Pingtan Marine Correlations
| PMEDelisted Stock | USD 0.27 0.00 0.00% |
The current 90-days correlation between Pingtan Marine Enterprise and GEN Restaurant Group, is 0.06 (i.e., Significant diversification). The correlation of Pingtan Marine 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.
Pingtan Marine Correlation With Market
Significant diversification
The correlation between Pingtan Marine Enterprise 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 Pingtan Marine Enterprise and DJI in the same portfolio, assuming nothing else is changed.
Pingtan |
Moving together with Pingtan Stock
Moving against Pingtan Stock
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| 0.72 | KAKZF | Kaspi Bank Joint | PairCorr |
| 0.72 | HD | Home Depot | PairCorr |
| 0.67 | BRK-A | Berkshire Hathaway | PairCorr |
| 0.66 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.64 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.62 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.61 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.59 | HPQ | HP Inc Fiscal Year End 19th of November 2024 | PairCorr |
| 0.58 | VZ | Verizon Communications Sell-off Trend | PairCorr |
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| 0.47 | MSFT | Microsoft | PairCorr |
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Related Correlations Analysis
| 0.56 | 0.51 | 0.5 | 0.54 | 0.74 | -0.12 | DLTTF | ||
| 0.56 | 0.47 | 0.58 | 0.45 | 0.61 | 0.25 | NODK | ||
| 0.51 | 0.47 | 0.63 | 0.46 | 0.48 | 0.29 | SBUX | ||
| 0.5 | 0.58 | 0.63 | 0.42 | 0.79 | 0.42 | TRUP | ||
| 0.54 | 0.45 | 0.46 | 0.42 | 0.37 | 0.34 | DENN | ||
| 0.74 | 0.61 | 0.48 | 0.79 | 0.37 | 0.07 | CIA | ||
| -0.12 | 0.25 | 0.29 | 0.42 | 0.34 | 0.07 | GENK | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Pingtan Stock performing well and Pingtan Marine 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 Pingtan Marine'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DLTTF | 0.02 | 0.00 | 0.00 | 0.15 | 0.00 | 0.00 | 0.83 | |||
| NODK | 1.44 | (0.01) | 0.00 | 0.12 | 2.04 | 2.41 | 12.26 | |||
| SBUX | 1.45 | 0.31 | 0.28 | 0.38 | 0.81 | 2.59 | 27.83 | |||
| TRUP | 2.54 | 0.35 | 0.16 | 0.31 | 2.62 | 5.63 | 17.65 | |||
| DENN | 2.51 | 0.06 | 0.04 | 0.16 | 3.63 | 5.85 | 26.32 | |||
| CIA | 3.41 | 1.23 | 0.23 | (11.35) | 4.15 | 8.63 | 34.37 | |||
| GENK | 2.28 | (0.01) | 0.00 | 0.12 | 2.61 | 5.73 | 16.45 |
Pingtan Marine Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pingtan Marine stock to make a market-neutral strategy. Peer analysis of Pingtan Marine could also be used in its relative valuation, which is a method of valuing Pingtan Marine by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Pingtan Marine Enterprise?
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