FUJIAN AONONG Correlations

603363
  

CNY 15.92  0.11  0.69%   

The correlation of FUJIAN AONONG is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FUJIAN AONONG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FUJIAN AONONG BIOLOGICAL moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to FUJIAN AONONG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FUJIAN AONONG 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 FUJIAN AONONG - 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 FUJIAN AONONG BIOLOGICAL to buy it.

Moving together with FUJIAN AONONG

+0.65000625CHONG QING CHANGANPairCorr
+0.81300772ZHEJIANG WINDEY COPairCorr
+0.68300015AIER EYE HOSPITALPairCorr

Related Correlations

300782
605111
002049
688200
300015
002258
002460
300518
300782
0.39-0.62-0.160.560.620.84-0.73
300782
605111
0.390.050.130.680.550.69-0.12
605111
002049
-0.620.050.62-0.35-0.11-0.420.81
002049
688200
-0.160.130.62-0.430.35-0.20.37
688200
300015
0.560.68-0.35-0.430.290.75-0.35
300015
002258
0.620.55-0.110.350.290.68-0.31
002258
002460
0.840.69-0.42-0.20.750.68-0.56
002460
300518
-0.73-0.120.810.37-0.35-0.31-0.56
300518
300782
605111
002049
688200
300015
002258
002460
300518
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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
002460300782
300518002049
002460300015
002460605111
300015605111
002460002258
  
High negative correlations   
300518300782
002049300782
300518002460
300015688200
002460002049
300518300015

FUJIAN AONONG Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between FUJIAN Stock performing well and FUJIAN AONONG company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze FUJIAN AONONG's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in FUJIAN AONONG 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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Invested in FUJIAN AONONG BIOLOGICAL?

The danger of trading FUJIAN AONONG BIOLOGICAL is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of FUJIAN AONONG is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than FUJIAN AONONG. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile FUJIAN AONONG BIOLOG is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please continue to Trending Equities. Note that the FUJIAN AONONG BIOLOG information on this page should be used as a complementary analysis to other FUJIAN AONONG's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Equity Valuation module to check real value of public entities based on technical and fundamental data.

Other Tools for FUJIAN Stock

When running FUJIAN AONONG BIOLOG price analysis, check to measure FUJIAN AONONG's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy FUJIAN AONONG is operating at the current time. Most of FUJIAN AONONG's value examination focuses on studying past and present price action to predict the probability of FUJIAN AONONG's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move FUJIAN AONONG's price. Additionally, you may evaluate how the addition of FUJIAN AONONG to your portfolios can decrease your overall portfolio volatility.
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