Jiahe Foods Correlations

Stocks . China . 
Stock . Jiahe Foods Industry
605300 Stock   13.94  0.24  1.75%   
The current 90-days correlation between Jiahe Foods Industry and Pengxin International Mining is 0.12 (i.e., Average diversification). The correlation of Jiahe Foods 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.

Jiahe Foods Correlation With Market

Average diversification

The correlation between Jiahe Foods Industry and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jiahe Foods Industry and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Jiahe Foods could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jiahe Foods 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 Jiahe Foods - 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 Jiahe Foods Industry to buy it.

Moving together with Jiahe Stock

  0.67300530 Hunan Lead PowerPairCorr

Moving against Jiahe Stock

  0.67600938 CNOOC LimitedPairCorr
  0.66601857 PetroChinaPairCorr
  0.4603959 Hunan Baili EngineeringPairCorr

Related Correlations Analysis

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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   
301190
+ 0.92
002179
301190
+ 0.92
300777
300221
+ 0.9
300777
301190
+ 0.84
300221
300777
+ 0.82
002179
300221
+ 0.79
002526
  
High negative correlations   
601168
- 0.02
301311

Risk-Adjusted Indicators

There is a big difference between Jiahe Stock performing well and Jiahe Foods 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 Jiahe Foods' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jiahe Foods 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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