Nio Correlations

NIO Stock

USD 4.78 0.08 1.65%

The current 90-days correlation between Nio Class A and Rivian Automotive is 0.09 (i.e., Significant 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

Weak diversification

The correlation between Nio Class A and DJI is 0.31 (i.e., Weak 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.

Build AI portfolio with Nio Stock

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

0.84	LOT	Lotus Technology American	Pair Corr
0.8	600006	Dongfeng Automobile	Pair Corr
0.71	RACE	Ferrari NV	Pair Corr
0.74	000625	Chongqing Changan	Pair Corr
0.87	TRNR	Interactive Strength	Pair Corr

Moving against Nio Stock

0.84	GM	General Motors	Pair Corr
0.82	RIVN	Rivian Automotive	Pair Corr
0.82	MCHB	Mechanics Bank Symbol Change	Pair Corr
0.76	601238	Guangzhou Automobile	Pair Corr
0.65	000572	Haima Automobile	Pair Corr
0.64	F	Ford Motor	Pair Corr
0.62	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.54	DB	Deutsche Bank AG	Pair Corr
0.5	BRK-A	Berkshire Hathaway	Pair Corr
0.34	CYCC	CYCC Old Symbol Change	Pair Corr
0.33	000980	Zotye Automobile	Pair Corr
0.89	ARVN	Arvinas	Pair Corr
0.88	LCDX	Caliber Imaging Diag	Pair Corr
0.86	FTV	Fortive Corp	Pair Corr
0.84	SYF	Synchrony Financial	Pair Corr
0.84	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.83	DGWPF	Drgerwerk AG	Pair Corr
0.83	NAUFF	NevGold Corp	Pair Corr
0.73	CASXF	Casa Minerals	Pair Corr
0.73	BROS	Dutch Bros	Pair Corr
0.7	SMXWW	SMX Public Limited	Pair Corr
0.7	TMSNY	Temenos Group AG	Pair Corr
0.69	PLTK	Playtika Holding Corp	Pair Corr
0.63	MEOAF	Melbana Energy	Pair Corr
0.55	CTOWY	China TowerLimited	Pair Corr
0.52	BNXAF	Banxa Holdings Tech Boost	Pair Corr
0.51	EDRVY	EDP Renovveis SA	Pair Corr
0.4	FHELF	First Helium	Pair Corr

Related Correlations Analysis

	RIVN	HMC	APTV	LI	GPC	BBY	DKS	YUMC	PKG	BURL
RIVN		-0.47	-0.58	-0.79	-0.45	-0.72	-0.58	0.8	0.03	0.31	RIVN
HMC	-0.47		0.78	0.58	0.6	0.56	0.6	-0.52	0.5	-0.23	HMC
APTV	-0.58	0.78		0.84	0.59	0.61	0.78	-0.8	0.49	-0.2	APTV
LI	-0.79	0.58	0.84		0.65	0.54	0.74	-0.9	0.42	-0.28	LI
GPC	-0.45	0.6	0.59	0.65		0.27	0.68	-0.46	0.53	-0.55	GPC
BBY	-0.72	0.56	0.61	0.54	0.27		0.57	-0.56	-0.15	-0.25	BBY
DKS	-0.58	0.6	0.78	0.74	0.68	0.57		-0.74	0.24	-0.3	DKS
YUMC	0.8	-0.52	-0.8	-0.9	-0.46	-0.56	-0.74		-0.19	0.21	YUMC
PKG	0.03	0.5	0.49	0.42	0.53	-0.15	0.24	-0.19		0.0	PKG
BURL	0.31	-0.23	-0.2	-0.28	-0.55	-0.25	-0.3	0.21	0.0		BURL
	RIVN	HMC	APTV	LI	GPC	BBY	DKS	YUMC	PKG	BURL

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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

LI	+ 0.84	APTV
YUMC	+ 0.8	RIVN
APTV	+ 0.78	HMC
DKS	+ 0.78	APTV
DKS	+ 0.74	LI
DKS	+ 0.68	GPC

High negative correlations

YUMC	- 0.9	LI
YUMC	- 0.8	APTV
LI	- 0.79	RIVN
YUMC	- 0.74	DKS
BBY	- 0.72	RIVN
DKS	- 0.58	RIVN

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
RIVN	3.21	0.41	0.14	0.28	3.15	(3.74)	10.70	(6.11)	31.17
HMC	1.07	(0.11)	0.00	(0.04)	0.00	0.00	1.79	(2.54)	6.24
APTV	1.43	(0.23)	0.00	(0.07)	0.00	0.00	2.88	(2.67)	7.91
LI	1.56	(0.64)	0.00	(0.61)	0.00	0.00	1.89	(3.65)	7.04
GPC	1.00	(0.22)	0.00	(0.20)	0.00	0.00	2.05	(1.80)	5.58
BBY	1.49	(0.26)	0.00	(0.06)	0.00	0.00	3.36	(2.63)	13.01
DKS	1.51	(0.28)	0.00	(0.09)	0.00	0.00	2.88	(3.41)	14.16
YUMC	1.06	0.12	0.05	0.74	1.14	(1.14)	2.39	(1.83)	5.02
PKG	1.10	(0.08)	0.00	(0.02)	0.00	0.00	2.37	(2.19)	8.20
BURL	1.93	0.25	0.07	0.37	2.95	(1.86)	4.41	(3.30)	20.77

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