AVIT Correlations

300264 Stock

7.40 0.18 2.37%

The current 90-days correlation between AVIT and Jilin Jlu Communication is 0.3 (i.e., Weak diversification). The correlation of AVIT 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.

AVIT Correlation With Market

Modest diversification

The correlation between AVIT and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AVIT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AVIT Stock

0.82	002548	Shenzhen Jinxinnong Feed	Pair Corr
0.67	601318	Ping An Insurance	Pair Corr
0.64	300093	Gansu Golden Glass	Pair Corr
0.79	600426	Shandong Hualu Hengsheng	Pair Corr
0.85	603828	Suzhou Kelida Bldg	Pair Corr
0.77	002379	Shandong Hongchuang	Pair Corr
0.77	601058	Sailun Jinyu Group	Pair Corr
0.82	002162	Everjoy Health Group	Pair Corr
0.67	688115	Smartgiant Technology	Pair Corr
0.74	300593	Beijing Xinleineng	Pair Corr

Moving against AVIT Stock

0.83	000661	Changchun High New	Pair Corr
0.77	200596	Anhui Gujing Distillery	Pair Corr
0.53	600941	China Mobile Limited	Pair Corr
0.51	603444	G bits Network	Pair Corr
0.47	301099	Shanghai Yct Electronics	Pair Corr
0.42	600519	Kweichow Moutai	Pair Corr

Related Correlations Analysis

	000901	600498	002318	300597	688009	601279	300638	300081
000901		0.81	0.73	0.15	0.57	0.6	0.29	0.27	000901
600498	0.81		0.86	-0.02	0.76	0.38	0.5	-0.1	600498
002318	0.73	0.86		-0.08	0.85	0.42	0.28	-0.2	002318
300597	0.15	-0.02	-0.08		-0.25	0.11	-0.04	0.62	300597
688009	0.57	0.76	0.85	-0.25		0.19	0.33	-0.29	688009
601279	0.6	0.38	0.42	0.11	0.19		-0.1	0.3	601279
300638	0.29	0.5	0.28	-0.04	0.33	-0.1		-0.21	300638
300081	0.27	-0.1	-0.2	0.62	-0.29	0.3	-0.21		300081
	000901	600498	002318	300597	688009	601279	300638	300081

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

002318	+ 0.86	600498
688009	+ 0.85	002318
600498	+ 0.81	000901
688009	+ 0.76	600498
002318	+ 0.73	000901
300081	+ 0.62	300597

High negative correlations

300081	- 0.29	688009
688009	- 0.25	300597
300081	- 0.21	300638
300081	- 0.2	002318
300638	- 0.1	601279
300081	- 0.1	600498

Risk-Adjusted Indicators

There is a big difference between AVIT Stock performing well and AVIT 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 AVIT'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
000901	3.69	1.09	0.28	2.30	3.15	(4.26)	9.99	(5.02)	17.54
600498	2.67	0.63	0.23	0.80	2.27	(3.33)	8.18	(4.30)	13.64
002318	1.43	0.15	0.07	0.36	1.44	(1.57)	3.28	(3.10)	10.12
300597	1.38	0.15	0.05	0.55	1.71	(1.42)	3.50	(2.83)	7.96
688009	0.68	0.01	(0.04)	0.12	0.78	(0.81)	2.04	(1.48)	4.66
601279	2.83	0.40	0.07	(0.39)	3.04	(3.15)	10.00	(4.27)	20.08
300638	3.00	0.15	0.03	0.41	3.36	(3.39)	6.24	(5.86)	27.11
300081	2.76	0.44	0.13	1.50	2.66	(3.41)	8.33	(4.86)	25.23

Be your own money manager

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