Fujian Nebula Correlations

300648 Stock

39.70 0.77 1.98%

The current 90-days correlation between Fujian Nebula Electronics and PetroChina Co Ltd is -0.21 (i.e., Very good diversification). The correlation of Fujian Nebula 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.

Fujian Nebula Correlation With Market

Good diversification

The correlation between Fujian Nebula Electronics 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 Fujian Nebula Electronics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Fujian Stock

0.51	002266	Zhefu Holding Group	Pair Corr
0.48	600064	Nanjing Gaoke	Pair Corr
0.44	603156	Hebei Yangyuan ZhiHui	Pair Corr
0.39	601333	Guangshen Railway Earnings Call This Week	Pair Corr
0.38	002759	Guangdong Tonze Electric	Pair Corr

Related Correlations Analysis

	601857	601398	601939	600028	601288	601988	600938	601658	600941
601857		0.6	0.7	0.75	0.19	0.76	0.05	0.13	0.56	601857
601398	0.6		0.87	0.43	0.13	0.7	0.14	-0.09	0.58	601398
601939	0.7	0.87		0.7	-0.14	0.84	-0.1	-0.18	0.78	601939
600028	0.75	0.43	0.7		-0.33	0.8	-0.32	-0.08	0.76	600028
601288	0.19	0.13	-0.14	-0.33		-0.08	0.45	0.45	-0.44	601288
601988	0.76	0.7	0.84	0.8	-0.08		-0.37	0.23	0.67	601988
600938	0.05	0.14	-0.1	-0.32	0.45	-0.37		-0.18	-0.3	600938
601658	0.13	-0.09	-0.18	-0.08	0.45	0.23	-0.18		-0.31	601658
600941	0.56	0.58	0.78	0.76	-0.44	0.67	-0.3	-0.31		600941
	601857	601398	601939	600028	601288	601988	600938	601658	600941

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

601939	+ 0.87	601398
601988	+ 0.84	601939
601988	+ 0.8	600028
600941	+ 0.78	601939
601988	+ 0.76	601857
600941	+ 0.76	600028

High negative correlations

600941	- 0.44	601288
600938	- 0.37	601988
601288	- 0.33	600028
600938	- 0.32	600028
600941	- 0.31	601658
600941	- 0.3	600938

Risk-Adjusted Indicators

There is a big difference between Fujian Stock performing well and Fujian Nebula 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 Fujian Nebula'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
601857	1.07	0.04	(0.04)	(0.16)	1.29	(1.26)	2.50	(2.05)	7.23
601398	0.83	0.04	(0.06)	(0.04)	0.93	(0.97)	2.28	(1.72)	4.85
601939	0.81	(0.03)	0.00	0.18	0.00	0.00	1.99	(1.68)	5.26
600028	0.77	(0.01)	0.00	0.10	0.00	0.00	1.89	(1.40)	7.30
601288	1.23	0.43	0.23	(1.36)	1.04	(1.50)	2.66	(2.34)	8.10
601988	0.77	(0.03)	0.00	0.18	0.00	0.00	1.89	(1.78)	3.96
600938	0.81	0.15	0.05	(0.35)	0.84	(0.92)	1.59	(1.65)	4.07
601658	1.00	0.11	0.01	(0.26)	1.22	(1.16)	1.77	(1.80)	6.07
600941	0.56	(0.06)	0.00	0.49	0.00	0.00	1.24	(1.10)	3.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fujian Nebula 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.

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Fujian Nebula Corporate Executives

Elected by the shareholders, the Fujian Nebula's board of directors comprises two types of representatives: Fujian Nebula inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Fujian. The board's role is to monitor Fujian Nebula's management team and ensure that shareholders' interests are well served. Fujian Nebula'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, Fujian Nebula's outside directors are responsible for providing unbiased perspectives on the board's policies.

Zhenfeng Wu

Deputy CFO

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