Shanghai Jin Correlations

900934 Stock

1.56 0.02 1.27%

The current 90-days correlation between Shanghai Jin Jiang and V V Food is 0.29 (i.e., Modest diversification). The correlation of Shanghai Jin 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 Jin Correlation With Market

Good diversification

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

The ability to find closely correlated positions to Shanghai Jin 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 Jin 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 Jin - 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 Jin Jiang to buy it.

Moving together with Shanghai Stock

0.64

300841

Chengdu Kanghua Biol

Pair Corr

Moving against Shanghai Stock

0.61	300866	Anker Innovations	Pair Corr
0.36	601398	Industrial and Commercial Earnings Call This Week	Pair Corr
0.36	601988	Bank of China Limited Earnings Call This Week	Pair Corr
0.33	002901	Double Medical Technology	Pair Corr

Related Correlations Analysis

	002901	600300	001318	002956	600429	688108	300892
002901		-0.06	-0.1	-0.07	-0.38	0.25	-0.24	002901
600300	-0.06		0.68	0.66	0.83	0.69	0.73	600300
001318	-0.1	0.68		0.48	0.59	0.49	0.55	001318
002956	-0.07	0.66	0.48		0.6	0.27	0.51	002956
600429	-0.38	0.83	0.59	0.6		0.43	0.88	600429
688108	0.25	0.69	0.49	0.27	0.43		0.47	688108
300892	-0.24	0.73	0.55	0.51	0.88	0.47		300892
	002901	600300	001318	002956	600429	688108	300892

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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

300892	+ 0.88	600429
600429	+ 0.83	600300
300892	+ 0.73	600300
688108	+ 0.69	600300
001318	+ 0.68	600300
002956	+ 0.66	600300

High negative correlations

600429	- 0.38	002901
300892	- 0.24	002901
001318	- 0.1	002901
002956	- 0.07	002901
600300	- 0.06	002901

Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Jin 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 Jin'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
002901	1.28	0.05	0.08	0.30	1.27	(1.51)	3.30	(1.92)	12.25
600300	2.16	0.07	0.06	(0.29)	2.60	(2.66)	4.90	(4.00)	18.84
001318	2.17	0.40	0.15	0.56	2.42	(2.53)	9.97	(5.52)	11.97
002956	2.15	0.17	0.10	(2.95)	2.26	(2.46)	5.24	(3.58)	16.25
600429	1.72	(0.08)	0.00	0.13	0.00	0.00	3.20	(3.36)	17.58
688108	1.87	(0.03)	0.00	0.86	0.00	0.00	3.77	(3.77)	11.90
300892	3.07	(0.30)	0.00	(0.46)	0.00	0.00	5.03	(7.43)	23.18

Be your own money manager

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