Baidu Correlations

BAIDF Stock

USD 18.30 0.10 0.54%

The current 90-days correlation between Baidu Inc and Kuaishou Technology is 0.06 (i.e., Significant diversification). The correlation of Baidu 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.

Baidu Correlation With Market

Very poor diversification

The correlation between Baidu Inc and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baidu Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Baidu Pink Sheet

0.67	GOOG	Alphabet Class C	Pair Corr
0.88	BIDU	Baidu Inc	Pair Corr
0.64	COHG	Cheetah Oil Gas	Pair Corr
0.71	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr
0.62	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.83	DD	Dupont De Nemours	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.76	INTC	Intel	Pair Corr
0.7	MRK	Merck Company	Pair Corr

Moving against Baidu Pink Sheet

0.67	PROSF	Prosus	Pair Corr
0.61	FSTF	First State Financial	Pair Corr
0.53	PROSY	Prosus NV ADR	Pair Corr
0.42	ERHE	ERHC Energy	Pair Corr
0.39	TCEHY	Tencent Holdings	Pair Corr
0.32	TCTZF	Tencent Holdings	Pair Corr
0.31	MMM	3M Company	Pair Corr
0.61	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	KSHTY	KUASF	UNVGY	UMGNF	FNCTF	CLLNY	SWZCF	SCMWY	TLGPY	SNGNF
KSHTY		0.5	-0.38	-0.36	0.37	0.28	0.61	0.61	0.42	0.05	KSHTY
KUASF	0.5		-0.68	-0.68	0.62	0.09	0.62	0.6	0.61	0.27	KUASF
UNVGY	-0.38	-0.68		0.98	-0.77	-0.38	-0.7	-0.71	-0.7	-0.53	UNVGY
UMGNF	-0.36	-0.68	0.98		-0.76	-0.33	-0.71	-0.69	-0.7	-0.54	UMGNF
FNCTF	0.37	0.62	-0.77	-0.76		0.55	0.77	0.78	0.73	0.53	FNCTF
CLLNY	0.28	0.09	-0.38	-0.33	0.55		0.44	0.65	0.6	0.1	CLLNY
SWZCF	0.61	0.62	-0.7	-0.71	0.77	0.44		0.91	0.71	0.59	SWZCF
SCMWY	0.61	0.6	-0.71	-0.69	0.78	0.65	0.91		0.82	0.53	SCMWY
TLGPY	0.42	0.61	-0.7	-0.7	0.73	0.6	0.71	0.82		0.36	TLGPY
SNGNF	0.05	0.27	-0.53	-0.54	0.53	0.1	0.59	0.53	0.36		SNGNF
	KSHTY	KUASF	UNVGY	UMGNF	FNCTF	CLLNY	SWZCF	SCMWY	TLGPY	SNGNF

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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

UMGNF	+ 0.98	UNVGY
SCMWY	+ 0.91	SWZCF
TLGPY	+ 0.82	SCMWY
SCMWY	+ 0.78	FNCTF
SWZCF	+ 0.77	FNCTF
TLGPY	+ 0.73	FNCTF

High negative correlations

FNCTF	- 0.77	UNVGY
FNCTF	- 0.76	UMGNF
SWZCF	- 0.71	UMGNF
SCMWY	- 0.71	UNVGY
TLGPY	- 0.7	UMGNF
TLGPY	- 0.7	UNVGY

Risk-Adjusted Indicators

There is a big difference between Baidu Pink Sheet performing well and Baidu 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 Baidu'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
KSHTY	4.44	(0.06)	0.01	0.07	5.27	(5.59)	11.63	(9.44)	31.70
KUASF	1.27	0.00	0.00	0.09	0.00	0.00	3.71	(6.18)	30.34
UNVGY	1.30	(0.08)	0.00	0.33	0.00	0.00	2.05	(2.64)	10.78
UMGNF	1.41	(0.08)	0.00	0.26	0.00	0.00	2.73	(3.11)	10.44
FNCTF	1.34	0.23	0.05	0.75	1.49	(4.29)	4.50	(2.78)	15.37
CLLNY	1.18	0.10	0.02	0.35	1.48	(1.14)	2.56	(2.59)	7.16
SWZCF	0.90	0.18	0.04	0.56	1.07	(2.51)	3.29	(1.34)	10.18
SCMWY	0.83	0.28	0.19	(1.76)	0.51	(0.97)	2.27	(1.25)	5.47
TLGPY	0.76	0.07	0.03	0.24	0.90	(0.81)	1.50	(1.18)	4.96
SNGNF	1.58	0.46	0.07	(0.45)	1.57	(4.42)	5.69	(3.42)	20.20

Be your own money manager

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