Zhejiang Cayi Correlations
| 301004 Stock | 54.70 0.65 1.17% |
The current 90-days correlation between Zhejiang Cayi Vacuum and Zijin Mining Group is 0.15 (i.e., Average diversification). The correlation of Zhejiang Cayi 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.
Zhejiang Cayi Correlation With Market
Average diversification
The correlation between Zhejiang Cayi Vacuum and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Cayi Vacuum and DJI in the same portfolio, assuming nothing else is changed.
Zhejiang |
The ability to find closely correlated positions to Zhejiang Cayi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhejiang Cayi 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 Zhejiang Cayi - 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 Zhejiang Cayi Vacuum to buy it.
Moving against Zhejiang Stock
| 0.88 | 603301 | Zhende Medical | PairCorr |
| 0.86 | 605098 | Shanghai Action Education | PairCorr |
| 0.83 | 601665 | Qilu Bank | PairCorr |
| 0.78 | 601899 | Zijin Mining Group | PairCorr |
| 0.78 | 000807 | Yunnan Aluminium | PairCorr |
| 0.77 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.75 | 600711 | Chengtun Mining Group | PairCorr |
| 0.74 | 002407 | Do Fluoride Chemicals | PairCorr |
| 0.72 | 600489 | Zhongjin Gold Corp | PairCorr |
| 0.69 | 002348 | Goldlok Toys Holdings | PairCorr |
| 0.66 | 300472 | Beijing New Universal | PairCorr |
| 0.66 | 002728 | Teyi Pharmaceutical | PairCorr |
| 0.65 | 603986 | GigaDevice SemiconductorBei | PairCorr |
| 0.64 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.63 | 601121 | Xinjiang Baodi Mining | PairCorr |
| 0.6 | 002397 | Hunan Mendale Hometextile | PairCorr |
| 0.58 | 002534 | Xizi Clean Energy | PairCorr |
| 0.57 | 600064 | Nanjing Gaoke | PairCorr |
| 0.57 | 301070 | Kale Environmental | PairCorr |
| 0.55 | 002950 | Allmed Medical Products | PairCorr |
| 0.51 | 688392 | SBT Ultrasonic Technology | PairCorr |
| 0.51 | 002371 | NAURA Technology | PairCorr |
| 0.49 | 002702 | HaiXin Foods | PairCorr |
| 0.45 | 688776 | Guoguang Electric | PairCorr |
| 0.34 | 300626 | Huarui Electrical | PairCorr |
| 0.79 | 002208 | Hefei Urban Construction | PairCorr |
| 0.79 | 000886 | Hainan Expressway | PairCorr |
| 0.76 | 001217 | Anhui Huaertai Chemical | PairCorr |
| 0.69 | 002928 | China Express Airlines | PairCorr |
| 0.67 | 601628 | China Life Insurance | PairCorr |
| 0.66 | 605289 | Shanghai Luoman Lighting | PairCorr |
| 0.63 | 002813 | Shenzhen RoadRover | PairCorr |
| 0.62 | 603353 | Hunan Heshun Petroleum | PairCorr |
| 0.62 | 688469 | Semiconductor Manufacturing | PairCorr |
| 0.6 | 601939 | China Construction Bank | PairCorr |
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 Zhejiang Stock performing well and Zhejiang Cayi 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 Zhejiang Cayi'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601899 | 2.22 | 0.55 | 0.19 | (2.03) | 2.12 | 5.18 | 15.74 | |||
| 600309 | 1.51 | 0.04 | (0.01) | 0.24 | 1.73 | 3.45 | 10.02 | |||
| 600547 | 2.24 | 0.22 | 0.04 | (0.29) | 2.37 | 5.98 | 16.34 | |||
| 600019 | 1.00 | 0.04 | 0.00 | 0.16 | 1.11 | 2.50 | 6.15 | |||
| 002460 | 3.35 | 0.78 | 0.18 | (2.21) | 3.14 | 9.10 | 20.02 | |||
| 600010 | 1.80 | (0.12) | 0.00 | 0.26 | 0.00 | 4.72 | 14.65 | |||
| 600489 | 2.53 | 0.71 | 0.25 | (0.85) | 2.07 | 8.76 | 15.35 | |||
| 002493 | 1.53 | (0.05) | 0.00 | (0.05) | 0.00 | 4.34 | 9.75 | |||
| 600160 | 1.88 | (0.10) | 0.00 | (0.21) | 0.00 | 4.28 | 13.96 | |||
| 000807 | 2.33 | 0.60 | 0.25 | 0.53 | 2.08 | 5.95 | 14.01 |
Be your own money manager
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