Guangdong Shunkong Correlations

003039 Stock

13.49 0.08 0.60%

The current 90-days correlation between Guangdong Shunkong and Loctek Ergonomic Technology is -0.03 (i.e., Good diversification). The correlation of Guangdong Shunkong 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.

Guangdong Shunkong Correlation With Market

Average diversification

The correlation between Guangdong Shunkong Development and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Shunkong Development and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guangdong Stock

0.64	601398	Industrial and Commercial	Pair Corr
0.71	601939	China Construction Bank	Pair Corr
0.72	601988	Bank of China Limited	Pair Corr
0.77	601328	Bank of Communications	Pair Corr
0.75	600036	China Merchants Bank	Pair Corr
0.74	601166	Industrial Bank	Pair Corr
0.73	601998	China Citic Bank	Pair Corr

Moving against Guangdong Stock

0.79	002487	Dajin Heavy Industry	Pair Corr
0.76	301391	Colorlight Cloud Tech	Pair Corr
0.73	688126	National Silicon Industry	Pair Corr
0.73	000962	Ningxia Orient Tantalum	Pair Corr
0.72	688066	Beijing Piesat Infor	Pair Corr
0.7	300861	Yangling Metron New	Pair Corr
0.68	600179	Antong Holdings	Pair Corr
0.67	000021	Shenzhen Kaifa Technology	Pair Corr
0.66	601333	Guangshen Railway	Pair Corr
0.6	900925	Shanghai Mechanical	Pair Corr
0.59	000045	Shenzhen Textile Holdings	Pair Corr
0.58	603389	A Zenith Home	Pair Corr
0.58	301108	Tongling Jieya Biologic	Pair Corr
0.57	601388	Ye Chiu Metal	Pair Corr
0.52	688728	GalaxyCore	Pair Corr
0.52	600111	China Northern Rare	Pair Corr
0.51	300098	Gosuncn Technology	Pair Corr
0.42	002173	Innovative Medical	Pair Corr
0.79	002475	Luxshare Precision	Pair Corr
0.79	300207	Sunwoda Electronic	Pair Corr
0.79	300131	ShenZhen Yitoa Intel	Pair Corr
0.74	002975	Zhuhai Bojay Electronics	Pair Corr
0.73	002185	Tianshui Huatian Tec	Pair Corr
0.71	601880	Liaoning Port	Pair Corr
0.68	603269	Jiangsu Seagull Cooling	Pair Corr
0.66	688261	Suzhou Oriental Semi	Pair Corr
0.66	600353	Chengdu Xuguang Elec	Pair Corr
0.65	000973	FSPG Hi Tech	Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	002952	603199	516220	002096	002999	300243
601615		0.8	0.76	0.47	-0.63	0.17	0.81	0.03	-0.71	-0.07	601615
159681	0.8		0.9	0.69	-0.78	0.64	0.95	0.04	-0.81	0.12	159681
159005	0.76	0.9		0.52	-0.74	0.52	0.89	0.0	-0.72	0.14	159005
300729	0.47	0.69	0.52		-0.38	0.65	0.68	0.2	-0.38	0.26	300729
002952	-0.63	-0.78	-0.74	-0.38		-0.39	-0.67	0.0	0.86	0.14	002952
603199	0.17	0.64	0.52	0.65	-0.39		0.6	-0.01	-0.39	0.42	603199
516220	0.81	0.95	0.89	0.68	-0.67	0.6		0.22	-0.66	0.23	516220
002096	0.03	0.04	0.0	0.2	0.0	-0.01	0.22		0.21	0.15	002096
002999	-0.71	-0.81	-0.72	-0.38	0.86	-0.39	-0.66	0.21		0.29	002999
300243	-0.07	0.12	0.14	0.26	0.14	0.42	0.23	0.15	0.29		300243
	601615	159681	159005	300729	002952	603199	516220	002096	002999	300243

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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

516220	+ 0.95	159681
159005	+ 0.9	159681
516220	+ 0.89	159005
002999	+ 0.86	002952
516220	+ 0.81	601615
159681	+ 0.8	601615

High negative correlations

002999	- 0.81	159681
002952	- 0.78	159681
002952	- 0.74	159005
002999	- 0.72	159005
002999	- 0.71	601615
516220	- 0.67	002952

Risk-Adjusted Indicators

There is a big difference between Guangdong Stock performing well and Guangdong Shunkong 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 Guangdong Shunkong'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
601615	2.07	0.76	0.42	1.86	1.20	(2.61)	7.24	(2.66)	12.65
159681	1.62	0.60	0.26	1.60	1.39	(2.26)	3.74	(2.24)	12.51
159005	0.01	(0.01)	(5.03)	2.54	0.00	(0.04)	0.01	(0.01)	0.12
300729	1.11	0.04	(0.01)	(0.17)	1.35	(1.31)	3.10	(2.19)	7.80
002952	1.30	(0.02)	0.00	1.05	0.00	0.00	2.89	(2.63)	6.46
603199	0.92	(0.03)	0.00	0.75	0.00	0.00	1.57	(2.22)	8.25
516220	1.16	0.39	0.18	(1.69)	0.91	(1.81)	2.74	(1.43)	7.36
002096	1.84	0.23	0.06	(0.61)	2.37	(1.85)	3.37	(4.03)	18.78
002999	0.97	(0.05)	0.00	0.18	0.00	0.00	1.72	(2.51)	5.15
300243	1.68	0.03	(0.01)	(0.69)	1.89	(1.83)	3.73	(2.96)	10.84

Guangdong Shunkong 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 Guangdong Shunkong stock to make a market-neutral strategy. Peer analysis of Guangdong Shunkong could also be used in its relative valuation, which is a method of valuing Guangdong Shunkong by comparing valuation metrics with similar companies.

Ming Yang Smart 159681 159005 Loctek Ergonomic Technology Yes Optoelectronics Co Anhui Jiuhuashan Tourism 516220 Hunan Nanling Industrial Guangdong Tianhe Agricultural Shandong Ruifeng Chemical American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Guangdong Shunkong Corporate Executives

Elected by the shareholders, the Guangdong Shunkong's board of directors comprises two types of representatives: Guangdong Shunkong inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Guangdong. The board's role is to monitor Guangdong Shunkong's management team and ensure that shareholders' interests are well served. Guangdong Shunkong's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Guangdong Shunkong's outside directors are responsible for providing unbiased perspectives on the board's policies.

Yi Jiang

CFO GM

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