Nio Correlations

NIO Stock

USD 4.84 0.14 2.98%

The current 90-days correlation between Nio Class A and Li Auto is 0.58 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nio Class A moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nio Correlation With Market

Average diversification

The correlation between Nio Class A and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nio Class A and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nio Class A. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Nio Stock

0.67	LI	Li Auto	Pair Corr
0.64	ECX	ECARX Holdings Class	Pair Corr

Moving against Nio Stock

0.73	ALV	Autoliv	Pair Corr
0.6	CPS	Cooper Stnd	Pair Corr
0.55	F	Ford Motor Aggressive Push	Pair Corr
0.47	GM	General Motors Aggressive Push	Pair Corr
0.43	GGR	Gogoro Inc	Pair Corr
0.42	WKSP	Worksport	Pair Corr
0.37	FFIE	Faraday Future Intel	Pair Corr
0.37	FLYE	Fly E Group,	Pair Corr
0.34	VC	Visteon Corp	Pair Corr
0.33	AXL	American Axle Manufa	Pair Corr
0.31	VLCN	Volcon Inc	Pair Corr
0.49	GNTX	Gentex	Pair Corr
0.49	FL	Foot Locker Earnings Call This Week	Pair Corr
0.46	BH	Biglari Holdings	Pair Corr
0.45	VFSWW	VinFast Auto	Pair Corr
0.4	RIVN	Rivian Automotive Aggressive Push	Pair Corr
0.32	LVWR	LiveWire Group	Pair Corr
0.32	NCNC	noco noco Ordinary	Pair Corr

Related Correlations Analysis

	LI	RIVN	LCID	TSLA	F	XPEV	BYDDY	FSR	MULN
LI		-0.76	-0.39	0.15	-0.21	0.68	0.93	0.07	-0.68	LI
RIVN	-0.76		0.79	-0.5	0.03	-0.82	-0.84	-0.3	0.87	RIVN
LCID	-0.39	0.79		-0.73	-0.21	-0.71	-0.57	-0.21	0.7	LCID
TSLA	0.15	-0.5	-0.73		0.35	0.69	0.27	0.48	-0.49	TSLA
F	-0.21	0.03	-0.21	0.35		0.01	-0.2	0.04	0.12	F
XPEV	0.68	-0.82	-0.71	0.69	0.01		0.81	0.5	-0.84	XPEV
BYDDY	0.93	-0.84	-0.57	0.27	-0.2	0.81		0.21	-0.81	BYDDY
FSR	0.07	-0.3	-0.21	0.48	0.04	0.5	0.21		-0.51	FSR
MULN	-0.68	0.87	0.7	-0.49	0.12	-0.84	-0.81	-0.51		MULN
	LI	RIVN	LCID	TSLA	F	XPEV	BYDDY	FSR	MULN

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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

BYDDY	+ 0.93	LI
MULN	+ 0.87	RIVN
BYDDY	+ 0.81	XPEV
LCID	+ 0.79	RIVN
MULN	+ 0.7	LCID
XPEV	+ 0.69	TSLA

High negative correlations

MULN	- 0.84	XPEV
BYDDY	- 0.84	RIVN
XPEV	- 0.82	RIVN
MULN	- 0.81	BYDDY
RIVN	- 0.76	LI
TSLA	- 0.73	LCID

Risk-Adjusted Indicators

There is a big difference between Nio Stock performing well and Nio 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 Nio'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	3.46	0.10	0.01	0.29	4.88	(3.64)	10.62	(7.65)	25.86
RIVN	2.91	(0.38)	0.00	(0.26)	0.00	0.00	5.29	(6.95)	28.00
LCID	3.01	(0.96)	0.00	(0.78)	0.00	0.00	5.88	(5.96)	30.74
TSLA	3.17	0.59	0.23	0.37	2.64	(3.85)	8.19	(5.77)	28.06
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
XPEV	4.23	0.86	0.16	1.20	4.74	(4.54)	9.00	(7.51)	26.26
BYDDY	2.01	0.26	0.05	(3.51)	2.59	(2.04)	4.99	(4.53)	16.73
FSR	4.49	0.34	0.08	0.33	4.70	(5.02)	9.41	(7.36)	37.41
MULN	9.65	(2.75)	0.00	2.79	0.00	0.00	18.52	(17.65)	100.65

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