CHINA DISPLAY Correlations

PJJ1 Stock

EUR 0.05 0 2.08%

The current 90-days correlation between CHINA DISPLAY OTHHD and Ryanair Holdings plc is 0.24 (i.e., Modest diversification). The correlation of CHINA DISPLAY 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.

CHINA DISPLAY Correlation With Market

Significant diversification

The correlation between CHINA DISPLAY OTHHD 10 and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHINA DISPLAY OTHHD 10 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CHINA DISPLAY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CHINA DISPLAY 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 CHINA DISPLAY - 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 CHINA DISPLAY OTHHD 10 to buy it.

Moving together with CHINA Stock

0.73	XPH	Amphenol	Pair Corr
0.8	HHP2	Hon Hai Precision	Pair Corr
0.83	XSDG	Samsung SDI	Pair Corr
0.69	MUR1	Murata Manufacturing	Pair Corr
0.82	GLW	Corning Incorporated	Pair Corr
0.72	MIE1	Mitsubishi Electric	Pair Corr
0.79	SXC	Sunny Optical Technology Earnings Call This Week	Pair Corr
0.73	HUEC	Hubbell Incorporated	Pair Corr
0.84	TDK	TDK Corporation	Pair Corr
0.74	NVD	NVIDIA	Pair Corr
0.83	FJZ	Zijin Mining Group	Pair Corr
0.74	NEF	Neste Oyj	Pair Corr

Moving against CHINA Stock

0.49	E908	Lyxor 1	Pair Corr
0.47	GSR	Gossan Resources	Pair Corr

Related Correlations Analysis

	RY4C	KDIC	OS3	MGK	PSAN	5QV	1XV
RY4C		0.73	0.62	0.57	-0.64	0.85	-0.23	RY4C
KDIC	0.73		0.81	0.74	-0.57	0.89	-0.01	KDIC
OS3	0.62	0.81		0.87	-0.31	0.73	0.35	OS3
MGK	0.57	0.74	0.87		-0.18	0.64	0.37	MGK
PSAN	-0.64	-0.57	-0.31	-0.18		-0.71	0.39	PSAN
5QV	0.85	0.89	0.73	0.64	-0.71		-0.16	5QV
1XV	-0.23	-0.01	0.35	0.37	0.39	-0.16		1XV
	RY4C	KDIC	OS3	MGK	PSAN	5QV	1XV

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

5QV	+ 0.89	KDIC
MGK	+ 0.87	OS3
5QV	+ 0.85	RY4C
OS3	+ 0.81	KDIC
MGK	+ 0.74	KDIC
KDIC	+ 0.73	RY4C

High negative correlations

5QV	- 0.71	PSAN
PSAN	- 0.64	RY4C
PSAN	- 0.57	KDIC
PSAN	- 0.31	OS3
1XV	- 0.23	RY4C
PSAN	- 0.18	MGK

Risk-Adjusted Indicators

There is a big difference between CHINA Stock performing well and CHINA DISPLAY 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 CHINA DISPLAY'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
RY4C	1.84	0.23	0.07	1.60	2.02	(1.98)	3.98	(3.57)	8.96
KDIC	2.54	0.21	0.04	(0.71)	2.55	(3.08)	6.67	(4.29)	17.14
OS3	1.53	0.19	0.05	2.16	1.66	(2.01)	3.53	(3.23)	8.00
MGK	1.93	0.35	0.12	(2.89)	1.85	(2.55)	4.97	(3.60)	12.84
PSAN	1.29	(0.30)	0.00	(0.72)	0.00	0.00	2.61	(3.32)	10.14
5QV	1.64	0.51	0.24	3.36	1.16	(2.32)	2.83	(2.15)	26.37
1XV	1.70	0.03	(0.01)	0.19	2.54	(1.76)	3.41	(3.62)	19.88

Be your own money manager

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