Loongson Technology Correlations

688047 Stock

125.22 1.17 0.94%

The current 90-days correlation between Loongson Technology Corp and Hubei Xingfa Chemicals is 0.14 (i.e., Average diversification). The correlation of Loongson Technology 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.

Loongson Technology Correlation With Market

Good diversification

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

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

Moving together with Loongson Stock

0.66

601318

Ping An Insurance

Pair Corr

Moving against Loongson Stock

0.53	603959	Hunan Baili Engineering	Pair Corr
0.34	600000	Shanghai Pudong Deve	Pair Corr

Related Correlations Analysis

	600141	600901	200468	002465	000635	600198	300261	000402
600141		0.14	0.05	0.58	0.49	0.26	0.66	-0.03	600141
600901	0.14		-0.04	-0.5	0.13	-0.25	0.19	0.28	600901
200468	0.05	-0.04		0.42	0.41	0.56	0.2	0.36	200468
002465	0.58	-0.5	0.42		0.5	0.63	0.48	0.01	002465
000635	0.49	0.13	0.41	0.5		0.73	0.78	0.58	000635
600198	0.26	-0.25	0.56	0.63	0.73		0.63	0.62	600198
300261	0.66	0.19	0.2	0.48	0.78	0.63		0.47	300261
000402	-0.03	0.28	0.36	0.01	0.58	0.62	0.47		000402
	600141	600901	200468	002465	000635	600198	300261	000402

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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

300261	+ 0.78	000635
600198	+ 0.73	000635
300261	+ 0.66	600141
600198	+ 0.63	002465
300261	+ 0.63	600198
000402	+ 0.62	600198

High negative correlations

002465	- 0.5	600901
600198	- 0.25	600901
200468	- 0.04	600901
000402	- 0.03	600141

Risk-Adjusted Indicators

There is a big difference between Loongson Stock performing well and Loongson Technology 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 Loongson Technology'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
600141	1.18	0.03	0.04	(0.32)	1.46	(1.25)	2.77	(2.11)	9.05
600901	0.87	0.03	0.05	0.55	0.99	(1.06)	2.04	(1.97)	4.84
200468	2.09	(0.12)	0.00	(0.18)	0.00	0.00	6.20	(5.01)	16.40
002465	1.61	(0.05)	0.00	0.71	0.00	0.00	3.29	(3.77)	11.78
000635	1.88	0.06	0.03	1.85	2.88	(1.74)	3.32	(3.69)	19.91
600198	2.53	(0.42)	0.00	(2.35)	0.00	0.00	6.17	(7.03)	19.94
300261	1.88	(0.02)	0.00	0.08	0.00	0.00	4.81	(3.70)	11.46
000402	1.66	(0.37)	0.00	2.19	0.00	0.00	2.36	(4.12)	9.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Loongson Technology 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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