Keli Sensing Correlations

603662 Stock

85.37 2.07 2.48%

The current 90-days correlation between Keli Sensing Technology and Jilin Jlu Communication is 0.32 (i.e., Weak diversification). The correlation of Keli Sensing 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.

Keli Sensing Correlation With Market

Significant diversification

The correlation between Keli Sensing Technology and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Keli Sensing Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Keli Stock

0.68	002304	Jiangsu Yanghe Brewery	Pair Corr
0.49	688558	Nantong Guosheng Int	Pair Corr
0.44	688256	Cambricon Technologies	Pair Corr
0.37	603819	Changzhou Shenli Ele	Pair Corr

Related Correlations Analysis

	300597	603345	002929	300590	002714	600418	600006
300597		0.57	0.29	0.52	0.51	-0.04	0.79	300597
603345	0.57		-0.4	-0.12	0.88	-0.21	0.45	603345
002929	0.29	-0.4		0.71	-0.38	0.04	0.35	002929
300590	0.52	-0.12	0.71		-0.23	0.29	0.63	300590
002714	0.51	0.88	-0.38	-0.23		-0.13	0.3	002714
600418	-0.04	-0.21	0.04	0.29	-0.13		0.1	600418
600006	0.79	0.45	0.35	0.63	0.3	0.1		600006
	300597	603345	002929	300590	002714	600418	600006

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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

002714	+ 0.88	603345
600006	+ 0.79	300597
300590	+ 0.71	002929
600006	+ 0.63	300590
603345	+ 0.57	300597
300590	+ 0.52	300597

High negative correlations

002929	- 0.4	603345
002714	- 0.38	002929
002714	- 0.23	300590
600418	- 0.21	603345
600418	- 0.13	002714
300590	- 0.12	603345

Risk-Adjusted Indicators

There is a big difference between Keli Stock performing well and Keli Sensing 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 Keli Sensing'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
300597	1.83	0.13	0.05	0.54	2.88	(1.87)	3.90	(4.74)	12.54
603345	1.59	(0.18)	0.00	(3.54)	0.00	0.00	3.92	(2.85)	9.27
002929	3.31	1.27	0.38	(13.04)	2.68	(4.06)	10.00	(4.81)	18.41
300590	2.85	0.42	0.12	0.64	3.17	(3.02)	5.76	(5.95)	17.89
002714	0.97	(0.17)	0.00	(0.90)	0.00	0.00	1.81	(2.21)	7.06
600418	2.38	(0.20)	0.00	(0.24)	0.00	0.00	4.25	(5.75)	16.05
600006	2.20	0.11	0.05	(0.28)	2.67	(2.47)	4.57	(4.98)	17.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in Keli Sensing 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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