Pinduoduo Correlations
| 9PDA Stock | EUR 95.20 5.30 5.27% |
The current 90-days correlation between Pinduoduo and Alibaba Group Holdings is 0.68 (i.e., Poor diversification). The correlation of Pinduoduo 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.
Pinduoduo Correlation With Market
Good diversification
The correlation between Pinduoduo and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pinduoduo and DJI in the same portfolio, assuming nothing else is changed.
Pinduoduo |
The ability to find closely correlated positions to Pinduoduo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pinduoduo 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 Pinduoduo - 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 Pinduoduo to buy it.
Moving together with Pinduoduo Stock
| 0.94 | AHLA | Alibaba Group Holdings | PairCorr |
| 0.8 | 9MDA | MEITUAN UNSPADR/2B Earnings Call Today | PairCorr |
| 0.83 | 9MD | Meituan Earnings Call Today | PairCorr |
| 0.9 | 013C | JD Inc | PairCorr |
| 0.91 | 013A | JD Inc Adr | PairCorr |
| 0.67 | EBA | eBay Inc | PairCorr |
| 0.7 | 9EE | ZINZINO AB B | PairCorr |
| 0.66 | DBPE | Xtrackers LevDAX | PairCorr |
Moving against Pinduoduo Stock
Related Correlations Analysis
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Pinduoduo Corporate Management
Elected by the shareholders, the Pinduoduo's board of directors comprises two types of representatives: Pinduoduo inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Pinduoduo. The board's role is to monitor Pinduoduo's management team and ensure that shareholders' interests are well served. Pinduoduo's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Pinduoduo's outside directors are responsible for providing unbiased perspectives on the board's policies.