Nanya New Correlations

688519 Stock

30.14 0.40 1.34%

The current 90-days correlation between Nanya New Material and Wuxi Dk Electronic is 0.19 (i.e., Average diversification). The correlation of Nanya New 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.

Nanya New Correlation With Market

Significant diversification

The correlation between Nanya New Material and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nanya New Material and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nanya Stock

0.62	600036	China Merchants Bank	Pair Corr
0.61	601166	Industrial Bank	Pair Corr

Moving against Nanya Stock

0.65	601857	PetroChina	Pair Corr
0.31	601628	China Life Insurance	Pair Corr

Related Correlations Analysis

	300842	301123	301293	300672	002119	300852	508068
300842		-0.05	0.68	0.63	-0.12	0.24	-0.43	300842
301123	-0.05		0.14	0.38	0.85	0.63	0.72	301123
301293	0.68	0.14		0.84	0.03	0.59	-0.09	301293
300672	0.63	0.38	0.84		0.29	0.77	0.18	300672
002119	-0.12	0.85	0.03	0.29		0.66	0.83	002119
300852	0.24	0.63	0.59	0.77	0.66		0.64	300852
508068	-0.43	0.72	-0.09	0.18	0.83	0.64		508068
	300842	301123	301293	300672	002119	300852	508068

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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

002119	+ 0.85	301123
300672	+ 0.84	301293
508068	+ 0.83	002119
300852	+ 0.77	300672
508068	+ 0.72	301123
301293	+ 0.68	300842

High negative correlations

508068	- 0.43	300842
002119	- 0.12	300842
508068	- 0.09	301293
301123	- 0.05	300842

Risk-Adjusted Indicators

There is a big difference between Nanya Stock performing well and Nanya New 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 Nanya New'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
300842	1.77	0.18	0.11	0.45	2.04	(1.93)	3.82	(3.29)	11.82
301123	3.19	0.40	0.15	(0.73)	3.44	(3.75)	6.75	(6.24)	31.05
301293	2.36	0.19	0.11	(0.48)	2.73	(2.46)	5.03	(5.14)	19.17
300672	2.52	0.44	0.18	3.58	2.46	(2.83)	6.13	(5.08)	17.42
002119	2.92	0.52	0.18	(3.55)	2.98	(3.28)	6.98	(6.12)	19.09
300852	2.72	0.67	0.23	0.85	2.65	(3.30)	7.12	(5.24)	16.61
508068	0.94	0.33	0.36	2.44	0.62	(1.20)	2.89	(1.52)	7.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nanya New 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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Nanya New Corporate Management

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

Xinyang Bao	General Manager	Profile
Liu Zhang	Board Secretary	Profile
Kuidong Xi	Deputy Manager	Profile
Wei Li	Deputy Manager	Profile
Donghai Wang	Accounting Supervisor	Profile

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