Shanrong Biotechnology Correlations

SRBT Stock

USD 0.40 0.08 25.00%

The current 90-days correlation between Shanrong Biotechnology and Sinclair Broadcast Group is -0.08 (i.e., Good diversification). The correlation of Shanrong Biotechnology 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.

Shanrong Biotechnology Correlation With Market

Average diversification

The correlation between Shanrong Biotechnology Corp and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanrong Biotechnology Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shanrong Pink Sheet

0.61

FANUF

Fanuc

Pair Corr

Moving against Shanrong Pink Sheet

0.56	BOWL	Bowlero Corp Symbol Change	Pair Corr
0.4	ELRE	Yinfu Gold	Pair Corr
0.35	CSTM	Constellium Nv	Pair Corr

Related Correlations Analysis

	SBGI	AIQUF	PVARF	RIVN	CRSR	LI	BLDE	GNZUF
SBGI		-0.61	-0.72	0.68	-0.69	-0.54	0.73	0.31	SBGI
AIQUF	-0.61		0.21	-0.78	0.84	0.76	-0.82	-0.3	AIQUF
PVARF	-0.72	0.21		-0.33	0.36	0.36	-0.36	-0.13	PVARF
RIVN	0.68	-0.78	-0.33		-0.57	-0.66	0.83	0.3	RIVN
CRSR	-0.69	0.84	0.36	-0.57		0.71	-0.69	-0.36	CRSR
LI	-0.54	0.76	0.36	-0.66	0.71		-0.66	-0.01	LI
BLDE	0.73	-0.82	-0.36	0.83	-0.69	-0.66		0.28	BLDE
GNZUF	0.31	-0.3	-0.13	0.3	-0.36	-0.01	0.28		GNZUF
	SBGI	AIQUF	PVARF	RIVN	CRSR	LI	BLDE	GNZUF

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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

CRSR	+ 0.84	AIQUF
BLDE	+ 0.83	RIVN
LI	+ 0.76	AIQUF
BLDE	+ 0.73	SBGI
LI	+ 0.71	CRSR
RIVN	+ 0.68	SBGI

High negative correlations

BLDE	- 0.82	AIQUF
RIVN	- 0.78	AIQUF
PVARF	- 0.72	SBGI
BLDE	- 0.69	CRSR
CRSR	- 0.69	SBGI
BLDE	- 0.66	LI

Risk-Adjusted Indicators

There is a big difference between Shanrong Pink Sheet performing well and Shanrong Biotechnology 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 Shanrong Biotechnology'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
SBGI	1.90	(0.15)	0.00	(0.28)	0.00	0.00	4.35	(4.20)	10.71
AIQUF	1.16	0.24	0.24	2.29	1.17	(1.29)	2.81	(2.26)	6.71
PVARF	0.10	0.05	0.00	0.47	0.00	0.00	0.00	0.00	3.49
RIVN	3.21	(0.05)	0.00	(0.14)	0.00	0.00	6.57	(4.95)	32.24
CRSR	3.25	0.88	0.21	0.26	3.05	(3.73)	6.77	(5.67)	34.05
LI	3.28	0.44	0.13	0.85	3.62	(3.57)	7.00	(4.93)	24.14
BLDE	3.16	(0.36)	0.00	(0.33)	0.00	0.00	6.97	(7.05)	24.41
GNZUF	3.70	0.35	0.05	0.17	4.17	(7.01)	10.00	(7.89)	45.71

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanrong Biotechnology 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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