Xiaomi Correlations

1810N Stock

MXN 75.00 1.00 1.35%

The current 90-days correlation between Xiaomi and CVS Health is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Xiaomi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Xiaomi moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Xiaomi Correlation With Market

Good diversification

The correlation between Xiaomi and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xiaomi and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Xiaomi Stock

0.8	GOOGL	Alphabet Class A	Pair Corr
0.79	GOOG	Alphabet	Pair Corr
0.81	AMZN	Amazon Inc	Pair Corr
0.77	TSLA	Tesla Inc	Pair Corr
0.86	NVDA	NVIDIA	Pair Corr
0.83	MA	Mastercard Incorporated	Pair Corr
0.81	NFLX	Netflix	Pair Corr
0.82	MNST	Monster Beverage Corp	Pair Corr

Moving against Xiaomi Stock

0.72	FSLR	First Solar	Pair Corr
0.6	DHR	Danaher	Pair Corr
0.53	BA	Boeing	Pair Corr

Related Correlations Analysis

	MNST	KBH	GMXT	CTSH	SPORTS	CVS	ROST	MU
MNST		0.61	-0.48	0.86	0.87	0.06	0.72	0.61	MNST
KBH	0.61		-0.46	0.52	0.55	0.44	0.5	0.83	KBH
GMXT	-0.48	-0.46		-0.61	-0.62	-0.31	-0.81	-0.4	GMXT
CTSH	0.86	0.52	-0.61		0.94	-0.08	0.86	0.65	CTSH
SPORTS	0.87	0.55	-0.62	0.94		-0.01	0.87	0.64	SPORTS
CVS	0.06	0.44	-0.31	-0.08	-0.01		0.06	0.38	CVS
ROST	0.72	0.5	-0.81	0.86	0.87	0.06		0.5	ROST
MU	0.61	0.83	-0.4	0.65	0.64	0.38	0.5		MU
	MNST	KBH	GMXT	CTSH	SPORTS	CVS	ROST	MU

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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

SPORTS	+ 0.94	CTSH
SPORTS	+ 0.87	MNST
ROST	+ 0.87	SPORTS
CTSH	+ 0.86	MNST
ROST	+ 0.86	CTSH
MU	+ 0.83	KBH

High negative correlations

ROST	- 0.81	GMXT
SPORTS	- 0.62	GMXT
CTSH	- 0.61	GMXT
GMXT	- 0.48	MNST
GMXT	- 0.46	KBH
MU	- 0.4	GMXT

Risk-Adjusted Indicators

There is a big difference between Xiaomi Stock performing well and Xiaomi 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 Xiaomi'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
MNST	1.00	0.31	0.07	2.71	1.08	(2.06)	3.52	(1.36)	11.51
KBH	0.72	0.20	0.00	0.65	0.00	0.00	0.00	0.00	31.18
GMXT	1.37	(0.14)	0.00	(0.19)	0.00	0.00	2.92	(2.79)	14.26
CTSH	0.14	0.06	0.00	2.79	0.00	0.00	0.00	0.00	4.32
SPORTS	1.16	0.38	0.07	(0.87)	1.51	(1.64)	3.23	(2.47)	12.22
CVS	1.62	(0.03)	0.00	0.10	2.13	(1.72)	2.71	(2.93)	18.37
ROST	2.06	0.53	0.12	(0.53)	2.12	(2.48)	6.29	(3.95)	13.71
MU	2.39	(0.10)	(0.01)	0.06	2.98	(2.49)	4.91	(4.86)	20.67

Be your own money manager

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