Phoenix New Correlations
| FENG Stock | USD 1.76 0.02 1.12% |
The current 90-days correlation between Phoenix New Media and Cheetah Mobile is 0.15 (i.e., Average diversification). The correlation of Phoenix New 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.
Phoenix New Correlation With Market
Pay attention - limited upside
The correlation between Phoenix New Media and DJI is -0.75 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Phoenix New Media and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Phoenix Stock
| 0.69 | BZ | Kanzhun Ltd ADR | PairCorr |
| 0.77 | TC | TuanChe ADR | PairCorr |
| 0.82 | YQ | 17 Education Technology | PairCorr |
| 0.94 | 1PX | PHOENIX NEW MEDADR | PairCorr |
| 0.84 | 2UA | Auto Trader Group | PairCorr |
| 0.86 | AD1 | Adneo | PairCorr |
| 0.84 | 3ZD | ZOOMD TECHNOLOGIES LTD | PairCorr |
| 0.74 | 639 | Spotify Technology | PairCorr |
| 0.78 | DUO | Fangdd Network Group | PairCorr |
| 0.83 | IPM | Intelligent Protection | PairCorr |
| 0.63 | MAX | MediaAlpha Earnings Call This Week | PairCorr |
| 0.86 | FDV | Frontier Digital Ventures | PairCorr |
| 0.86 | SLE | Super League Enterprise | PairCorr |
Moving against Phoenix Stock
| 0.89 | LOCAL | Solocal Group SA Earnings Call This Week | PairCorr |
| 0.69 | EB | Eventbrite Class A | PairCorr |
| 0.57 | BILD | Builddirect Tehcnologies | PairCorr |
| 0.52 | ABEA | Alphabet Class A | PairCorr |
| 0.51 | FB2A | Meta Platforms | PairCorr |
| 0.5 | IAC | IAC Inc | PairCorr |
| 0.47 | 0YYA | JOYY INCSPADR20 CLA | PairCorr |
| 0.67 | B1C | Baidu Inc | PairCorr |
| 0.62 | B1CB | Baidu Inc | PairCorr |
| 0.6 | GOOG | Alphabet Class C | PairCorr |
| 0.51 | 4LRA | IAC INC DL | PairCorr |
| 0.46 | META | Meta Platforms CDR | PairCorr |
| 0.35 | GITS | Global Interactive | PairCorr |
Related Correlations Analysis
| 0.72 | 0.45 | -0.28 | 0.48 | -0.32 | CMCM | ||
| 0.72 | 0.75 | -0.24 | 0.84 | -0.56 | ASST | ||
| 0.45 | 0.75 | -0.47 | 0.77 | -0.81 | THRY | ||
| -0.28 | -0.24 | -0.47 | -0.41 | 0.63 | LITB | ||
| 0.48 | 0.84 | 0.77 | -0.41 | -0.66 | TOUR | ||
| -0.32 | -0.56 | -0.81 | 0.63 | -0.66 | VNET | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Phoenix Stock performing well and Phoenix New 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 Phoenix New'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CMCM | 2.90 | (0.45) | 0.00 | (0.18) | 0.00 | 7.02 | 35.79 | |||
| ASST | 6.15 | (1.78) | 0.00 | (0.55) | 0.00 | 16.28 | 35.94 | |||
| THRY | 2.73 | (0.90) | 0.00 | (0.45) | 0.00 | 4.32 | 14.37 | |||
| LITB | 4.08 | (0.07) | 0.00 | (0.02) | 0.00 | 11.46 | 28.17 | |||
| TOUR | 1.96 | (0.38) | 0.00 | (0.38) | 0.00 | 2.94 | 18.86 | |||
| VNET | 3.09 | 0.52 | 0.15 | 0.38 | 3.21 | 9.21 | 21.08 |