Sinocelltech Correlations

688520 Stock

52.89 1.70 3.11%

The current 90-days correlation between Sinocelltech Group and Eyebright Medical Technology is 0.23 (i.e., Modest diversification). The correlation of Sinocelltech 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.

Sinocelltech Correlation With Market

Significant diversification

The correlation between Sinocelltech Group and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sinocelltech Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sinocelltech Stock

0.75	600941	China Mobile Limited Earnings Call This Week	Pair Corr
0.62	688606	Hangzhou Alltest Biotech	Pair Corr

Moving against Sinocelltech Stock

0.85	603444	G bits Network	Pair Corr
0.81	300750	Contemporary Amperex	Pair Corr
0.81	000661	Changchun High New	Pair Corr
0.49	688169	Beijing Roborock Tec	Pair Corr

Related Correlations Analysis

	688050	002217	688531	002516	688126	300892	001215
688050		0.18	-0.25	-0.16	-0.59	0.35	-0.52	688050
002217	0.18		0.37	0.64	0.41	0.82	0.49	002217
688531	-0.25	0.37		0.5	0.75	0.08	0.66	688531
002516	-0.16	0.64	0.5		0.56	0.46	0.74	002516
688126	-0.59	0.41	0.75	0.56		0.07	0.88	688126
300892	0.35	0.82	0.08	0.46	0.07		0.14	300892
001215	-0.52	0.49	0.66	0.74	0.88	0.14		001215
	688050	002217	688531	002516	688126	300892	001215

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

001215	+ 0.88	688126
300892	+ 0.82	002217
688126	+ 0.75	688531
001215	+ 0.74	002516
001215	+ 0.66	688531
002516	+ 0.64	002217

High negative correlations

688126	- 0.59	688050
001215	- 0.52	688050
688531	- 0.25	688050
002516	- 0.16	688050

Risk-Adjusted Indicators

There is a big difference between Sinocelltech Stock performing well and Sinocelltech 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 Sinocelltech'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
688050	1.59	(0.02)	(0.03)	(0.03)	1.82	(1.92)	4.27	(2.96)	13.98
002217	2.79	0.39	0.08	(0.89)	3.34	(3.37)	9.97	(6.58)	20.10
688531	2.33	0.59	0.15	(1.13)	2.66	(2.47)	6.14	(4.15)	14.16
002516	1.80	0.15	0.05	0.24	1.97	(2.40)	10.00	(2.97)	16.59
688126	2.54	0.51	0.15	(0.75)	2.57	(3.11)	7.20	(4.03)	18.59
300892	1.85	(0.01)	(0.02)	0.04	2.05	(2.16)	3.93	(3.60)	13.71
001215	1.55	0.48	0.16	(0.55)	2.17	(1.76)	3.96	(2.75)	16.22

Be your own money manager

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

Did you try this?

Run Price Ceiling Movement Now

Price Ceiling Movement

Calculate and plot Price Ceiling Movement for different equity instruments

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC