WuXi AppTec Correlations
| WUXIF Stock | USD 6.81 0.00 0.00% |
The current 90-days correlation between WuXi AppTec and Neuronetics is 0.07 (i.e., Significant diversification). The correlation of WuXi AppTec 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.
WuXi AppTec Correlation With Market
Average diversification
The correlation between WuXi AppTec Co and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WuXi AppTec Co and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to WuXi AppTec could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WuXi AppTec 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 WuXi AppTec - 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 WuXi AppTec Co to buy it.
Moving together with WuXi Pink Sheet
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| 0.79 | CRWD | Crowdstrike Holdings | PairCorr |
| 0.78 | WH | Wyndham Hotels Resorts | PairCorr |
| 0.81 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.77 | SQ | Block Inc | PairCorr |
| 0.86 | AKBTY | Akbank Turk Anonim | PairCorr |
| 0.78 | CRM | Salesforce | PairCorr |
| 0.71 | MA | Mastercard | PairCorr |
| 0.81 | SOFI | SoFi Technologies | PairCorr |
| 0.77 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.88 | AAPL | Apple Inc | PairCorr |
| 0.65 | PRMRF | Paramount Resources | PairCorr |
| 0.72 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
Moving against WuXi Pink Sheet
| 0.81 | HNHPF | Hon Hai Precision | PairCorr |
| 0.7 | IQV | IQVIA Holdings | PairCorr |
| 0.67 | DHR | Danaher | PairCorr |
| 0.67 | LZAGY | Lonza Group AG | PairCorr |
| 0.63 | TMO | Thermo Fisher Scientific | PairCorr |
| 0.59 | LZAGF | Lonza Group | PairCorr |
| 0.59 | VWAGY | Volkswagen AG 110 | PairCorr |
| 0.57 | VLKAF | Volkswagen AG | PairCorr |
| 0.56 | MTD | Mettler Toledo Inter | PairCorr |
| 0.54 | IDXX | IDEXX Laboratories | PairCorr |
| 0.54 | VWAPY | Volkswagen AG Pref | PairCorr |
| 0.52 | VLKPF | Volkswagen AG VZO | PairCorr |
| 0.77 | DPSTF | Deutsche Post AG | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between WuXi Pink Sheet performing well and WuXi AppTec 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 WuXi AppTec'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| STIM | 5.64 | 1.41 | 0.14 | (1.16) | 8.02 | 9.86 | 45.61 | |||
| INBS | 4.23 | (0.05) | 0.00 | (0.01) | 0.00 | 9.93 | 25.53 | |||
| BDSX | 2.77 | (0.18) | 0.00 | (0.54) | 0.00 | 6.67 | 27.19 | |||
| PRPO | 2.21 | (0.26) | 0.00 | 1.40 | 0.00 | 3.88 | 11.89 | |||
| PRPH | 4.57 | (1.10) | 0.00 | 0.54 | 0.00 | 6.67 | 53.53 | |||
| BIAFW | 10.81 | (1.22) | 0.00 | (0.52) | 0.00 | 25.00 | 96.67 | |||
| ARYC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RDNT | 1.83 | 0.11 | 0.05 | (0.48) | 1.88 | 2.97 | 24.47 | |||
| FONR | 1.36 | (0.08) | 0.00 | (0.11) | 0.00 | 1.89 | 13.34 | |||
| RSHN | 29.43 | 6.15 | 0.13 | (0.72) | 23.55 | 100.00 | 150.00 |
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