Eoptolink Technology Correlations

300502 Stock

445.30 2.69 0.60%

The current 90-days correlation between Eoptolink Technology and Guangzhou Dongfang Hotel is 0.17 (i.e., Average diversification). The correlation of Eoptolink 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.

Eoptolink Technology Correlation With Market

Average diversification

The correlation between Eoptolink Technology and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eoptolink Technology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Eoptolink 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 Eoptolink 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 Eoptolink 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 Eoptolink Technology to buy it.

Moving together with Eoptolink Stock

0.64	601933	Yonghui Superstores	Pair Corr
0.7	301338	GKG Precision Machine	Pair Corr
0.78	688607	CareRay Digital Medical	Pair Corr
0.81	300548	Broadex Technologies	Pair Corr
0.81	001270	Zhejiang Chengchang	Pair Corr
0.78	002371	NAURA Technology	Pair Corr

Moving against Eoptolink Stock

0.5	000889	ZJBC Information Tec	Pair Corr
0.36	601939	China Construction Bank	Pair Corr

Related Correlations Analysis

	000600	000428	000506	000809	600864	300366	688175	000524
000600		-0.46	0.61	0.31	0.51	0.03	0.21	0.17	000600
000428	-0.46		-0.48	0.16	-0.31	0.66	-0.05	0.07	000428
000506	0.61	-0.48		0.16	-0.03	-0.11	0.56	-0.29	000506
000809	0.31	0.16	0.16		-0.1	0.05	0.39	-0.26	000809
600864	0.51	-0.31	-0.03	-0.1		0.01	-0.5	0.76	600864
300366	0.03	0.66	-0.11	0.05	0.01		0.01	0.27	300366
688175	0.21	-0.05	0.56	0.39	-0.5	0.01		-0.61	688175
000524	0.17	0.07	-0.29	-0.26	0.76	0.27	-0.61		000524
	000600	000428	000506	000809	600864	300366	688175	000524

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

000524	+ 0.76	600864
300366	+ 0.66	000428
000506	+ 0.61	000600
688175	+ 0.56	000506
600864	+ 0.51	000600
688175	+ 0.39	000809

High negative correlations

000524	- 0.61	688175
688175	- 0.5	600864
000506	- 0.48	000428
000428	- 0.46	000600
600864	- 0.31	000428
000524	- 0.29	000506

Risk-Adjusted Indicators

There is a big difference between Eoptolink Stock performing well and Eoptolink 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 Eoptolink 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
000600	1.41	0.30	0.13	0.84	1.52	(1.54)	3.12	(2.13)	11.09
000428	1.58	(0.24)	0.00	0.45	0.00	0.00	3.30	(3.86)	10.84
000506	2.83	0.50	0.18	0.58	2.44	(3.56)	7.80	(4.47)	17.05
000809	1.85	0.06	0.00	0.50	2.08	(2.12)	3.75	(3.37)	15.37
600864	1.18	(0.10)	0.00	(1.64)	0.00	0.00	2.54	(2.44)	10.63
300366	2.11	(0.15)	0.00	0.45	0.00	0.00	3.07	(4.13)	19.97
688175	1.84	0.33	0.13	0.74	1.87	(2.03)	3.39	(3.26)	18.90
000524	1.79	(0.33)	0.00	(1.84)	0.00	0.00	3.64	(5.24)	10.31

Be your own money manager

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