360 Finance Correlations

QFIN Stock

USD 46.02 1.64 3.44%

The current 90-days correlation between 360 Finance and Aviat Networks is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 360 Finance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 360 Finance moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

360 Finance Correlation With Market

Modest diversification

The correlation between 360 Finance and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 360 Finance and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in 360 Finance. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

To learn how to invest in 360 Stock, please use our How to Invest in 360 Finance guide.

Moving together with 360 Stock

0.7	V	Visa Class A Sell-off Trend	Pair Corr
0.72	TWO	Two Harbors Investments	Pair Corr
0.64	BK	Bank of New York	Pair Corr
0.68	DB	Deutsche Bank AG	Pair Corr
0.69	GL	Globe Life	Pair Corr

Moving against 360 Stock

0.58	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.44	DHIL	Diamond Hill Investment	Pair Corr
0.43	WD	Walker Dunlop	Pair Corr
0.41	BX	Blackstone Group Normal Trading	Pair Corr
0.33	AX	Axos Financial	Pair Corr
0.59	LC	LendingClub Corp Sell-off Trend	Pair Corr
0.46	WT	WisdomTree	Pair Corr
0.43	CM	Canadian Imperial Bank	Pair Corr
0.41	EG	Everest Group	Pair Corr
0.36	KB	KB Financial Group	Pair Corr

Related Correlations Analysis

	AVNW	ATEC	GRMN	CODA	AQST	EYE	VPG
AVNW		0.54	0.53	-0.19	-0.45	0.52	0.38	AVNW
ATEC	0.54		0.59	0.09	-0.5	0.34	0.06	ATEC
GRMN	0.53	0.59		-0.13	-0.49	0.59	0.36	GRMN
CODA	-0.19	0.09	-0.13		0.6	-0.51	0.36	CODA
AQST	-0.45	-0.5	-0.49	0.6		-0.47	0.33	AQST
EYE	0.52	0.34	0.59	-0.51	-0.47		0.21	EYE
VPG	0.38	0.06	0.36	0.36	0.33	0.21		VPG
	AVNW	ATEC	GRMN	CODA	AQST	EYE	VPG

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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

AQST	+ 0.6	CODA
GRMN	+ 0.59	ATEC
EYE	+ 0.59	GRMN
ATEC	+ 0.54	AVNW
GRMN	+ 0.53	AVNW
EYE	+ 0.52	AVNW

High negative correlations

EYE	- 0.51	CODA
AQST	- 0.5	ATEC
AQST	- 0.49	GRMN
EYE	- 0.47	AQST
AQST	- 0.45	AVNW
CODA	- 0.19	AVNW

Risk-Adjusted Indicators

There is a big difference between 360 Stock performing well and 360 Finance 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 360 Finance'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
AVNW	2.52	0.35	0.11	0.15	2.64	(3.01)	5.24	(4.90)	34.98
ATEC	2.65	0.11	0.03	0.02	3.24	(2.76)	5.65	(5.59)	17.14
GRMN	1.30	0.02	0.00	(0.06)	0.00	0.00	2.13	(2.70)	17.98
CODA	1.74	(0.38)	0.00	(1.23)	0.00	0.00	4.27	(3.92)	11.73
AQST	3.32	(0.21)	0.00	(0.26)	0.00	0.00	6.94	(7.48)	21.67
EYE	2.23	0.21	0.08	0.11	2.57	(2.44)	4.71	(4.45)	16.13
VPG	1.66	(0.05)	0.00	(0.12)	0.00	0.00	3.57	(3.34)	14.71

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