Road Environment Correlations

688156 Stock

13.30 0.03 0.23%

The current 90-days correlation between Road Environment Tec and CareRay Digital Medical is 0.86 (i.e., Very poor diversification). The correlation of Road Environment 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.

Road Environment Correlation With Market

Significant diversification

The correlation between Road Environment Technology and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Road Environment Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Road Stock

0.95	601628	China Life Insurance	Pair Corr
0.92	601059	Cinda Securities	Pair Corr
0.89	688072	Piotech Inc A	Pair Corr
0.93	601198	Dongxing Sec	Pair Corr
0.88	688293	Shanghai OPM Biosciences	Pair Corr
0.94	688126	National Silicon Industry	Pair Corr
0.88	000504	Nanhua Bio Medicine	Pair Corr
0.93	688521	VeriSilicon Microelectronics	Pair Corr
0.9	300396	Dirui Industrial	Pair Corr

Related Correlations Analysis

	688607	002551	603043	605266	002950	002219	600499	002173
688607		0.97	0.9	0.9	0.9	0.94	0.93	0.92	688607
002551	0.97		0.88	0.89	0.92	0.94	0.94	0.91	002551
603043	0.9	0.88		0.85	0.77	0.85	0.9	0.85	603043
605266	0.9	0.89	0.85		0.83	0.83	0.89	0.88	605266
002950	0.9	0.92	0.77	0.83		0.88	0.89	0.79	002950
002219	0.94	0.94	0.85	0.83	0.88		0.88	0.87	002219
600499	0.93	0.94	0.9	0.89	0.89	0.88		0.87	600499
002173	0.92	0.91	0.85	0.88	0.79	0.87	0.87		002173
	688607	002551	603043	605266	002950	002219	600499	002173

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Road Stock performing well and Road Environment 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 Road Environment'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
688607	2.44	0.77	0.21	(2.69)	2.30	(2.64)	5.33	(4.51)	19.31
002551	2.52	0.82	0.20	(1.35)	2.66	(2.85)	6.43	(4.28)	19.67
603043	1.84	0.21	0.06	0.66	2.02	(2.27)	4.19	(3.00)	18.46
605266	3.58	0.64	0.14	(1.99)	3.19	(4.26)	10.00	(5.30)	20.03
002950	2.29	0.59	0.16	(6.30)	2.50	(2.65)	6.54	(4.61)	19.86
002219	3.08	0.89	0.23	1.94	2.82	(3.47)	10.00	(5.43)	18.08
600499	2.15	0.51	0.13	(0.69)	2.50	(2.36)	4.41	(3.50)	17.09
002173	2.94	0.77	0.15	6.43	3.90	(3.01)	6.93	(6.37)	19.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in Road Environment 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.

Did you try this?

Run Money Flow Index Now

Money Flow Index

Determine momentum by analyzing Money Flow Index and other technical indicators

All Next

Launch Module

Road Environment Corporate Management

Elected by the shareholders, the Road Environment's board of directors comprises two types of representatives: Road Environment inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Road. The board's role is to monitor Road Environment's management team and ensure that shareholders' interests are well served. Road Environment'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, Road Environment's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jun Wu	Deputy Manager	Profile
Jian Yang	Deputy Department	Profile
Jianhua Hu	Deputy Manager	Profile
Jing Liu	Board GM	Profile
Jianzhong Liu	Quality Development	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC