Lingyi ITech Correlations

002600 Stock

14.78 0.20 1.34%

The current 90-days correlation between Lingyi iTech Guangdong and Henan Shuanghui Investment is 0.08 (i.e., Significant diversification). The correlation of Lingyi ITech 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.

Lingyi ITech Correlation With Market

Good diversification

The correlation between Lingyi iTech Guangdong and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lingyi iTech Guangdong and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Lingyi Stock

0.71	001979	China Merchants Shekou	Pair Corr
0.82	300750	Contemporary Amperex	Pair Corr
0.86	300124	Shenzhen Inovance Tech	Pair Corr
0.86	605376	Jiangsu Boqian New	Pair Corr
0.68	002169	Guangzhou Zhiguang	Pair Corr
0.69	300068	Zhejiang Narada Power	Pair Corr
0.81	688396	China Resources Micr	Pair Corr
0.69	600096	Yunnan Yuntianhua	Pair Corr
0.86	600522	Jiangsu Zhongtian	Pair Corr
0.67	300329	Hailun Piano	Pair Corr
0.81	600107	Hubei Mailyard Share	Pair Corr
0.62	600426	Shandong Hualu Hengsheng	Pair Corr
0.92	300433	Lens Technology	Pair Corr

Moving against Lingyi Stock

0.49	600048	Poly Real Estate	Pair Corr
0.38	600569	Anyang Iron Steel	Pair Corr
0.36	601668	China State Construction	Pair Corr
0.53	300146	By health	Pair Corr
0.44	001286	Shaanxi Energy Investment	Pair Corr

Related Correlations Analysis

	600110	300343	000548	000895	601288	600053	000893	600599
600110		0.7	-0.1	0.19	-0.11	0.03	-0.37	0.04	600110
300343	0.7		0.3	0.14	-0.12	0.36	-0.53	0.22	300343
000548	-0.1	0.3		0.32	0.34	0.61	0.09	0.57	000548
000895	0.19	0.14	0.32		0.27	0.18	0.56	0.72	000895
601288	-0.11	-0.12	0.34	0.27		-0.08	0.35	0.18	601288
600053	0.03	0.36	0.61	0.18	-0.08		-0.11	0.59	600053
000893	-0.37	-0.53	0.09	0.56	0.35	-0.11		0.32	000893
600599	0.04	0.22	0.57	0.72	0.18	0.59	0.32		600599
	600110	300343	000548	000895	601288	600053	000893	600599

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

600599	+ 0.72	000895
300343	+ 0.7	600110
600053	+ 0.61	000548
600599	+ 0.59	600053
600599	+ 0.57	000548
000893	+ 0.56	000895

High negative correlations

000893	- 0.53	300343
000893	- 0.37	600110
601288	- 0.12	300343
000893	- 0.11	600053
601288	- 0.11	600110
000548	- 0.1	600110

Risk-Adjusted Indicators

There is a big difference between Lingyi Stock performing well and Lingyi ITech 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 Lingyi ITech'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
600110	2.83	0.11	0.04	0.18	3.04	(3.21)	10.00	(3.91)	18.33
300343	1.50	0.06	0.02	0.17	1.65	(1.72)	4.07	(3.07)	9.99
000548	1.08	0.07	(0.04)	(0.13)	1.31	(1.15)	1.83	(2.48)	13.10
000895	0.62	0.15	0.04	(0.40)	0.54	(0.68)	1.55	(1.08)	3.47
601288	1.25	0.41	0.19	(1.12)	1.11	(1.50)	2.66	(2.34)	8.10
600053	2.37	0.40	0.06	(0.36)	3.11	(2.30)	9.98	(5.17)	20.00
000893	2.00	0.44	0.17	1.20	1.85	(2.31)	4.40	(3.82)	11.70
600599	1.65	0.38	0.15	(0.71)	1.44	(2.02)	5.01	(2.05)	10.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Lingyi ITech 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.

Did you try this?

Run Earnings Calls Now

Earnings Calls

Check upcoming earnings announcements updated hourly across public exchanges

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC