Haier Smart Correlations

QIHCF Stock

USD 1.75 0.00 0.00%

The current 90-days correlation between Haier Smart Home and La Z Boy Incorporated is 0.28 (i.e., Modest diversification). The correlation of Haier Smart 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.

Haier Smart Correlation With Market

Significant diversification

The correlation between Haier Smart Home and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Haier Smart Home and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Haier Pink Sheet

0.63	TPX	Tempur Sealy Interna	Pair Corr
0.78	WHR	Whirlpool	Pair Corr
0.73	SEBYY	SEB SA	Pair Corr
0.71	STR	Sitio Royalties Corp	Pair Corr
0.82	BMYMP	Bristol Myers Squibb	Pair Corr
0.87	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.86	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.69	FDS	FactSet Research Systems	Pair Corr

Moving against Haier Pink Sheet

0.8	PPERY	Bank Mandiri Persero	Pair Corr
0.79	PBCRY	Bank Central Asia	Pair Corr
0.76	BKRKY	Bank Rakyat	Pair Corr
0.72	PPERF	Bank Mandiri Persero	Pair Corr
0.66	PTBRY	Bank Negara Indonesia	Pair Corr
0.62	SHG	Shinhan Financial	Pair Corr
0.6	BKRKF	PT Bank Rakyat	Pair Corr
0.57	SEBYF	SEB SA	Pair Corr
0.57	PBCRF	PT Bank Central	Pair Corr
0.54	MHK	Mohawk Industries	Pair Corr
0.54	SCTSF	Scottie Resources Corp	Pair Corr

Related Correlations Analysis

	LZB	MBC	MLKN	FLXS	SNBR	LEG	PRPL	MHK	LOVE	TPX
LZB		0.04	0.12	0.2	0.26	0.19	0.01	0.0	0.57	0.9	LZB
MBC	0.04		-0.54	0.17	0.32	0.63	-0.35	0.24	0.34	0.01	MBC
MLKN	0.12	-0.54		-0.56	0.32	0.05	0.82	0.37	-0.48	0.03	MLKN
FLXS	0.2	0.17	-0.56		-0.55	-0.43	-0.66	-0.79	0.81	0.18	FLXS
SNBR	0.26	0.32	0.32	-0.55		0.78	0.45	0.74	-0.32	0.25	SNBR
LEG	0.19	0.63	0.05	-0.43	0.78		0.28	0.71	-0.09	0.24	LEG
PRPL	0.01	-0.35	0.82	-0.66	0.45	0.28		0.46	-0.57	-0.05	PRPL
MHK	0.0	0.24	0.37	-0.79	0.74	0.71	0.46		-0.52	0.05	MHK
LOVE	0.57	0.34	-0.48	0.81	-0.32	-0.09	-0.57	-0.52		0.5	LOVE
TPX	0.9	0.01	0.03	0.18	0.25	0.24	-0.05	0.05	0.5		TPX
	LZB	MBC	MLKN	FLXS	SNBR	LEG	PRPL	MHK	LOVE	TPX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

TPX	+ 0.9	LZB
PRPL	+ 0.82	MLKN
LOVE	+ 0.81	FLXS
LEG	+ 0.78	SNBR
MHK	+ 0.74	SNBR
MHK	+ 0.71	LEG

High negative correlations

MHK	- 0.79	FLXS
PRPL	- 0.66	FLXS
LOVE	- 0.57	PRPL
FLXS	- 0.56	MLKN
SNBR	- 0.55	FLXS
MLKN	- 0.54	MBC

Risk-Adjusted Indicators

There is a big difference between Haier Pink Sheet performing well and Haier Smart 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 Haier Smart'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
LZB	1.32	0.06	0.03	0.19	1.58	(1.38)	3.19	(2.08)	9.21
MBC	1.74	0.06	0.02	0.19	1.91	(1.82)	4.01	(3.18)	9.66
MLKN	1.71	(0.38)	0.00	(0.13)	0.00	0.00	3.66	(2.94)	18.40
FLXS	2.08	0.54	0.24	1.06	1.61	(2.50)	5.14	(3.40)	33.56
SNBR	4.19	(0.16)	0.01	0.07	4.57	(4.79)	8.52	(7.23)	32.96
LEG	1.96	(0.12)	(0.05)	0.02	2.31	(2.26)	4.03	(4.19)	16.37
PRPL	2.75	(0.56)	0.00	(0.27)	0.00	0.00	5.81	(5.05)	18.50
MHK	1.40	(0.32)	0.00	(0.10)	0.00	0.00	2.70	(2.77)	18.13
LOVE	2.72	0.58	0.25	0.50	2.16	(3.26)	7.08	(4.37)	26.74
TPX	1.29	0.02	0.01	0.15	1.09	(1.72)	3.72	(1.87)	11.44

Be your own money manager

Our tools can tell you how much better you can do entering a position in Haier Smart 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 Stocks Directory Now

Stocks Directory

Find actively traded stocks across global markets

All Next

Launch Module

Haier Smart Corporate Management

Huagang Li	CEO Director	Profile
Miao Yu	Legal Board	Profile
Li Wang	VP	Profile
Guozhen Ming	Vice Board	Profile
Hai Liang	Ex Chairman	Profile
Ju Xie	Ex Chairman	Profile
Wei Gong	CFO VP	Profile

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