Nio Correlations

NIO Stock

USD 5.04 0.34 7.23%

The current 90-days correlation between Nio Class A and Rivian Automotive is 0.1 (i.e., Average 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

Excellent diversification

The correlation between Nio Class A and DJI is -0.63 (i.e., Excellent 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 against Nio Stock

0.81	FIBK	First Interstate Ban Normal Trading	Pair Corr
0.76	BNKHF	BOC Hong Kong	Pair Corr
0.75	OBYCF	Obayashi Earnings Call This Week	Pair Corr
0.73	ENS	Enersys Earnings Call This Week	Pair Corr
0.68	YLLXF	Yellow Cake plc	Pair Corr
0.67	THO	Thor Industries	Pair Corr
0.61	SECVY	Seche Environnement	Pair Corr
0.59	JUPGF	Jupiter Gold	Pair Corr
0.56	F	Ford Motor	Pair Corr
0.56	APETF	Alpha Esports Tech	Pair Corr
0.55	TFLM	TFLM	Pair Corr
0.52	RCKY	Rocky Brands	Pair Corr
0.52	RILYL	B Riley Financial	Pair Corr
0.5	SHPHF	Sihuan Pharmaceutical	Pair Corr
0.49	02G	Guangzhou Automobile	Pair Corr
0.46	NFG	National Fuel Gas	Pair Corr
0.42	FCAP	First Capital Downward Rally	Pair Corr
0.38	OMC	Omnicom Group Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RIVN	HMC	APTV	LI	GPC	BBY	DKS	YUMC	PKG	BURL
RIVN		-0.16	0.12	-0.27	-0.45	-0.16	0.11	-0.28	-0.08	0.04	RIVN
HMC	-0.16		0.41	-0.21	0.61	-0.2	0.01	0.49	0.63	0.32	HMC
APTV	0.12	0.41		0.1	0.05	0.04	0.44	0.27	0.31	0.4	APTV
LI	-0.27	-0.21	0.1		-0.31	0.74	0.3	-0.2	-0.49	-0.33	LI
GPC	-0.45	0.61	0.05	-0.31		-0.55	-0.2	0.23	0.8	0.35	GPC
BBY	-0.16	-0.2	0.04	0.74	-0.55		0.42	0.15	-0.74	-0.63	BBY
DKS	0.11	0.01	0.44	0.3	-0.2	0.42		-0.04	-0.33	-0.21	DKS
YUMC	-0.28	0.49	0.27	-0.2	0.23	0.15	-0.04		0.23	0.09	YUMC
PKG	-0.08	0.63	0.31	-0.49	0.8	-0.74	-0.33	0.23		0.72	PKG
BURL	0.04	0.32	0.4	-0.33	0.35	-0.63	-0.21	0.09	0.72		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

PKG	+ 0.8	GPC
BBY	+ 0.74	LI
BURL	+ 0.72	PKG
PKG	+ 0.63	HMC
GPC	+ 0.61	HMC
YUMC	+ 0.49	HMC

High negative correlations

PKG	- 0.74	BBY
BURL	- 0.63	BBY
BBY	- 0.55	GPC
PKG	- 0.49	LI
GPC	- 0.45	RIVN
PKG	- 0.33	DKS

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	2.87	(0.19)	0.00	(0.08)	0.00	0.00	9.81	(6.11)	22.19
HMC	1.21	0.02	0.02	0.10	1.29	(1.37)	2.96	(1.97)	6.42
APTV	1.84	(0.10)	(0.02)	0.02	2.31	(1.88)	3.59	(3.91)	11.51
LI	1.74	(0.16)	0.00	(0.10)	0.00	0.00	3.54	(3.27)	8.72
GPC	1.12	0.21	0.17	0.29	1.03	(1.29)	3.24	(1.66)	7.35
BBY	1.48	(0.31)	0.00	(0.13)	0.00	0.00	3.61	(2.85)	10.22
DKS	1.57	(0.16)	0.00	(0.03)	0.00	0.00	3.42	(3.41)	14.16
YUMC	1.29	0.41	0.28	1.38	0.86	(1.56)	3.15	(1.97)	5.50
PKG	1.19	0.24	0.16	0.35	1.15	(1.36)	3.03	(1.91)	8.20
BURL	1.80	0.17	0.04	0.41	2.95	(1.77)	4.29	(3.49)	17.25

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