk-Adjusted Indicators

There is a big difference between Juewei Stock performing well and Juewei Food 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 Juewei Food'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
601857	0.99	(0.09)	0.00	(2.15)	0.00	0.00	2.33	(2.54)	5.82
601398	0.94	0.11	0.15	0.68	1.03	(1.12)	2.25	(1.68)	6.36
600028	0.78	(0.16)	0.00	(2.38)	0.00	0.00	1.24	(1.62)	5.09
601939	0.93	0.07	0.11	0.17	0.92	(1.24)	2.13	(1.87)	5.18
601288	0.89	0.04	0.08	0.20	1.14	(1.02)	2.20	(1.60)	7.85
601988	0.90	0.07	0.11	0.42	1.03	(1.06)	2.09	(1.89)	5.28
600036	0.95	0.26	0.23	0.58	0.95	(1.05)	2.17	(1.69)	5.17
600938	0.96	(0.05)	0.00	(0.32)	0.00	0.00	2.15	(2.36)	6.77
601318	1.01	(0.07)	0.00	(0.35)	0.00	0.00	1.58	(2.40)	7.48
601658	0.95	(0.02)	0.00	(0.13)	0.00	0.00	1.97	(1.69)	8.59

Be your own money manager

Our tools can tell you how much better you can do entering a position in Juewei Food 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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