Kingsignal Technology Correlations

300252 Stock

9.89 0.04 0.41%

The current 90-days correlation between Kingsignal Technology and Industrial and Commercial is 0.08 (i.e., Significant diversification). The correlation of Kingsignal Technology 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.

Kingsignal Technology Correlation With Market

Significant diversification

The correlation between Kingsignal Technology Co and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kingsignal Technology Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kingsignal Stock

0.76	601398	Industrial and Commercial	Pair Corr
0.77	600519	Kweichow Moutai	Pair Corr
0.63	601288	Agricultural Bank	Pair Corr
0.81	601939	China Construction Bank	Pair Corr
0.65	601988	Bank of China	Pair Corr
0.96	300750	Contemporary Amperex	Pair Corr
0.93	601628	China Life Insurance	Pair Corr
0.88	600036	China Merchants Bank	Pair Corr
0.63	688656	HOB Biotech Group	Pair Corr

Related Correlations Analysis

	601398	601939	601988	601288	601857	600941	601318	600036	601166	600938
601398		0.98	0.94	0.95	0.62	0.8	0.81	0.87	0.87	0.63	601398
601939	0.98		0.9	0.93	0.61	0.73	0.87	0.92	0.91	0.64	601939
601988	0.94	0.9		0.96	0.58	0.84	0.64	0.72	0.74	0.54	601988
601288	0.95	0.93	0.96		0.6	0.77	0.68	0.76	0.8	0.61	601288
601857	0.62	0.61	0.58	0.6		0.73	0.6	0.62	0.75	0.94	601857
600941	0.8	0.73	0.84	0.77	0.73		0.54	0.58	0.68	0.7	600941
601318	0.81	0.87	0.64	0.68	0.6	0.54		0.99	0.93	0.63	601318
600036	0.87	0.92	0.72	0.76	0.62	0.58	0.99		0.95	0.64	600036
601166	0.87	0.91	0.74	0.8	0.75	0.68	0.93	0.95		0.79	601166
600938	0.63	0.64	0.54	0.61	0.94	0.7	0.63	0.64	0.79		600938
	601398	601939	601988	601288	601857	600941	601318	600036	601166	600938

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Risk-Adjusted Indicators

There is a big difference between Kingsignal Stock performing well and Kingsignal Technology 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 Kingsignal Technology'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
601398	1.09	0.17	0.06	3.93	1.09	(1.38)	2.83	(2.29)	8.14
601939	1.18	0.19	0.07	2.23	1.30	(1.38)	3.32	(2.12)	8.64
601988	1.07	0.13	0.03	19.04	1.17	(1.32)	2.67	(2.33)	7.70
601288	1.05	0.15	0.04	9.23	1.43	(1.05)	2.13	(2.19)	7.78
601857	1.32	0.02	(0.03)	(0.26)	1.97	(1.64)	3.55	(2.04)	17.17
600941	1.01	0.08	0.00	0.75	1.06	(1.24)	2.05	(2.04)	8.38
601318	1.82	0.35	0.12	1.09	1.97	(2.17)	5.83	(2.88)	19.77
600036	1.58	0.28	0.09	(33.01)	1.80	(1.81)	4.65	(2.62)	13.83
601166	1.41	0.16	0.05	0.79	1.63	(1.50)	3.84	(2.56)	12.07
600938	1.44	0.08	(0.01)	(0.39)	2.06	(1.51)	3.25	(2.18)	16.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kingsignal Technology 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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