BYD Company Correlations

BYDDF Stock

USD 35.25 0.17 0.48%

The current 90-days correlation between BYD Limited and Li Auto is -0.13 (i.e., Good diversification). The correlation of BYD Company 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.

BYD Company Correlation With Market

Modest diversification

The correlation between BYD Company Limited and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BYD Company Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BYD Pink Sheet

0.87	BYDDY	BYD Co	Pair Corr
0.65	MBGAF	Mercedes Benz Group	Pair Corr
0.65	MBGYY	Mercedes Benz Group	Pair Corr

Moving against BYD Pink Sheet

0.64	KNTK	Kinetik Holdings	Pair Corr
0.64	EXCH	Exchange Bankshares	Pair Corr
0.57	PLTR	Palantir Technologies Earnings Call This Week	Pair Corr
0.53	268317AC8	EDF 695 26	Pair Corr
0.49	OB	Outbrain	Pair Corr
0.41	BBAI	BigBearai Holdings Upward Rally	Pair Corr
0.31	ISRMF	iShares MSCI	Pair Corr
0.31	GOOD	Gladstone Commercial	Pair Corr
0.67	ADTN	ADTRAN Inc Buyout Trend	Pair Corr
0.66	TPVG	Triplepoint Venture	Pair Corr
0.66	BAC	Bank of America Sell-off Trend	Pair Corr
0.65	JOBY	Joby Aviation	Pair Corr
0.64	MSTR	MicroStrategy Incorporated Earnings Call This Week	Pair Corr
0.61	PR	Permian Resources Sell-off Trend	Pair Corr
0.6	DAVA	Endava	Pair Corr
0.6	SMID	Smith Midland Corp	Pair Corr
0.6	TGNA	Tegna Inc	Pair Corr
0.53	ARLP	Alliance Resource Fiscal Year End 3rd of February 2025	Pair Corr
0.51	AIR	AAR Corp	Pair Corr
0.51	BTI	British American Tobacco Earnings Call This Week	Pair Corr

Related Correlations Analysis

	LI	XPEV	FSR	RIVN	NIO	LCID	BYDDY	TSLA	ARVL	GOEV
LI		-0.32	-0.73	-0.34	0.77	0.04	0.8	-0.57	-0.1	0.57	LI
XPEV	-0.32		0.49	0.16	-0.29	0.1	0.05	0.38	-0.33	-0.44	XPEV
FSR	-0.73	0.49		0.06	-0.56	-0.22	-0.47	0.28	0.06	-0.32	FSR
RIVN	-0.34	0.16	0.06		-0.53	0.79	-0.42	0.84	0.1	-0.78	RIVN
NIO	0.77	-0.29	-0.56	-0.53		-0.39	0.77	-0.72	0.05	0.75	NIO
LCID	0.04	0.1	-0.22	0.79	-0.39		-0.17	0.63	-0.29	-0.66	LCID
BYDDY	0.8	0.05	-0.47	-0.42	0.77	-0.17		-0.53	-0.25	0.54	BYDDY
TSLA	-0.57	0.38	0.28	0.84	-0.72	0.63	-0.53		-0.04	-0.88	TSLA
ARVL	-0.1	-0.33	0.06	0.1	0.05	-0.29	-0.25	-0.04		0.15	ARVL
GOEV	0.57	-0.44	-0.32	-0.78	0.75	-0.66	0.54	-0.88	0.15		GOEV
	LI	XPEV	FSR	RIVN	NIO	LCID	BYDDY	TSLA	ARVL	GOEV

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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

TSLA	+ 0.84	RIVN
BYDDY	+ 0.8	LI
LCID	+ 0.79	RIVN
NIO	+ 0.77	LI
BYDDY	+ 0.77	NIO
GOEV	+ 0.75	NIO

High negative correlations

GOEV	- 0.88	TSLA
GOEV	- 0.78	RIVN
FSR	- 0.73	LI
TSLA	- 0.72	NIO
GOEV	- 0.66	LCID
TSLA	- 0.57	LI

Risk-Adjusted Indicators

There is a big difference between BYD Pink Sheet performing well and BYD Company 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 BYD Company'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
LI	2.50	(0.21)	0.00	(0.61)	0.00	0.00	5.07	(5.06)	18.65
XPEV	3.53	0.45	0.11	0.55	3.73	(3.84)	8.98	(6.02)	26.26
FSR	4.49	0.58	0.09	(0.94)	4.70	(5.02)	9.41	(7.36)	37.41
RIVN	3.74	0.38	0.08	0.54	4.09	(4.39)	11.15	(6.47)	30.93
NIO	3.07	(0.29)	0.00	(0.40)	0.00	0.00	5.62	(5.30)	20.28
LCID	3.32	0.20	0.03	(2.42)	4.15	(3.42)	8.58	(6.84)	21.67
BYDDY	1.62	(0.07)	0.00	(0.15)	0.00	0.00	3.30	(3.47)	10.32
TSLA	3.70	1.01	0.29	21.46	2.79	(4.72)	8.22	(5.77)	30.20
ARVL	6.16	(0.48)	0.00	1.55	0.00	0.00	11.70	(11.89)	49.91
GOEV	10.24	(4.05)	0.00	3.95	0.00	0.00	26.34	(27.34)	107.21

Be your own money manager

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