Tian Ruixiang Correlations

TIRX Stock

USD 1.59 0.07 4.61%

The current 90-days correlation between Tian Ruixiang Holdings and Huize Holding is 0.27 (i.e., Modest diversification). The correlation of Tian Ruixiang 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.

Tian Ruixiang Correlation With Market

Average diversification

The correlation between Tian Ruixiang Holdings 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 Tian Ruixiang Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tian Ruixiang Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Tian Stock

0.73

RELI

Reliance Global Group

Pair Corr

Moving against Tian Stock

0.59	BRO	Brown Brown	Pair Corr
0.47	GSHD	Goosehead Insurance	Pair Corr
0.42	MMC	Marsh McLennan Companies	Pair Corr
0.41	AJG	Arthur J Gallagher	Pair Corr
0.41	AON	Aon PLC	Pair Corr
0.4	WTW	Willis Towers Watson	Pair Corr
0.57	CB	Chubb	Pair Corr
0.56	DB	Deutsche Bank AG	Pair Corr
0.65	LU	Lufax Holding	Pair Corr
0.45	LX	Lexinfintech Holdings	Pair Corr

Related Correlations Analysis

	RELIW	SLQT	GOCO	BRO	FANH	CRVL	ERIE	BRP	EHTH	HUIZ
RELIW		-0.03	-0.12	-0.5	0.0	0.14	-0.12	0.0	0.14	-0.24	RELIW
SLQT	-0.03		0.86	0.05	0.0	0.39	-0.55	0.0	0.77	0.09	SLQT
GOCO	-0.12	0.86		0.1	0.0	0.34	-0.47	0.0	0.75	0.25	GOCO
BRO	-0.5	0.05	0.1		0.0	-0.41	0.47	0.0	-0.4	0.32	BRO
FANH	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	FANH
CRVL	0.14	0.39	0.34	-0.41	0.0		-0.29	0.0	0.36	-0.19	CRVL
ERIE	-0.12	-0.55	-0.47	0.47	0.0	-0.29		0.0	-0.65	0.26	ERIE
BRP	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	BRP
EHTH	0.14	0.77	0.75	-0.4	0.0	0.36	-0.65	0.0		0.04	EHTH
HUIZ	-0.24	0.09	0.25	0.32	0.0	-0.19	0.26	0.0	0.04		HUIZ
	RELIW	SLQT	GOCO	BRO	FANH	CRVL	ERIE	BRP	EHTH	HUIZ

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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

GOCO	+ 0.86	SLQT
EHTH	+ 0.77	SLQT
EHTH	+ 0.75	GOCO
ERIE	+ 0.47	BRO
CRVL	+ 0.39	SLQT
EHTH	+ 0.36	CRVL

High negative correlations

EHTH	- 0.65	ERIE
ERIE	- 0.55	SLQT
BRO	- 0.5	RELIW
ERIE	- 0.47	GOCO
CRVL	- 0.41	BRO
EHTH	- 0.4	BRO

Risk-Adjusted Indicators

There is a big difference between Tian Stock performing well and Tian Ruixiang 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 Tian Ruixiang'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
RELIW	28.57	5.52	0.18	(0.78)	25.23	(37.62)	97.03	(45.90)	215.61
SLQT	4.28	0.73	0.14	0.61	4.58	(5.09)	7.77	(6.36)	47.58
GOCO	3.93	0.52	0.12	2.36	4.18	(4.31)	9.61	(5.80)	33.97
BRO	0.83	0.24	0.24	0.56	0.77	(0.89)	1.93	(1.45)	4.81
FANH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRVL	1.78	(0.07)	0.00	(0.08)	0.00	0.00	3.43	(4.37)	12.81
ERIE	1.49	(0.01)	0.00	(0.05)	0.00	0.00	3.22	(4.13)	11.24
BRP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EHTH	3.82	0.61	0.20	(1.09)	3.08	(5.12)	8.96	(6.03)	48.01
HUIZ	3.81	0.20	0.04	0.14	4.50	(4.50)	6.14	(8.05)	42.07

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