JIN MEDICAL Correlations

ZJYL Stock

0.72 0.02 3.24%

The current 90-days correlation between JIN MEDICAL INTERNATIONAL and Marchex is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as JIN MEDICAL moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if JIN MEDICAL INTERNATIONAL moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

JIN MEDICAL Correlation With Market

Average diversification

The correlation between JIN MEDICAL INTERNATIONAL and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JIN MEDICAL INTERNATIONAL and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in JIN MEDICAL INTERNATIONAL. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving against JIN Stock

0.48	LUCD	Lucid Diagnostics	Pair Corr
0.43	HIMS	Hims Hers Health Aggressive Push	Pair Corr
0.43	GOSS	Gossamer Bio	Pair Corr
0.37	TMDX	TransMedics Group	Pair Corr
0.33	PAVM	PAVmed Inc	Pair Corr
0.32	PLX	Protalix Biotherapeutics	Pair Corr
0.42	ABUS	Arbutus Biopharma Corp	Pair Corr
0.32	NVCT	Nuvectis Pharma	Pair Corr

Related Correlations Analysis

	WPP	CHR	MLCO	PEB-PH	MCHX	IAS	NCMI	PLYA
WPP		0.87	0.43	0.52	0.17	0.67	0.71	-0.57	WPP
CHR	0.87		0.33	0.64	0.24	0.7	0.81	-0.46	CHR
MLCO	0.43	0.33		0.0	0.22	0.24	0.3	-0.44	MLCO
PEB-PH	0.52	0.64	0.0		0.09	0.4	0.41	-0.46	PEB-PH
MCHX	0.17	0.24	0.22	0.09		0.38	0.21	-0.13	MCHX
IAS	0.67	0.7	0.24	0.4	0.38		0.75	-0.23	IAS
NCMI	0.71	0.81	0.3	0.41	0.21	0.75		-0.25	NCMI
PLYA	-0.57	-0.46	-0.44	-0.46	-0.13	-0.23	-0.25		PLYA
	WPP	CHR	MLCO	PEB-PH	MCHX	IAS	NCMI	PLYA

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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

CHR	+ 0.87	WPP
NCMI	+ 0.81	CHR
NCMI	+ 0.75	IAS
NCMI	+ 0.71	WPP
IAS	+ 0.7	CHR
IAS	+ 0.67	WPP

High negative correlations

PLYA	- 0.57	WPP
PLYA	- 0.46	PEB-PH
PLYA	- 0.46	CHR
PLYA	- 0.44	MLCO
PLYA	- 0.25	NCMI
PLYA	- 0.23	IAS

Risk-Adjusted Indicators

There is a big difference between JIN Stock performing well and JIN MEDICAL 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 JIN MEDICAL'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
WPP	1.34	(0.45)	0.00	(0.69)	0.00	0.00	2.13	(2.71)	18.63
CHR	2.57	(0.66)	0.00	(2.54)	0.00	0.00	4.73	(6.69)	21.19
MLCO	2.18	(0.20)	0.00	(0.22)	0.00	0.00	4.55	(4.66)	13.37
PEB-PH	1.14	(0.11)	0.00	(0.40)	0.00	0.00	2.04	(2.28)	10.53
MCHX	2.21	(0.24)	0.00	(0.24)	0.00	0.00	5.11	(4.32)	15.95
IAS	1.45	(0.20)	0.00	(0.18)	0.00	0.00	2.25	(3.51)	14.44
NCMI	2.13	(0.20)	0.00	(0.27)	0.00	0.00	3.88	(4.30)	26.39
PLYA	1.26	0.47	0.37	0.69	0.61	(1.63)	2.32	(1.53)	31.78

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