Shanghai Sanyou Correlations

Stocks . China . 
Stock . Shanghai Sanyou Medical
688085 Stock   21.82  0.08  0.37%   
The current 90-days correlation between Shanghai Sanyou Medical and Kweichow Moutai Co is 0.49 (i.e., Very weak diversification). The correlation of Shanghai Sanyou 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.

Shanghai Sanyou Correlation With Market

Good diversification

The correlation between Shanghai Sanyou Medical and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Sanyou Medical and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shanghai Sanyou could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shanghai Sanyou 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 Shanghai Sanyou - 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 Shanghai Sanyou Medical to buy it.

Moving together with Shanghai Stock

  0.86601628 China Life InsurancePairCorr
  0.83601059 Cinda SecuritiesPairCorr
  0.89688072 Piotech Inc APairCorr
  0.9601198 Dongxing SecPairCorr
  0.9688293 Shanghai OPM BiosciencesPairCorr
  0.88688126 National Silicon IndustryPairCorr
  0.92000504 Nanhua Bio MedicinePairCorr
  0.9688521 VeriSilicon MicroelectronicsPairCorr
  0.81300396 Dirui IndustrialPairCorr
  0.91900957 Shanghai Lingyun IndPairCorr
  0.63688036 Shenzhen TranssionPairCorr
  0.89000839 CITIC Guoan InformationPairCorr
  0.87301236 iSoftStone InformationPairCorr
  0.94688019 Anji MicroelectronicsPairCorr
  0.62601998 China Citic BankPairCorr
  0.71000598 Chengdu Xingrong InvPairCorr
  0.83002429 Shenzhen MTCPairCorr
  0.9002869 Shenzhen Genvict TecPairCorr
  0.94688203 Zhejiang HISUN BiomaPairCorr
  0.93301370 GKHT Medical TechnologyPairCorr
  0.86002941 Xinjiang CommunicationsPairCorr
  0.89603180 Xiamen GoldenhomePairCorr
  0.89605499 Eastroc Beverage SplitPairCorr
  0.64002822 Shenzhen ZhongzhuangPairCorr
  0.9000042 Shenzhen CentralconPairCorr
  0.82002792 Tongyu CommunicationPairCorr

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   
000596
+ 0.96
200596
002371
+ 0.95
300750
000596
+ 0.94
600519
200596
+ 0.93
600519
300760
+ 0.93
000596
300760
+ 0.92
600519
  
High negative correlations   
002371
- 0.04
688169

Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Sanyou 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 Shanghai Sanyou'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
600519  1.68  0.09  0.02  0.29  1.84 
(1.98)
 6.55 
(2.98)
 16.71 
300750  2.70  0.63  0.15 (20.91) 3.05 
(3.29)
 7.94 
(3.41)
 33.42 
603444  2.68  0.25  0.06  0.60  3.16 
(2.99)
 5.21 
(4.79)
 18.75 
688169  3.27  0.11  0.01  0.59  4.12 
(3.62)
 5.74 
(5.72)
 34.80 
002594  1.90  0.21  0.08  0.43  1.93 
(2.15)
 5.74 
(3.34)
 14.84 
200596  1.90  0.13  0.01  1.67  2.28 
(2.16)
 4.80 
(2.70)
 18.31 
000596  2.78  0.16  0.03  0.40  2.90 
(3.26)
 9.98 
(4.36)
 20.00 
002371  2.38  0.45  0.15  1.02  2.18 
(2.63)
 9.80 
(3.99)
 15.93 
300760  2.29  0.14  0.02  0.49  2.72 
(2.48)
 9.90 
(4.56)
 19.76 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanghai Sanyou 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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