Alibaba Group Correlations

BABA Stock

USD 85.58 1.19 1.37%

The current 90-days correlation between Alibaba Group Holding and PDD Holdings is 0.68 (i.e., Poor diversification). The correlation of Alibaba Group 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.

Alibaba Group Correlation With Market

Average diversification

The correlation between Alibaba Group Holding and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alibaba Group Holding and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alibaba Group Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Alibaba Stock

0.62	W	Wayfair	Pair Corr
0.67	BQ	Boqii Holding Limited	Pair Corr
0.78	HD	Home Depot	Pair Corr
0.93	JD	JD Inc Adr	Pair Corr
0.63	LE	Lands End	Pair Corr
0.62	RH	RH	Pair Corr
0.97	VIPS	Vipshop Holdings	Pair Corr
0.75	EBAY	eBay Inc	Pair Corr
0.78	WOOF	Pet Acquisition LLC Earnings Call This Week	Pair Corr
0.8	FNKO	Funko Inc	Pair Corr

Moving against Alibaba Stock

0.57	FL	Foot Locker Earnings Call This Week	Pair Corr
0.5	AAP	Advance Auto Parts	Pair Corr
0.41	ETSY	Etsy Inc	Pair Corr
0.62	AZI	Autozi Internet Tech	Pair Corr
0.55	CAL	Continental	Pair Corr
0.43	BGI	Birks Group	Pair Corr
0.41	DKS	Dicks Sporting Goods	Pair Corr
0.38	PAG	Penske Automotive	Pair Corr

Related Correlations Analysis

	PDD	MELI	JD	SE	VIPS	JMIA	GLBE	ETSY
PDD		-0.13	0.79	0.48	0.82	0.55	0.13	-0.37	PDD
MELI	-0.13		-0.12	-0.31	-0.04	0.31	-0.28	0.13	MELI
JD	0.79	-0.12		0.71	0.9	0.34	0.38	-0.57	JD
SE	0.48	-0.31	0.71		0.5	-0.22	0.83	-0.54	SE
VIPS	0.82	-0.04	0.9	0.5		0.52	0.18	-0.4	VIPS
JMIA	0.55	0.31	0.34	-0.22	0.52		-0.5	-0.02	JMIA
GLBE	0.13	-0.28	0.38	0.83	0.18	-0.5		-0.36	GLBE
ETSY	-0.37	0.13	-0.57	-0.54	-0.4	-0.02	-0.36		ETSY
	PDD	MELI	JD	SE	VIPS	JMIA	GLBE	ETSY

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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

VIPS	+ 0.9	JD
GLBE	+ 0.83	SE
VIPS	+ 0.82	PDD
JD	+ 0.79	PDD
SE	+ 0.71	JD
JMIA	+ 0.55	PDD

High negative correlations

ETSY	- 0.57	JD
ETSY	- 0.54	SE
GLBE	- 0.5	JMIA
ETSY	- 0.4	VIPS
ETSY	- 0.37	PDD
ETSY	- 0.36	GLBE

Risk-Adjusted Indicators

There is a big difference between Alibaba Stock performing well and Alibaba Group 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 Group'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
PDD	3.06	(0.36)	0.00	2.37	0.00	0.00	4.85	(6.40)	29.37
MELI	1.57	(0.10)	(0.03)	0.00	3.63	(1.34)	2.60	(2.84)	20.82
JD	2.72	0.40	0.10	0.64	3.07	(3.03)	6.76	(6.99)	23.41
SE	1.58	0.52	0.26	2.06	1.32	(1.92)	4.65	(2.50)	12.95
VIPS	1.80	0.05	0.01	0.17	2.17	(2.33)	4.34	(4.47)	17.40
JMIA	3.15	(0.27)	0.00	0.71	0.00	0.00	5.64	(6.04)	28.82
GLBE	1.69	0.42	0.23	0.47	1.39	(1.96)	4.70	(2.91)	9.43
ETSY	1.62	(0.13)	0.00	(0.08)	0.00	0.00	3.33	(4.28)	13.37

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