Meituan Correlations

MPNGF Stock

USD 10.45 0.40 3.98%

The current 90-days correlation between Meituan and Industria de Diseno is 0.2 (i.e., Modest diversification). The correlation of Meituan 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.

Meituan Correlation With Market

Average diversification

The correlation between Meituan and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meituan and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Meituan Pink Sheet

0.85	MPNGY	Meituan ADR	Pair Corr
0.64	CVNA	Carvana Earnings Call Tomorrow	Pair Corr
0.7	ANF	Abercrombie Fitch	Pair Corr

Moving against Meituan Pink Sheet

0.52	KB	KB Financial Group	Pair Corr
0.51	SHG	Shinhan Financial	Pair Corr
0.8	MXCHY	Orbia Advance Corp	Pair Corr
0.51	482480AN0	KLAC 525 15	Pair Corr
0.5	LINE	Lineage Common Stock Earnings Call This Week	Pair Corr
0.49	LAND	Gladstone Land Earnings Call This Week	Pair Corr
0.42	WF	Woori Financial Group	Pair Corr
0.38	CYD	China Yuchai Interna Earnings Call This Week	Pair Corr
0.34	JLHL	Julong Holding Upward Rally	Pair Corr
0.31	MASS	908 Devices	Pair Corr
0.76	MEGI	MainStay CBRE Global	Pair Corr
0.56	WELL	Welltower	Pair Corr
0.42	TLOFF	Talon Metals Corp	Pair Corr
0.4	037833BX7	APPLE INC 465	Pair Corr
0.4	SHIP	Seanergy Maritime	Pair Corr
0.38	EMMA	Emmaus Life Sciences	Pair Corr

Related Correlations Analysis

	ANCTF	IDEXY	JDCMF	MBGAF	MBGYY	WFAFF	WFAFY	NCLTF	BAMXF	BYMOF
ANCTF		0.59	-0.09	0.1	0.09	-0.49	0.49	0.43	0.0	0.0	ANCTF
IDEXY	0.59		-0.25	0.59	0.57	-0.5	0.46	0.14	0.36	0.0	IDEXY
JDCMF	-0.09	-0.25		-0.05	-0.08	0.21	-0.09	-0.04	-0.15	0.0	JDCMF
MBGAF	0.1	0.59	-0.05		0.99	-0.29	-0.04	0.05	0.55	0.0	MBGAF
MBGYY	0.09	0.57	-0.08	0.99		-0.25	-0.06	0.06	0.55	0.0	MBGYY
WFAFF	-0.49	-0.5	0.21	-0.29	-0.25		0.09	-0.41	0.0	0.0	WFAFF
WFAFY	0.49	0.46	-0.09	-0.04	-0.06	0.09		0.11	-0.12	0.0	WFAFY
NCLTF	0.43	0.14	-0.04	0.05	0.06	-0.41	0.11		0.27	0.0	NCLTF
BAMXF	0.0	0.36	-0.15	0.55	0.55	0.0	-0.12	0.27		0.0	BAMXF
BYMOF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BYMOF
	ANCTF	IDEXY	JDCMF	MBGAF	MBGYY	WFAFF	WFAFY	NCLTF	BAMXF	BYMOF

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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

MBGYY	+ 0.99	MBGAF
IDEXY	+ 0.59	ANCTF
MBGAF	+ 0.59	IDEXY
MBGYY	+ 0.57	IDEXY
BAMXF	+ 0.55	MBGAF
BAMXF	+ 0.55	MBGYY

High negative correlations

WFAFF	- 0.5	IDEXY
WFAFF	- 0.49	ANCTF
NCLTF	- 0.41	WFAFF
WFAFF	- 0.29	MBGAF
WFAFF	- 0.25	MBGYY
JDCMF	- 0.25	IDEXY

Risk-Adjusted Indicators

There is a big difference between Meituan Pink Sheet performing well and Meituan 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 Meituan'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
ANCTF	1.32	0.32	0.24	0.47	0.96	(1.59)	3.20	(1.97)	7.01
IDEXY	1.13	0.37	0.31	0.70	0.68	(1.37)	2.23	(1.65)	12.49
JDCMF	3.74	0.18	0.02	0.31	4.99	(8.08)	14.96	(14.71)	34.12
MBGAF	1.11	0.10	0.06	0.23	1.30	(1.16)	3.01	(2.13)	7.68
MBGYY	1.10	0.11	0.06	0.30	1.23	(1.23)	2.79	(2.33)	7.87
WFAFF	0.97	0.32	0.00	(2.61)	0.00	0.00	1.46	0.00	32.08
WFAFY	1.03	0.27	0.20	(7.34)	0.98	(1.17)	2.17	(1.81)	5.19
NCLTF	2.89	0.69	0.05	(0.21)	3.62	(14.79)	13.06	(9.64)	42.21
BAMXF	1.45	0.06	0.01	0.17	1.89	(2.60)	5.73	(4.63)	14.89
BYMOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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