Motorcomm Electronic Correlations

688515 Stock

100.14 2.36 2.41%

The current 90-days correlation between Motorcomm Electronic and Bank of Communications is 0.11 (i.e., Average diversification). The correlation of Motorcomm Electronic 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.

Motorcomm Electronic Correlation With Market

Average diversification

The correlation between Motorcomm Electronic Technolog and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Motorcomm Electronic Technolog and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Motorcomm Stock

0.63

688041

Hygon Information

Pair Corr

Moving against Motorcomm Stock

0.81	601857	PetroChina	Pair Corr
0.78	601988	Bank of China	Pair Corr
0.74	601398	Industrial and Commercial	Pair Corr
0.69	600938	CNOOC Limited	Pair Corr
0.66	601939	China Construction Bank	Pair Corr
0.62	601288	Agricultural Bank	Pair Corr

Related Correlations Analysis

	601328	601166	601288	601939	601398	601988	600000	000001	601818	600919
601328		0.74	0.8	0.87	0.89	0.95	-0.47	0.87	0.61	0.6	601328
601166	0.74		0.48	0.64	0.51	0.63	0.05	0.79	0.82	0.57	601166
601288	0.8	0.48		0.86	0.91	0.74	-0.46	0.8	0.22	0.8	601288
601939	0.87	0.64	0.86		0.87	0.88	-0.35	0.92	0.46	0.79	601939
601398	0.89	0.51	0.91	0.87		0.87	-0.67	0.81	0.25	0.65	601398
601988	0.95	0.63	0.74	0.88	0.87		-0.55	0.82	0.53	0.5	601988
600000	-0.47	0.05	-0.46	-0.35	-0.67	-0.55		-0.21	0.29	-0.03	600000
000001	0.87	0.79	0.8	0.92	0.81	0.82	-0.21		0.62	0.79	000001
601818	0.61	0.82	0.22	0.46	0.25	0.53	0.29	0.62		0.28	601818
600919	0.6	0.57	0.8	0.79	0.65	0.5	-0.03	0.79	0.28		600919
	601328	601166	601288	601939	601398	601988	600000	000001	601818	600919

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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

601988	+ 0.95	601328
000001	+ 0.92	601939
601398	+ 0.91	601288
601398	+ 0.89	601328
601988	+ 0.88	601939
601939	+ 0.87	601328

High negative correlations

600000	- 0.67	601398
600000	- 0.55	601988
600000	- 0.47	601328
600000	- 0.46	601288
600000	- 0.35	601939
000001	- 0.21	600000

Risk-Adjusted Indicators

There is a big difference between Motorcomm Stock performing well and Motorcomm Electronic 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 Motorcomm Electronic'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
601328	0.87	0.00	(0.06)	0.01	1.03	(0.97)	1.74	(1.88)	4.01
601166	0.83	(0.09)	0.00	0.71	0.00	0.00	1.76	(1.76)	4.70
601288	1.31	0.00	(0.02)	0.07	1.41	(1.49)	2.66	(2.65)	6.23
601939	0.90	(0.06)	0.00	(1.56)	0.00	0.00	2.30	(1.70)	6.03
601398	0.78	0.08	0.01	1.31	0.85	(0.92)	2.28	(1.81)	5.17
601988	0.92	0.00	0.00	0.12	0.00	0.00	1.73	(1.91)	7.06
600000	1.23	(0.22)	0.00	0.51	0.00	0.00	2.08	(2.48)	10.34
000001	0.59	(0.03)	0.00	2.66	0.00	0.00	1.40	(1.12)	3.16
601818	0.83	(0.11)	0.00	(6.21)	0.00	0.00	1.96	(1.71)	5.28
600919	0.94	(0.05)	0.00	1.12	0.00	0.00	1.88	(1.82)	7.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Motorcomm Electronic 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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