Noah Holdings Correlations

NOAH Stock

USD 10.73 0.17 1.56%

The current 90-days correlation between Noah Holdings and CBH is 0.08 (i.e., Significant diversification). The correlation of Noah Holdings 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.

Noah Holdings Correlation With Market

Average diversification

The correlation between Noah Holdings and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Noah Holdings 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 Noah Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more detail on how to invest in Noah Stock please use our How to Invest in Noah Holdings guide.

Moving together with Noah Stock

0.64	WD	Walker Dunlop	Pair Corr
0.72	BEN	Franklin Resources	Pair Corr
0.66	TROW	T Rowe Price Earnings Call This Week	Pair Corr

Moving against Noah Stock

0.51	ARCC	Ares Capital Earnings Call This Week	Pair Corr
0.5	MAIN	Main Street Capital	Pair Corr
0.46	CNF	CNFinance Holdings	Pair Corr
0.45	GECC	Great Elm Capital	Pair Corr
0.43	GCMG	GCM Grosvenor	Pair Corr
0.42	ARES	Ares Management LP Earnings Call This Week	Pair Corr
0.31	C	Citigroup Earnings Call This Week	Pair Corr
0.52	GL	Globe Life Earnings Call This Week	Pair Corr
0.4	DB	Deutsche Bank AG Earnings Call Today	Pair Corr
0.38	PT	Pintec Technology	Pair Corr

Related Correlations Analysis

	CBH	CXH	IHTA	EOT	NXC	MVT	FMN
CBH		-0.25	0.93	-0.77	-0.83	-0.46	-0.54	CBH
CXH	-0.25		-0.38	0.66	0.34	0.86	0.71	CXH
IHTA	0.93	-0.38		-0.84	-0.87	-0.57	-0.69	IHTA
EOT	-0.77	0.66	-0.84		0.83	0.83	0.87	EOT
NXC	-0.83	0.34	-0.87	0.83		0.64	0.63	NXC
MVT	-0.46	0.86	-0.57	0.83	0.64		0.79	MVT
FMN	-0.54	0.71	-0.69	0.87	0.63	0.79		FMN
	CBH	CXH	IHTA	EOT	NXC	MVT	FMN

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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

IHTA	+ 0.93	CBH
FMN	+ 0.87	EOT
MVT	+ 0.86	CXH
NXC	+ 0.83	EOT
MVT	+ 0.83	EOT
FMN	+ 0.79	MVT

High negative correlations

NXC	- 0.87	IHTA
EOT	- 0.84	IHTA
NXC	- 0.83	CBH
EOT	- 0.77	CBH
FMN	- 0.69	IHTA
MVT	- 0.57	IHTA

Risk-Adjusted Indicators

There is a big difference between Noah Stock performing well and Noah Holdings 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 Noah Holdings' 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
CBH	0.13	0.04	(0.18)	(1.47)	0.00	(0.18)	0.22	(0.22)	0.78
CXH	0.43	(0.01)	(0.10)	(0.04)	0.68	(0.40)	0.76	(1.01)	3.18
IHTA	0.23	0.04	(0.06)	(5.62)	0.25	(0.31)	0.68	(0.27)	2.03
EOT	0.46	(0.07)	0.00	(0.72)	0.00	0.00	0.87	(1.01)	2.88
NXC	0.43	(0.06)	0.00	(0.25)	0.00	0.00	0.82	(0.97)	3.97
MVT	0.55	(0.04)	0.00	(0.10)	0.00	0.00	1.18	(1.14)	2.90
FMN	0.53	(0.09)	0.00	(0.38)	0.00	0.00	1.07	(1.15)	2.60

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