Jiangsu Bioperfectus Correlations

688399 Stock

70.20 0.17 0.24%

The current 90-days correlation between Jiangsu Bioperfectus and PetroChina Co Ltd is 0.48 (i.e., Very weak diversification). The correlation of Jiangsu Bioperfectus 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.

Jiangsu Bioperfectus Correlation With Market

Good diversification

The correlation between Jiangsu Bioperfectus Technolog and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Bioperfectus Technolog and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	601857	600941	600938	601318	600028	601728	601668	600519	601088	601628
601857		0.58	0.86	-0.03	0.89	0.01	0.23	0.23	0.65	-0.14	601857
600941	0.58		0.72	0.43	0.57	0.52	0.56	0.58	0.76	0.35	600941
600938	0.86	0.72		0.32	0.77	0.27	0.46	0.43	0.81	0.2	600938
601318	-0.03	0.43	0.32		-0.24	0.92	0.92	0.88	0.55	0.98	601318
600028	0.89	0.57	0.77	-0.24		-0.16	-0.02	0.01	0.56	-0.32	600028
601728	0.01	0.52	0.27	0.92	-0.16		0.9	0.86	0.59	0.91	601728
601668	0.23	0.56	0.46	0.92	-0.02	0.9		0.88	0.68	0.86	601668
600519	0.23	0.58	0.43	0.88	0.01	0.86	0.88		0.65	0.85	600519
601088	0.65	0.76	0.81	0.55	0.56	0.59	0.68	0.65		0.46	601088
601628	-0.14	0.35	0.2	0.98	-0.32	0.91	0.86	0.85	0.46		601628
	601857	600941	600938	601318	600028	601728	601668	600519	601088	601628

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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

601628	+ 0.98	601318
601728	+ 0.92	601318
601668	+ 0.92	601318
601628	+ 0.91	601728
601668	+ 0.9	601728
600028	+ 0.89	601857

High negative correlations

601628	- 0.32	600028
600028	- 0.24	601318
601728	- 0.16	600028
601628	- 0.14	601857
601318	- 0.03	601857
601668	- 0.02	600028

Risk-Adjusted Indicators

There is a big difference between Jiangsu Stock performing well and Jiangsu Bioperfectus 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 Jiangsu Bioperfectus' 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
601857	1.41	(0.12)	0.00	0.89	0.00	0.00	3.43	(3.33)	17.17
600941	1.01	0.01	(0.08)	0.16	1.15	(1.15)	2.05	(2.04)	8.38
600938	1.57	(0.02)	0.00	0.21	0.00	0.00	3.25	(3.62)	16.49
601318	1.84	0.33	0.11	0.79	1.85	(2.30)	5.83	(2.83)	19.77
600028	1.44	(0.08)	0.00	(0.52)	0.00	0.00	4.21	(3.26)	10.77
601728	1.48	0.08	0.00	0.37	1.77	(1.65)	3.49	(2.81)	11.12
601668	2.12	0.05	0.00	0.22	2.56	(2.39)	5.25	(3.97)	15.78
600519	1.69	0.08	0.00	0.29	1.87	(1.99)	6.55	(2.98)	16.71
601088	1.53	0.02	(0.06)	(0.59)	1.73	(1.66)	3.35	(2.37)	10.24
601628	2.04	0.43	0.13	1.02	2.34	(2.32)	6.42	(3.18)	20.00

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Our tools can tell you how much better you can do entering a position in Jiangsu Bioperfectus 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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