Alibaba Health Correlations

ALBBY Stock

USD 9.09 0.72 7.34%

The current 90-days correlation between Alibaba Health Infor and Walgreens Boots Alliance is -0.06 (i.e., Good diversification). The correlation of Alibaba Health 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Alibaba Health Correlation With Market

Modest diversification

The correlation between Alibaba Health Information and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alibaba Health Information and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Alibaba Pink Sheet

0.71	RADLY	Raia Drogasil SA	Pair Corr
0.74	ALBHF	Alibaba Health Infor	Pair Corr

Moving against Alibaba Pink Sheet

0.75	YPF	YPF Sociedad Anonima	Pair Corr
0.67	CSMYF	COSMOS Pharmaceutical	Pair Corr
0.53	WBA	Walgreens Boots Alliance	Pair Corr
0.52	NBIS	Nebius Group NV Earnings Call This Week	Pair Corr
0.65	CLEU	China Liberal Education	Pair Corr
0.57	TSLA	Tesla Inc	Pair Corr
0.48	MDXG	MiMedx Group	Pair Corr
0.46	CDXS	Codexis	Pair Corr
0.39	QBTS	D Wave Quantum Buyout Trend	Pair Corr
0.37	RUM	Rumble Inc	Pair Corr
0.36	NOW	ServiceNow	Pair Corr
0.36	AVGO	Broadcom Aggressive Push	Pair Corr
0.32	APTV	Aptiv PLC Sell-off Trend	Pair Corr

Related Correlations Analysis

	AEGY	ALST	WBA	ALBHF	DECN	RAD	PETS	HITI	CJJD
AEGY		0.0	0.0	0.0	1.0	0.0	0.0	0.0	0.0	AEGY
ALST	0.0		-0.61	0.57	0.0	0.0	0.48	0.16	0.47	ALST
WBA	0.0	-0.61		-0.64	0.0	0.0	0.04	0.15	-0.41	WBA
ALBHF	0.0	0.57	-0.64		0.0	0.0	0.21	-0.4	0.16	ALBHF
DECN	1.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DECN
RAD	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	RAD
PETS	0.0	0.48	0.04	0.21	0.0	0.0		0.37	0.06	PETS
HITI	0.0	0.16	0.15	-0.4	0.0	0.0	0.37		0.15	HITI
CJJD	0.0	0.47	-0.41	0.16	0.0	0.0	0.06	0.15		CJJD
	AEGY	ALST	WBA	ALBHF	DECN	RAD	PETS	HITI	CJJD

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DECN	+ 1.0	AEGY
ALBHF	+ 0.57	ALST
PETS	+ 0.48	ALST
CJJD	+ 0.47	ALST
HITI	+ 0.37	PETS
PETS	+ 0.21	ALBHF

High negative correlations

ALBHF	- 0.64	WBA
WBA	- 0.61	ALST
CJJD	- 0.41	WBA
HITI	- 0.4	ALBHF
CJJD	- 0.0	RAD
HITI	- 0.0	RAD

Risk-Adjusted Indicators

There is a big difference between Alibaba Pink Sheet performing well and Alibaba Health 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 Alibaba Health'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
AEGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALST	5.05	(0.05)	0.00	0.00	7.50	(25.28)	25.00	(20.00)	68.57
WBA	3.51	0.33	0.08	0.35	3.71	(4.12)	5.33	(5.06)	37.85
ALBHF	3.32	(0.05)	0.00	(0.06)	0.00	0.00	10.64	(8.89)	30.51
DECN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RAD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PETS	3.29	0.01	0.00	0.04	3.64	(3.77)	9.19	(5.47)	23.14
HITI	2.97	0.10	0.02	0.23	3.56	(3.04)	7.44	(5.46)	22.09
CJJD	3.23	(0.68)	0.00	(0.57)	0.00	0.00	5.42	(7.21)	33.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in Alibaba Health 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.

Did you try this?

Run Premium Stories Now

Premium Stories

Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope

All Next

Launch Module

Alibaba Health Corporate Management

Yanwu Tu	CFO Director	Profile
Ka Chun	Company Sec	Profile
Shunyan Zhu	Chairman CEO	Profile
Difan Shen	COO Director	Profile
Chun Kwong	Financial Controller	Profile
Chun Yan	Company Sec	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC