Digiwin Software Correlations
| 300378 Stock | 46.86 2.64 5.33% |
The current 90-days correlation between Digiwin Software and Thunder Software Technology is 0.8 (i.e., Very poor diversification). The correlation of Digiwin Software 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.
Digiwin Software Correlation With Market
Very weak diversification
The correlation between Digiwin Software Co and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digiwin Software Co and DJI in the same portfolio, assuming nothing else is changed.
Digiwin |
The ability to find closely correlated positions to Digiwin Software could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Digiwin Software 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 Digiwin Software - 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 Digiwin Software Co to buy it.
Moving together with Digiwin Stock
| 0.63 | 002919 | Mingchen Health | PairCorr |
| 0.76 | 002865 | Hainan Drinda Automotive | PairCorr |
| 0.67 | 688498 | Yuanjie Semiconductor | PairCorr |
| 0.76 | 300507 | Jiangsu Olive Sensors | PairCorr |
| 0.89 | 300624 | Wondershare Technology | PairCorr |
| 0.62 | 002938 | Avary Holding Shenzhen | PairCorr |
| 0.67 | 300707 | VT Industrial Technology | PairCorr |
| 0.63 | 301033 | Medprin Regenerative | PairCorr |
| 0.93 | 600637 | Shanghai Oriental Pearl | PairCorr |
| 0.63 | 300249 | Sichuan Yimikang Env | PairCorr |
| 0.72 | 600686 | Xiamen King Long | PairCorr |
| 0.64 | 002208 | Hefei Urban Construction | PairCorr |
| 0.74 | 301215 | CATARC Automotive Proving | PairCorr |
| 0.71 | 301095 | Semitronix Corp A | PairCorr |
| 0.61 | 600271 | Aisino Corp | PairCorr |
| 0.8 | 001215 | Zhengzhou Qianweiyangchu | PairCorr |
| 0.62 | 603713 | Milkyway Chemical Supply | PairCorr |
| 0.69 | 300347 | Hangzhou Tigermed | PairCorr |
| 0.64 | 603699 | Neway Valve suzhou | PairCorr |
| 0.72 | 600805 | Jiangsu Yueda Investment | PairCorr |
| 0.87 | 600633 | Zhejiang Daily Media | PairCorr |
| 0.81 | 603556 | Hexing Electrical | PairCorr |
Related Correlations Analysis
| 0.29 | 0.53 | 0.65 | 0.46 | 0.33 | 0.51 | 601021 | ||
| 0.29 | 0.17 | 0.4 | 0.56 | -0.32 | 0.27 | 000995 | ||
| 0.53 | 0.17 | 0.74 | 0.66 | 0.75 | 0.96 | 300496 | ||
| 0.65 | 0.4 | 0.74 | 0.83 | 0.58 | 0.76 | 002382 | ||
| 0.46 | 0.56 | 0.66 | 0.83 | 0.44 | 0.72 | 688058 | ||
| 0.33 | -0.32 | 0.75 | 0.58 | 0.44 | 0.7 | 688590 | ||
| 0.51 | 0.27 | 0.96 | 0.76 | 0.72 | 0.7 | 603171 | ||
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
|
Risk-Adjusted Indicators
There is a big difference between Digiwin Stock performing well and Digiwin Software 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 Digiwin Software'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601021 | 1.24 | (0.15) | 0.00 | (0.25) | 0.00 | 3.30 | 6.96 | |||
| 000995 | 2.58 | 0.30 | 0.07 | 2.73 | 2.75 | 9.99 | 20.04 | |||
| 300496 | 1.80 | 0.20 | 0.05 | (2.05) | 1.79 | 3.72 | 18.79 | |||
| 002382 | 1.39 | (0.04) | (0.05) | 0.03 | 1.57 | 2.50 | 12.81 | |||
| 688058 | 1.66 | 0.11 | 0.02 | 1.70 | 1.66 | 3.56 | 10.10 | |||
| 688590 | 2.20 | (0.12) | 0.00 | 0.25 | 0.00 | 4.07 | 25.92 | |||
| 603171 | 2.68 | 0.47 | 0.11 | (1.13) | 2.89 | 8.01 | 14.76 |
Digiwin Software 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 Digiwin Software stock to make a market-neutral strategy. Peer analysis of Digiwin Software could also be used in its relative valuation, which is a method of valuing Digiwin Software by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Digiwin Software Corporate Executives
Elected by the shareholders, the Digiwin Software's board of directors comprises two types of representatives: Digiwin Software inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Digiwin. The board's role is to monitor Digiwin Software's management team and ensure that shareholders' interests are well served. Digiwin Software'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, Digiwin Software's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Yuan Zhang | VP CFO | Profile |