ZIJIN MINH Correlations

FJZB Stock

EUR 38.00 2.20 5.47%

The current 90-days correlation between ZIJIN MINH UNSPADR20 and CompuGroup Medical SE is -0.25 (i.e., Very good diversification). The correlation of ZIJIN MINH 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.

ZIJIN MINH Correlation With Market

Good diversification

The correlation between ZIJIN MINH UNSPADR20 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 ZIJIN MINH UNSPADR20 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ZIJIN MINH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ZIJIN MINH 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 ZIJIN MINH - 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 ZIJIN MINH UNSPADR20 to buy it.

Moving together with ZIJIN Stock

0.8	NMM	Newmont	Pair Corr
0.74	ABR	Barrick Gold	Pair Corr
0.82	3FO	Franco Nevada	Pair Corr
0.79	AE9	Agnico Eagle Mines	Pair Corr
0.76	SII	Wheaton Precious Metals	Pair Corr
0.62	ICKB	INDCOMMBK CHINA ADR20 Earnings Call Today	Pair Corr
0.62	ROM	Rohm Co	Pair Corr
0.69	3RE	Rejlerkoncernen AB	Pair Corr
0.61	TLLB	Trelleborg AB	Pair Corr
0.61	MRG	Outcrop Silver Gold	Pair Corr
0.67	E908	Lyxor 1	Pair Corr
0.68	DBPE	Xtrackers LevDAX	Pair Corr

Moving against ZIJIN Stock

0.6	LGLG	LG Electronics	Pair Corr
0.68	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	COP	I8M	CEK	QBI	4JF	2M7C	DDN
COP		0.57	0.28	-0.61	-0.55	0.08	0.51	COP
I8M	0.57		0.64	-0.61	-0.66	0.51	0.3	I8M
CEK	0.28	0.64		-0.29	-0.48	0.5	-0.16	CEK
QBI	-0.61	-0.61	-0.29		0.5	-0.15	-0.63	QBI
4JF	-0.55	-0.66	-0.48	0.5		-0.1	-0.15	4JF
2M7C	0.08	0.51	0.5	-0.15	-0.1		0.12	2M7C
DDN	0.51	0.3	-0.16	-0.63	-0.15	0.12		DDN
	COP	I8M	CEK	QBI	4JF	2M7C	DDN

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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

CEK	+ 0.64	I8M
I8M	+ 0.57	COP
DDN	+ 0.51	COP
2M7C	+ 0.51	I8M
2M7C	+ 0.5	CEK
4JF	+ 0.5	QBI

High negative correlations

4JF	- 0.66	I8M
DDN	- 0.63	QBI
QBI	- 0.61	I8M
QBI	- 0.61	COP
4JF	- 0.55	COP
4JF	- 0.48	CEK

Risk-Adjusted Indicators

There is a big difference between ZIJIN Stock performing well and ZIJIN MINH 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 ZIJIN MINH'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
COP	0.59	0.07	0.12	2.17	0.68	(0.73)	1.99	(1.30)	4.83
I8M	1.47	0.24	0.14	0.64	1.64	(1.67)	3.25	(2.52)	9.11
CEK	2.85	0.72	0.18	4.59	3.24	(3.49)	11.11	(5.08)	28.29
QBI	0.30	(0.16)	0.00	(1.33)	0.00	0.00	0.00	(2.00)	4.26
4JF	2.19	(0.08)	0.00	(0.22)	0.00	0.00	4.04	(5.15)	13.94
2M7C	1.56	(0.02)	0.00	(0.17)	0.00	0.00	4.26	(3.30)	9.70
DDN	1.40	0.26	0.20	0.89	1.15	(1.71)	3.43	(2.63)	18.19

Be your own money manager

Our tools can tell you how much better you can do entering a position in ZIJIN MINH 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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