ChengDu Hi Correlations
| 000628 Stock | 57.31 5.21 10.00% |
The current 90-days correlation between ChengDu Hi Tech and China Greatwall Computer is 0.48 (i.e., Very weak diversification). The correlation of ChengDu Hi 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.
ChengDu Hi Correlation With Market
Poor diversification
The correlation between ChengDu Hi Tech Development and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChengDu Hi Tech Development and DJI in the same portfolio, assuming nothing else is changed.
ChengDu |
The ability to find closely correlated positions to ChengDu Hi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ChengDu Hi 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 ChengDu Hi - 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 ChengDu Hi Tech Development to buy it.
Moving together with ChengDu Stock
| 0.88 | 600236 | Guangxi Guiguan Electric | PairCorr |
| 0.67 | 601857 | PetroChina | PairCorr |
| 0.93 | 603057 | Shanghai Ziyan Foods | PairCorr |
| 0.84 | 002379 | Shandong Hongchuang | PairCorr |
| 0.61 | 301177 | DR Limited | PairCorr |
| 0.79 | 688498 | Yuanjie Semiconductor | PairCorr |
| 0.7 | 600256 | Guanghui Energy | PairCorr |
| 0.76 | 000975 | Yintai Resources | PairCorr |
| 0.64 | 001338 | GDH Supertime Group | PairCorr |
| 0.73 | 000726 | Lu Thai Textile | PairCorr |
| 0.74 | 000786 | Beijing New Building | PairCorr |
| 0.8 | 300433 | Lens Technology | PairCorr |
| 0.79 | 300624 | Wondershare Technology | PairCorr |
| 0.8 | 600761 | Anhui Heli | PairCorr |
| 0.73 | 001215 | Zhengzhou Qianweiyangchu | PairCorr |
| 0.8 | 600486 | Jiangsu Yangnong Chemical | PairCorr |
| 0.71 | 600335 | Sinomach Automobile | PairCorr |
| 0.73 | 600805 | Jiangsu Yueda Investment | PairCorr |
| 0.9 | 002848 | Gospell Digital Tech | PairCorr |
| 0.67 | 002975 | Zhuhai Bojay Electronics | PairCorr |
| 0.67 | 002516 | Kuangda Technology | PairCorr |
| 0.84 | 002738 | Sinomine Resource | PairCorr |
| 0.65 | 000822 | Shandong Haihua | PairCorr |
| 0.79 | 002328 | Shanghai Xinpeng Industry | PairCorr |
| 0.75 | 002938 | Avary Holding Shenzhen | PairCorr |
| 0.73 | 002696 | Baiyang Aquatic Group | PairCorr |
| 0.78 | 603556 | Hexing Electrical | PairCorr |
| 0.88 | 300249 | Sichuan Yimikang Env | PairCorr |
Moving against ChengDu Stock
Related Correlations Analysis
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 ChengDu Stock performing well and ChengDu Hi 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 ChengDu Hi'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 301022 | 1.54 | 0.03 | 0.00 | 0.15 | 2.00 | 3.15 | 12.35 | |||
| 688369 | 2.48 | 0.10 | 0.01 | 1.11 | 2.80 | 5.48 | 22.46 | |||
| 000066 | 1.99 | 0.09 | 0.00 | (0.42) | 2.22 | 4.54 | 16.21 | |||
| 300087 | 1.64 | (0.17) | 0.00 | (0.22) | 0.00 | 2.68 | 32.17 | |||
| 600082 | 1.43 | (0.20) | 0.00 | 1.00 | 0.00 | 2.88 | 11.77 | |||
| 002591 | 2.77 | 0.13 | 0.02 | 0.37 | 3.69 | 9.94 | 20.04 | |||
| 300300 | 5.34 | (0.06) | 0.00 | 0.12 | 0.00 | 13.53 | 31.86 | |||
| 000997 | 1.27 | (0.04) | 0.00 | (0.37) | 0.00 | 2.77 | 8.92 | |||
| 000901 | 3.93 | 0.63 | 0.13 | 0.77 | 4.17 | 9.98 | 20.00 |
ChengDu Hi Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ChengDu Hi stock to make a market-neutral strategy. Peer analysis of ChengDu Hi could also be used in its relative valuation, which is a method of valuing ChengDu Hi by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |