Shanghai Lingyun Correlations

Stocks . China . 
Stock . Shanghai Lingyun Industries
900957 Stock   0.32  0.01  3.03%   
The current 90-days correlation between Shanghai Lingyun Ind and Lander Sports Development is 0.07 (i.e., Significant diversification). The correlation of Shanghai Lingyun 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.
  
The ability to find closely correlated positions to Shanghai Lingyun 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 Lingyun 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 Lingyun - 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 Lingyun Industries to buy it.

Moving together with Shanghai Stock

  0.62300750 Contemporary AmperexPairCorr
  0.69300760 Shenzhen Mindray BioPairCorr
  0.7601069 Western GoldPairCorr
  0.66002734 Limin ChemicalPairCorr

Moving against Shanghai Stock

  0.76688800 Suzhou Recodeal IntePairCorr
  0.4002899 Impulse Qingdao HealthPairCorr
  0.33300866 Anker InnovationsPairCorr
  0.31688766 Puya SemiconductorPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
300027
+ 0.78
600131
002148
+ 0.7
000558
002148
+ 0.51
603096
300027
+ 0.37
000558
002148
+ 0.34
600368
002148
+ 0.3
300027
  
High negative correlations   
600368
- 0.53
600131
600368
- 0.36
300027
603096
- 0.3
600131
002148
- 0.13
600131

Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Lingyun 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 Lingyun'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanghai Lingyun 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 AI Portfolio Architect Now

   

AI Portfolio Architect

Use AI to generate optimal portfolios and find profitable investment opportunities
All  Next Launch Module
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
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY