GEELY AUTOMOBILE Correlations

GRU Stock

EUR 2.06 0.09 4.19%

The current 90-days correlation between GEELY AUTOMOBILE and Kaufman Broad SA is 0.07 (i.e., Significant diversification). The correlation of GEELY AUTOMOBILE 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. If the correlation is 0, the equities are not correlated; they are entirely random.

GEELY AUTOMOBILE Correlation With Market

Average diversification

The correlation between GEELY AUTOMOBILE and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GEELY AUTOMOBILE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with GEELY Stock

0.77	E908	Lyxor 1	Pair Corr
0.8	DBPE	Xtrackers LevDAX	Pair Corr

Moving against GEELY Stock

0.84	PQ9	PT Bank Mandiri	Pair Corr
0.83	PQ9	BANK MANDIRI	Pair Corr
0.78	DBPD	Xtrackers ShortDAX	Pair Corr
0.7	MSF	Microsoft	Pair Corr
0.69	MSF	Microsoft	Pair Corr
0.69	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.63	BYRA	BANK RAKYAT IND	Pair Corr
0.61	BYRA	PT Bank Rakyat	Pair Corr
0.52	AMZ	Amazon Inc	Pair Corr
0.37	BYRA	PT Bank Rakyat	Pair Corr
0.34	BYRA	BANK RAKYAT IND	Pair Corr

Related Correlations Analysis

	3GH	63U	RNT	7RD	E6Q	4VGA	JAN	8N4
3GH		-0.32	-0.1	-0.42	0.5	0.39	0.15	-0.46	3GH
63U	-0.32		0.45	0.76	-0.49	-0.04	-0.79	0.59	63U
RNT	-0.1	0.45		0.37	-0.04	0.47	-0.54	0.49	RNT
7RD	-0.42	0.76	0.37		-0.76	-0.14	-0.61	0.73	7RD
E6Q	0.5	-0.49	-0.04	-0.76		0.49	0.27	-0.62	E6Q
4VGA	0.39	-0.04	0.47	-0.14	0.49		-0.38	-0.03	4VGA
JAN	0.15	-0.79	-0.54	-0.61	0.27	-0.38		-0.53	JAN
8N4	-0.46	0.59	0.49	0.73	-0.62	-0.03	-0.53		8N4
	3GH	63U	RNT	7RD	E6Q	4VGA	JAN	8N4

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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

7RD	+ 0.76	63U
8N4	+ 0.73	7RD
8N4	+ 0.59	63U
E6Q	+ 0.5	3GH
8N4	+ 0.49	RNT
4VGA	+ 0.49	E6Q

High negative correlations

JAN	- 0.79	63U
E6Q	- 0.76	7RD
8N4	- 0.62	E6Q
JAN	- 0.61	7RD
JAN	- 0.54	RNT
8N4	- 0.53	JAN

Risk-Adjusted Indicators

There is a big difference between GEELY Stock performing well and GEELY AUTOMOBILE 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 GEELY AUTOMOBILE'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
3GH	1.38	0.05	0.06	0.15	1.55	(1.61)	3.91	(2.41)	8.19
63U	2.11	(0.52)	0.00	(1.50)	0.00	0.00	7.69	(7.14)	27.78
RNT	2.20	(0.20)	0.00	0.33	0.00	0.00	5.56	(4.76)	13.68
7RD	2.25	(0.39)	0.00	(0.78)	0.00	0.00	4.80	(5.56)	19.48
E6Q	1.81	0.00	0.07	0.00	2.43	(1.81)	3.50	(4.11)	10.37
4VGA	1.28	(0.07)	0.00	(0.33)	0.00	0.00	2.70	(2.54)	11.14
JAN	1.70	0.35	0.24	(0.57)	1.47	(2.41)	4.92	(3.01)	18.21
8N4	2.05	(0.20)	0.00	(4.64)	0.00	0.00	3.67	(3.57)	14.64

Be your own money manager

Our tools can tell you how much better you can do entering a position in GEELY AUTOMOBILE 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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