Zhejiang Orient Correlations

688298 Stock

25.32 0.47 1.89%

The correlation of Zhejiang Orient 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.

The ability to find closely correlated positions to Zhejiang Orient 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 Orient 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 Orient - 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 Orient Gene to buy it.

Moving together with Zhejiang Stock

0.64

000995

Gansu Huangtai Wine

Pair Corr

Moving against Zhejiang Stock

0.78	605289	Shanghai Luoman Lighting	Pair Corr
0.75	301345	Zhejiang Taotao Vehicles	Pair Corr
0.65	300207	Sunwoda Electronic	Pair Corr
0.55	300919	Cngr Advanced Material	Pair Corr
0.49	688525	Biwin Storage Technology	Pair Corr
0.49	002150	Jiangsu Tongrun Equipment	Pair Corr
0.48	603389	A Zenith Home	Pair Corr
0.45	301307	Chongqing Millison	Pair Corr
0.42	000969	Advanced Technology	Pair Corr
0.35	600323	Grandblue Environment	Pair Corr

Related Correlations Analysis

	002637	301004	605018	002563	002725	001255	603889	603995	300766
002637		-0.16	-0.11	0.13	-0.25	0.27	0.2	0.44	-0.29	002637
301004	-0.16		0.88	-0.49	-0.26	0.0	-0.8	-0.04	0.81	301004
605018	-0.11	0.88		-0.31	-0.23	0.26	-0.72	0.09	0.8	605018
002563	0.13	-0.49	-0.31		-0.31	0.06	0.42	0.0	-0.42	002563
002725	-0.25	-0.26	-0.23	-0.31		-0.07	0.31	0.07	-0.15	002725
001255	0.27	0.0	0.26	0.06	-0.07		0.15	0.73	-0.02	001255
603889	0.2	-0.8	-0.72	0.42	0.31	0.15		0.35	-0.87	603889
603995	0.44	-0.04	0.09	0.0	0.07	0.73	0.35		-0.13	603995
300766	-0.29	0.81	0.8	-0.42	-0.15	-0.02	-0.87	-0.13		300766
	002637	301004	605018	002563	002725	001255	603889	603995	300766

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

605018	+ 0.88	301004
300766	+ 0.81	301004
300766	+ 0.8	605018
603995	+ 0.73	001255
603995	+ 0.44	002637
603889	+ 0.42	002563

High negative correlations

300766	- 0.87	603889
603889	- 0.8	301004
603889	- 0.72	605018
002563	- 0.49	301004
300766	- 0.42	002563
002725	- 0.31	002563

Risk-Adjusted Indicators

There is a big difference between Zhejiang Stock performing well and Zhejiang Orient 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 Orient'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
002637	1.86	0.01	(0.01)	(0.03)	2.07	(2.14)	3.42	(3.05)	14.61
301004	1.22	(0.30)	0.00	0.76	0.00	0.00	2.03	(2.94)	6.61
605018	1.15	(0.24)	0.00	1.72	0.00	0.00	1.94	(2.34)	7.48
002563	1.38	0.16	0.08	(0.30)	1.55	(1.46)	2.66	(2.48)	8.22
002725	2.45	0.07	0.02	(0.46)	2.74	(2.68)	6.44	(4.27)	16.00
001255	1.81	(0.15)	0.00	0.33	0.00	0.00	3.85	(4.97)	16.88
603889	1.84	0.30	0.12	4.47	1.91	(2.25)	5.04	(3.60)	14.26
603995	0.92	(0.09)	0.00	0.71	0.00	0.00	1.64	(2.27)	7.14
300766	2.53	(0.31)	0.00	1.04	0.00	0.00	4.40	(5.24)	19.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zhejiang Orient 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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Zhejiang Orient Corporate Management

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

Jinhong Yu	Deputy Manager	Profile
Pang Qi	Deputy Manager	Profile
Jinfeng Tan	Deputy Manager	Profile
Faying Xu	Deputy Manager	Profile
Chunmei Zhong	Deputy Manager	Profile
Yuanyuan Li	Accounting Supervisor	Profile

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