Olympic Circuit Correlations

603920 Stock

37.25 1.32 3.42%

The current 90-days correlation between Olympic Circuit Tech and Runjian Communication Co is 0.22 (i.e., Modest diversification). The correlation of Olympic Circuit 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.

Olympic Circuit Correlation With Market

Average diversification

The correlation between Olympic Circuit Technology and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Olympic Circuit Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Olympic Stock

0.68	600036	China Merchants Bank	Pair Corr
0.71	601166	Industrial Bank	Pair Corr
0.64	301236	iSoftStone Information	Pair Corr

Moving against Olympic Stock

0.49

601857

PetroChina

Pair Corr

Related Correlations Analysis

	300261	600335	002929	603712	000678	600115	300597	300804
300261		0.65	-0.28	0.71	0.07	0.76	0.75	0.84	300261
600335	0.65		0.23	0.66	0.49	0.43	0.89	0.71	600335
002929	-0.28	0.23		-0.08	0.56	-0.53	0.26	0.0	002929
603712	0.71	0.66	-0.08		0.52	0.75	0.7	0.6	603712
000678	0.07	0.49	0.56	0.52		0.1	0.51	0.28	000678
600115	0.76	0.43	-0.53	0.75	0.1		0.48	0.55	600115
300597	0.75	0.89	0.26	0.7	0.51	0.48		0.85	300597
300804	0.84	0.71	0.0	0.6	0.28	0.55	0.85		300804
	300261	600335	002929	603712	000678	600115	300597	300804

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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

300597	+ 0.89	600335
300804	+ 0.85	300597
300804	+ 0.84	300261
600115	+ 0.76	300261
300597	+ 0.75	300261
600115	+ 0.75	603712

High negative correlations

600115	- 0.53	002929
002929	- 0.28	300261
603712	- 0.08	002929
300804	- 0.0	002929

Risk-Adjusted Indicators

There is a big difference between Olympic Stock performing well and Olympic Circuit 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 Olympic Circuit'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
300261	1.80	(0.24)	0.00	(0.52)	0.00	0.00	3.40	(4.44)	10.22
600335	1.55	0.07	0.03	0.19	2.15	(1.50)	2.87	(2.96)	16.26
002929	3.34	1.24	0.36	(6.40)	2.80	(4.06)	10.00	(4.81)	16.47
603712	2.52	0.03	0.01	0.19	3.14	(2.56)	6.05	(5.60)	17.02
000678	3.20	0.37	0.09	0.73	3.93	(3.40)	6.45	(5.92)	20.00
600115	1.26	(0.05)	0.00	(0.66)	0.00	0.00	3.53	(2.60)	10.31
300597	1.90	0.03	0.01	0.14	3.02	(1.89)	3.90	(5.65)	12.54
300804	1.52	(0.02)	0.00	(0.36)	0.00	0.00	2.56	(4.39)	9.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in Olympic Circuit 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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