Juewei Food Correlations

603517 Stock

15.25 0.34 2.28%

The current 90-days correlation between Juewei Food and Southern PublishingMedia Co is 0.02 (i.e., Significant 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 0.11 (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

0.7	600519	Kweichow Moutai	Pair Corr
0.78	000858	Wuliangye Yibin	Pair Corr
0.68	300760	Shenzhen Mindray Bio	Pair Corr
0.79	603688	Jiangsu Pacific Quartz	Pair Corr
0.92	002304	Jiangsu Yanghe Brewery	Pair Corr
0.86	000568	Luzhou Lao Jiao	Pair Corr
0.66	301589	Novastar	Pair Corr

Related Correlations Analysis

	601900	601019	600600	600019	002659	600477	603919
601900		0.49	-0.23	0.37	0.29	0.19	-0.04	601900
601019	0.49		0.45	0.72	0.37	0.33	0.29	601019
600600	-0.23	0.45		0.45	-0.02	-0.13	0.31	600600
600019	0.37	0.72	0.45		0.19	0.28	0.2	600019
002659	0.29	0.37	-0.02	0.19		0.85	0.65	002659
600477	0.19	0.33	-0.13	0.28	0.85		0.56	600477
603919	-0.04	0.29	0.31	0.2	0.65	0.56		603919
	601900	601019	600600	600019	002659	600477	603919

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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

600477	+ 0.85	002659
600019	+ 0.72	601019
603919	+ 0.65	002659
603919	+ 0.56	600477
601019	+ 0.49	601900
600600	+ 0.45	601019

High negative correlations

600600	- 0.23	601900
600477	- 0.13	600600
603919	- 0.04	601900
002659	- 0.02	600600

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
601900	1.79	0.03	0.02	(0.41)	1.98	(2.07)	5.25	(3.00)	12.30
601019	1.63	(0.03)	0.00	(0.39)	0.00	0.00	3.07	(3.31)	15.27
600600	1.27	(0.07)	0.00	(0.59)	0.00	0.00	2.68	(2.91)	8.90
600019	1.18	0.03	0.03	(0.09)	1.39	(1.43)	3.10	(2.60)	8.10
002659	2.42	0.02	0.01	13.41	3.69	(2.31)	4.83	(5.70)	17.68
600477	1.92	0.09	0.05	(0.22)	2.05	(2.37)	3.74	(3.62)	16.17
603919	1.24	(0.15)	0.00	(0.38)	0.00	0.00	2.31	(2.54)	7.83

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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