Beijing Baolande Correlations

688058 Stock

24.69 1.80 6.80%

The current 90-days correlation between Beijing Baolande Software and BYD Co Ltd is 0.44 (i.e., Very weak diversification). The correlation of Beijing Baolande 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.

Beijing Baolande Correlation With Market

Significant diversification

The correlation between Beijing Baolande Software and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Baolande Software and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Beijing Stock

0.54	601328	Bank of Communications	Pair Corr
0.42	601166	Industrial Bank	Pair Corr
0.41	601288	Agricultural Bank	Pair Corr
0.41	601988	Bank of China	Pair Corr
0.38	601398	Industrial and Commercial	Pair Corr
0.37	000729	Beijing Yanjing Brewery	Pair Corr
0.34	601658	Postal Savings Bank	Pair Corr
0.32	601939	China Construction Bank	Pair Corr
0.32	601998	China Citic Bank	Pair Corr

Related Correlations Analysis

	002594	600941	601288	601398	601668	601939	601857	600028	601988	601390
002594		-0.36	-0.43	-0.41	0.69	-0.3	0.17	0.17	-0.5	0.56	002594
600941	-0.36		0.88	0.92	-0.31	0.87	0.74	0.6	0.92	-0.31	600941
601288	-0.43	0.88		0.98	-0.19	0.97	0.66	0.46	0.98	-0.29	601288
601398	-0.41	0.92	0.98		-0.25	0.96	0.69	0.47	0.98	-0.28	601398
601668	0.69	-0.31	-0.19	-0.25		-0.08	0.11	0.13	-0.28	0.79	601668
601939	-0.3	0.87	0.97	0.96	-0.08		0.67	0.43	0.94	-0.17	601939
601857	0.17	0.74	0.66	0.69	0.11	0.67		0.87	0.65	-0.07	601857
600028	0.17	0.6	0.46	0.47	0.13	0.43	0.87		0.46	-0.1	600028
601988	-0.5	0.92	0.98	0.98	-0.28	0.94	0.65	0.46		-0.29	601988
601390	0.56	-0.31	-0.29	-0.28	0.79	-0.17	-0.07	-0.1	-0.29		601390
	002594	600941	601288	601398	601668	601939	601857	600028	601988	601390

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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

601398	+ 0.98	601288
601988	+ 0.98	601288
601988	+ 0.98	601398
601939	+ 0.97	601288
601939	+ 0.96	601398
601988	+ 0.94	601939

High negative correlations

601988	- 0.5	002594
601288	- 0.43	002594
601398	- 0.41	002594
600941	- 0.36	002594
601390	- 0.31	600941
601668	- 0.31	600941

Risk-Adjusted Indicators

There is a big difference between Beijing Stock performing well and Beijing Baolande 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 Beijing Baolande'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
002594	1.71	0.02	0.01	0.13	2.20	(1.85)	5.33	(4.05)	14.84
600941	1.07	0.13	0.09	(1.85)	1.10	(1.31)	2.43	(2.15)	8.38
601288	1.04	0.08	0.04	0.70	1.34	(1.07)	2.20	(2.19)	6.76
601398	1.07	0.12	0.09	1.76	1.09	(1.39)	2.60	(1.73)	7.05
601668	1.70	0.02	0.00	0.06	2.48	(1.73)	5.12	(3.67)	15.78
601939	1.07	0.09	0.05	0.63	1.33	(1.21)	1.86	(2.12)	8.64
601857	1.30	0.09	0.04	2.53	1.87	(1.69)	3.43	(2.01)	17.17
600028	1.12	(0.04)	0.00	(0.46)	0.00	0.00	2.27	(1.89)	10.77
601988	0.96	0.10	0.07	0.73	1.08	(1.17)	2.39	(2.33)	6.70
601390	1.75	0.05	0.01	0.32	2.36	(1.92)	4.41	(3.57)	17.45

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Our tools can tell you how much better you can do entering a position in Beijing Baolande 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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