NIO Correlations

NIOIF Stock

5.26 0.26 4.71%

The current 90-days correlation between NIO Inc and Subaru Corp ADR is 0.02 (i.e., Significant diversification). The correlation of NIO 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.

NIO Correlation With Market

Average diversification

The correlation between NIO Inc and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NIO Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NIO Pink Sheet

0.88	MSFT	Microsoft	Pair Corr
0.73	HPQ	HP Inc	Pair Corr

Moving against NIO Pink Sheet

0.93	BMYMP	Bristol Myers Squibb	Pair Corr
0.91	GOOG	Alphabet Class C	Pair Corr
0.88	FTV	Fortive Corp	Pair Corr
0.85	PPERF	Bank Mandiri Persero	Pair Corr
0.84	PPERY	Bank Mandiri Persero	Pair Corr
0.8	TLK	Telkom Indonesia Tbk	Pair Corr
0.73	PTAIY	Astra International Tbk	Pair Corr
0.71	AAPL	Apple Inc	Pair Corr
0.69	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.37	AVGO	Broadcom	Pair Corr
0.89	MRK	Merck Company	Pair Corr
0.89	CSCO	Cisco Systems	Pair Corr
0.81	WMT	Walmart Common Stock	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.74	BAC	Bank of America Earnings Call This Week	Pair Corr
0.71	XOM	Exxon Mobil Corp	Pair Corr
0.71	AXP	American Express	Pair Corr
0.65	KO	Coca Cola Sell-off Trend	Pair Corr
0.54	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.45	IBM	International Business	Pair Corr
0.44	MMM	3M Company	Pair Corr
0.33	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	FUJHY	GWLLY	FUJHF	EXXRF	RNSDF	PTAIY	POAHF	POAHY	MONRY	MONRF
FUJHY		-0.3	0.59	-0.54	0.76	0.71	0.65	0.63	0.72	0.69	FUJHY
GWLLY	-0.3		-0.5	0.63	-0.46	-0.56	-0.67	-0.62	-0.51	-0.43	GWLLY
FUJHF	0.59	-0.5		-0.47	0.55	0.55	0.75	0.77	0.71	0.7	FUJHF
EXXRF	-0.54	0.63	-0.47		-0.66	-0.66	-0.47	-0.45	-0.61	-0.54	EXXRF
RNSDF	0.76	-0.46	0.55	-0.66		0.89	0.68	0.64	0.65	0.69	RNSDF
PTAIY	0.71	-0.56	0.55	-0.66	0.89		0.73	0.7	0.69	0.73	PTAIY
POAHF	0.65	-0.67	0.75	-0.47	0.68	0.73		0.98	0.68	0.75	POAHF
POAHY	0.63	-0.62	0.77	-0.45	0.64	0.7	0.98		0.68	0.76	POAHY
MONRY	0.72	-0.51	0.71	-0.61	0.65	0.69	0.68	0.68		0.74	MONRY
MONRF	0.69	-0.43	0.7	-0.54	0.69	0.73	0.75	0.76	0.74		MONRF
	FUJHY	GWLLY	FUJHF	EXXRF	RNSDF	PTAIY	POAHF	POAHY	MONRY	MONRF

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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

POAHY	+ 0.98	POAHF
PTAIY	+ 0.89	RNSDF
POAHY	+ 0.77	FUJHF
RNSDF	+ 0.76	FUJHY
MONRF	+ 0.76	POAHY
POAHF	+ 0.75	FUJHF

High negative correlations

POAHF	- 0.67	GWLLY
PTAIY	- 0.66	EXXRF
RNSDF	- 0.66	EXXRF
POAHY	- 0.62	GWLLY
MONRY	- 0.61	EXXRF
PTAIY	- 0.56	GWLLY

Risk-Adjusted Indicators

There is a big difference between NIO Pink Sheet 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
FUJHY	1.38	0.12	0.03	0.84	1.53	(1.65)	2.82	(2.70)	8.83
GWLLY	2.65	(0.12)	0.00	0.33	0.00	0.00	7.22	(6.97)	23.97
FUJHF	2.14	0.14	0.01	(0.36)	2.64	(3.19)	5.56	(5.00)	19.10
EXXRF	1.62	(0.25)	0.00	(0.16)	0.00	0.00	3.36	(3.43)	13.65
RNSDF	0.43	0.19	0.00	0.71	0.00	0.00	0.00	0.00	11.53
PTAIY	1.70	0.28	0.10	0.67	2.09	(1.84)	3.85	(3.09)	11.75
POAHF	1.47	0.21	0.08	0.45	1.53	(1.76)	3.27	(3.39)	11.86
POAHY	1.17	0.23	0.11	7.37	1.10	(1.34)	2.43	(1.72)	7.26
MONRY	1.22	0.04	0.01	0.15	1.42	(1.22)	2.33	(2.48)	6.76
MONRF	0.84	0.19	0.03	0.99	0.97	(3.71)	3.37	(2.25)	12.49

Be your own money manager

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