WUXI BIOLOGICS Correlations

1FW1 Stock

EUR 5.05 0.10 1.94%

The current 90-days correlation between WUXI BIOLOGICS UNSPADR2 and CSL LTD SPONADR is 0.15 (i.e., Average diversification). The correlation of WUXI BIOLOGICS 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.

WUXI BIOLOGICS Correlation With Market

Good diversification

The correlation between WUXI BIOLOGICS UNSPADR2 and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WUXI BIOLOGICS UNSPADR2 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WUXI BIOLOGICS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WUXI BIOLOGICS 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 WUXI BIOLOGICS - 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 WUXI BIOLOGICS UNSPADR2 to buy it.

Moving together with WUXI Stock

0.74	VX1	Vertex Pharmaceuticals Earnings Call Shortly	Pair Corr
0.87	NNN1	Tencent Holdings	Pair Corr
0.7	39M	Moneysupermarket Earnings Call Shortly	Pair Corr
0.66	ERT	Electronic Arts Earnings Call Shortly	Pair Corr
0.79	BNP	BNP Paribas SA	Pair Corr
0.67	D1LN	Direct Line Insurance	Pair Corr
0.8	NNN1	Tencent Holdings	Pair Corr

Moving against WUXI Stock

0.37	9D2	BC TECHNOLOGY GROUP	Pair Corr
0.43	TGE1	Mobilezone Holding	Pair Corr

Related Correlations Analysis

	NOVA	CSJA	CSJ	MBG	VX1	0QF	1FW1	22UA
NOVA		0.9	0.89	0.76	0.34	0.81	0.15	0.8	NOVA
CSJA	0.9		0.97	0.67	0.25	0.86	0.07	0.85	CSJA
CSJ	0.89	0.97		0.64	0.21	0.85	0.04	0.87	CSJ
MBG	0.76	0.67	0.64		0.51	0.72	0.48	0.56	MBG
VX1	0.34	0.25	0.21	0.51		0.13	0.74	-0.02	VX1
0QF	0.81	0.86	0.85	0.72	0.13		0.03	0.77	0QF
1FW1	0.15	0.07	0.04	0.48	0.74	0.03		-0.18	1FW1
22UA	0.8	0.85	0.87	0.56	-0.02	0.77	-0.18		22UA
	NOVA	CSJA	CSJ	MBG	VX1	0QF	1FW1	22UA

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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

CSJ	+ 0.97	CSJA
CSJA	+ 0.9	NOVA
CSJ	+ 0.89	NOVA
22UA	+ 0.87	CSJ
0QF	+ 0.86	CSJA
22UA	+ 0.85	CSJA

High negative correlations

22UA	- 0.18	1FW1
22UA	- 0.02	VX1

Risk-Adjusted Indicators

There is a big difference between WUXI Stock performing well and WUXI BIOLOGICS 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 WUXI BIOLOGICS'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
NOVA	2.42	(0.45)	0.00	(2.16)	0.00	0.00	5.56	(5.30)	16.47
CSJA	1.63	(0.23)	0.00	3.48	0.00	0.00	3.17	(4.32)	13.17
CSJ	1.39	(0.28)	0.00	0.65	0.00	0.00	2.75	(2.86)	10.77
MBG	1.77	0.04	0.05	0.02	2.45	(1.74)	2.44	(4.40)	15.85
VX1	1.67	0.04	0.11	(0.28)	1.93	(1.76)	3.02	(2.55)	10.44
0QF	3.42	(0.66)	0.00	(3.46)	0.00	0.00	7.02	(7.29)	21.89
1FW1	3.67	0.34	0.09	(0.85)	5.26	(4.20)	10.76	(6.94)	38.74
22UA	2.71	(0.30)	0.00	(7.15)	0.00	0.00	5.75	(5.54)	24.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in WUXI BIOLOGICS 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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