Hangzhou EZVIZ Correlations

688475 Stock

37.06 0.70 1.85%

The current 90-days correlation between Hangzhou EZVIZ Network and Southern PublishingMedia Co is 0.08 (i.e., Significant diversification). The correlation of Hangzhou EZVIZ 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.

Hangzhou EZVIZ Correlation With Market

Good diversification

The correlation between Hangzhou EZVIZ Network and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou EZVIZ Network and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hangzhou Stock

0.7	300354	DongHua Testing Tech	Pair Corr
0.67	300530	Hunan Lead Power	Pair Corr
0.69	605117	Ningbo Deye Technology	Pair Corr
0.9	300674	Yusys Technologies	Pair Corr
0.85	002630	China Western Power	Pair Corr
0.78	300940	Shen Zhen Australis	Pair Corr
0.62	605118	Xiamen Leading Optics	Pair Corr

Moving against Hangzhou Stock

0.89	601857	PetroChina Earnings Call Today	Pair Corr
0.82	600028	China Petroleum Chemical	Pair Corr
0.65	601668	China State Construction	Pair Corr
0.57	601186	China Railway Constr	Pair Corr
0.51	601390	China Railway Group Earnings Call This Week	Pair Corr
0.38	600941	China Mobile Limited	Pair Corr

Related Correlations Analysis

	601929	601900	688670	603077	300756	688276	300958	300871
601929		0.27	0.86	0.55	0.55	0.6	0.87	0.79	601929
601900	0.27		0.2	0.12	0.28	0.01	0.23	0.33	601900
688670	0.86	0.2		0.84	0.27	0.85	0.88	0.59	688670
603077	0.55	0.12	0.84		-0.22	0.94	0.61	0.15	603077
300756	0.55	0.28	0.27	-0.22		-0.12	0.53	0.76	300756
688276	0.6	0.01	0.85	0.94	-0.12		0.65	0.23	688276
300958	0.87	0.23	0.88	0.61	0.53	0.65		0.83	300958
300871	0.79	0.33	0.59	0.15	0.76	0.23	0.83		300871
	601929	601900	688670	603077	300756	688276	300958	300871

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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

688276	+ 0.94	603077
300958	+ 0.88	688670
300958	+ 0.87	601929
688670	+ 0.86	601929
688276	+ 0.85	688670
603077	+ 0.84	688670

High negative correlations

300756	- 0.22	603077
688276	- 0.12	300756

Risk-Adjusted Indicators

There is a big difference between Hangzhou Stock performing well and Hangzhou EZVIZ 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 Hangzhou EZVIZ'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
601929	2.93	(0.35)	0.00	0.88	0.00	0.00	7.19	(7.22)	19.34
601900	1.55	(0.05)	0.00	0.12	0.00	0.00	3.33	(2.63)	8.82
688670	1.95	(0.39)	0.00	0.81	0.00	0.00	3.35	(4.39)	11.84
603077	0.94	(0.36)	0.00	2.92	0.00	0.00	1.09	(2.59)	5.71
300756	1.68	0.02	0.03	1.26	2.70	(1.45)	4.19	(3.57)	10.22
688276	1.35	(0.33)	0.00	0.84	0.00	0.00	2.44	(2.95)	7.08
300958	1.28	(0.12)	0.00	(5.16)	0.00	0.00	2.21	(3.49)	9.62
300871	1.91	0.00	0.03	(0.04)	2.63	(1.98)	4.24	(3.89)	13.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hangzhou EZVIZ 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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