JuneYao Dairy Correlations
| 605388 Stock | 7.50 0.68 9.97% |
The current 90-days correlation between JuneYao Dairy and China Mobile Limited is 0.25 (i.e., Modest diversification). The correlation of JuneYao Dairy 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.
JuneYao Dairy Correlation With Market
Significant diversification
The correlation between JuneYao Dairy Co and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JuneYao Dairy Co and DJI in the same portfolio, assuming nothing else is changed.
JuneYao |
The ability to find closely correlated positions to JuneYao Dairy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JuneYao Dairy 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 JuneYao Dairy - 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 JuneYao Dairy Co to buy it.
Moving together with JuneYao Stock
| 0.74 | 600036 | China Merchants Bank | PairCorr |
| 0.66 | 601166 | Industrial Bank | PairCorr |
| 0.67 | 600000 | Shanghai Pudong Deve | PairCorr |
| 0.8 | 601628 | China Life Insurance | PairCorr |
| 0.78 | 601318 | Ping An Insurance | PairCorr |
| 0.71 | 601998 | China Citic Bank | PairCorr |
| 0.88 | 000555 | Digital China Information | PairCorr |
| 0.86 | 002371 | NAURA Technology | PairCorr |
| 0.95 | 603180 | Xiamen Goldenhome | PairCorr |
| 0.84 | 000839 | CITIC Guoan Information | PairCorr |
| 0.92 | 300074 | AVCON Information Tech | PairCorr |
| 0.93 | 600429 | Beijing Sanyuan Foods | PairCorr |
| 0.9 | 000042 | Shenzhen Centralcon | PairCorr |
| 0.85 | 600459 | Sino Platinum Metals | PairCorr |
| 0.83 | 605499 | Eastroc Beverage Split | PairCorr |
| 0.92 | 002491 | Tongding Interconnection | PairCorr |
| 0.87 | 002205 | XinJiang GuoTong Pipeline | PairCorr |
| 0.88 | 688019 | Anji Microelectronics | PairCorr |
| 0.65 | 688036 | Shenzhen Transsion | PairCorr |
| 0.9 | 688203 | Zhejiang HISUN Bioma | PairCorr |
| 0.8 | 301236 | iSoftStone Information | PairCorr |
| 0.88 | 600030 | CITIC Securities | PairCorr |
| 0.8 | 002429 | Shenzhen MTC | PairCorr |
| 0.78 | 600399 | Fushun Special Steel | PairCorr |
| 0.88 | 002995 | Beijing Quanshi World | PairCorr |
| 0.83 | 600711 | Chengtun Mining Group | PairCorr |
| 0.84 | 605577 | Heilongjiang Publishing | PairCorr |
| 0.83 | 300261 | Aba Chemicals Corp | PairCorr |
| 0.87 | 600996 | Guizhou BroadcastingTV | PairCorr |
| 0.88 | 601111 | Air China | PairCorr |
| 0.87 | 002941 | Xinjiang Communications | PairCorr |
| 0.8 | 688298 | Zhejiang Orient Gene | PairCorr |
| 0.93 | 601615 | Ming Yang Smart | PairCorr |
| 0.91 | 600512 | Tengda Construction | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between JuneYao Stock performing well and JuneYao Dairy 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 JuneYao Dairy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 600941 | 1.01 | (0.02) | (0.09) | (0.01) | 1.21 | 2.05 | 8.38 | |||
| 601288 | 1.26 | (0.03) | 0.00 | (0.45) | 0.00 | 3.21 | 8.24 | |||
| 601398 | 1.18 | (0.08) | 0.00 | (0.65) | 0.00 | 2.83 | 8.14 | |||
| 601668 | 2.11 | 0.06 | 0.00 | 0.22 | 2.56 | 5.25 | 15.78 | |||
| 601939 | 1.27 | (0.06) | 0.00 | (0.48) | 0.00 | 3.32 | 8.64 | |||
| 601857 | 1.41 | (0.12) | 0.00 | 0.90 | 0.00 | 3.43 | 17.17 | |||
| 600028 | 1.43 | (0.10) | 0.00 | (0.80) | 0.00 | 4.21 | 10.77 | |||
| 601988 | 1.19 | 0.06 | (0.06) | (0.07) | 1.48 | 2.67 | 7.70 |
Be your own money manager
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JuneYao Dairy Corporate Management
Elected by the shareholders, the JuneYao Dairy's board of directors comprises two types of representatives: JuneYao Dairy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of JuneYao. The board's role is to monitor JuneYao Dairy's management team and ensure that shareholders' interests are well served. JuneYao Dairy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, JuneYao Dairy's outside directors are responsible for providing unbiased perspectives on the board's policies.