Shenzhen Bioeasy Correlations

300942 Stock

9.75 0.37 3.66%

The current 90-days correlation between Shenzhen Bioeasy Bio and Industrial and Commercial is 0.16 (i.e., Average diversification). The correlation of Shenzhen Bioeasy 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.

Shenzhen Bioeasy Correlation With Market

Significant diversification

The correlation between Shenzhen Bioeasy Biotechnology and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Bioeasy Biotechnology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shenzhen Stock

0.73	601628	China Life Insurance	Pair Corr
0.7	601059	Cinda Securities	Pair Corr
0.86	688072	Piotech Inc A	Pair Corr
0.8	601198	Dongxing Sec	Pair Corr
0.89	688293	Shanghai OPM Biosciences	Pair Corr
0.76	688126	National Silicon Industry	Pair Corr
0.87	000504	Nanhua Bio Medicine	Pair Corr
0.95	000061	Shenzhen Agricultural	Pair Corr
0.87	688012	Advanced Micro Fabri	Pair Corr
0.76	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 Shenzhen Stock performing well and Shenzhen Bioeasy 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 Shenzhen Bioeasy'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 Shenzhen Bioeasy 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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