Alibaba Health Correlations

TWY Stock

EUR 0.42 0.02 5.00%

The current 90-days correlation between Alibaba Health Infor and Reliance Steel Aluminum is 0.1 (i.e., Average diversification). The correlation of Alibaba Health 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.

Alibaba Health Correlation With Market

Average diversification

The correlation between Alibaba Health Information and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alibaba Health Information and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Alibaba Stock

0.85	TWYA	ALIBHLINFTECUNSPADR	Pair Corr
0.97	TWY	Alibaba Health Infor	Pair Corr

Moving against Alibaba Stock

0.79	5E1	EVS Broadcast Equipment	Pair Corr
0.73	HMO	Hino Motors Earnings Call This Week	Pair Corr
0.72	ASME	ASML Holding NV Earnings Call This Week	Pair Corr
0.71	6GAA	Grupo Aval Acciones	Pair Corr
0.68	93S	SPAREBK 1 NORD	Pair Corr
0.66	SAP	SAP SE	Pair Corr
0.59	E6Q	Gold Road Resources	Pair Corr
0.5	IUI1	Intuitive Surgical	Pair Corr
0.49	4JP	Japan Post Insurance	Pair Corr
0.48	GIB	GSW Immobilien AG	Pair Corr
0.47	W8A	Walgreens Boots Alliance	Pair Corr
0.34	TQR	Beijing Tong Ren	Pair Corr
0.8	WM1	WILLIAMS SONOMA	Pair Corr
0.74	CENN	CENTRICA ADR NEW	Pair Corr
0.71	HBC2	HSBC Holdings plc	Pair Corr
0.69	SXC	Sunny Optical Technology	Pair Corr
0.68	8A2	Altair Engineering	Pair Corr
0.67	BZU	Air New Zealand	Pair Corr
0.64	KGZ	KINGBOARD CHEMICAL	Pair Corr
0.6	IC1B	INTERCONT HOTELS	Pair Corr
0.6	TM2	Sydbank AS	Pair Corr
0.59	ELG	Elmos Semiconductor	Pair Corr
0.57	STD	Standard Chartered PLC	Pair Corr
0.52	NWL	NEWELL RUBBERMAID	Pair Corr
0.52	DBPE	Xtrackers LevDAX	Pair Corr
0.51	06MA	Materialise NV	Pair Corr

Related Correlations Analysis

	W8A	TWY	8SP	39O1	INVN	IUI1	INL	VOW	RS6	3RKU
W8A		-0.47	-0.07	-0.58	0.07	0.51	-0.54	0.56	-0.39	0.58	W8A
TWY	-0.47		0.21	0.63	-0.32	-0.53	0.57	-0.1	0.3	-0.75	TWY
8SP	-0.07	0.21		0.53	-0.1	-0.39	-0.14	0.33	-0.07	-0.31	8SP
39O1	-0.58	0.63	0.53		-0.14	-0.71	0.37	-0.17	0.36	-0.73	39O1
INVN	0.07	-0.32	-0.1	-0.14		0.53	-0.19	-0.37	0.47	0.64	INVN
IUI1	0.51	-0.53	-0.39	-0.71	0.53		-0.13	-0.08	0.2	0.8	IUI1
INL	-0.54	0.57	-0.14	0.37	-0.19	-0.13		-0.48	0.64	-0.52	INL
VOW	0.56	-0.1	0.33	-0.17	-0.37	-0.08	-0.48		-0.73	-0.07	VOW
RS6	-0.39	0.3	-0.07	0.36	0.47	0.2	0.64	-0.73		-0.04	RS6
3RKU	0.58	-0.75	-0.31	-0.73	0.64	0.8	-0.52	-0.07	-0.04		3RKU
	W8A	TWY	8SP	39O1	INVN	IUI1	INL	VOW	RS6	3RKU

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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

3RKU	+ 0.8	IUI1
3RKU	+ 0.64	INVN
RS6	+ 0.64	INL
39O1	+ 0.63	TWY
3RKU	+ 0.58	W8A
INL	+ 0.57	TWY

High negative correlations

3RKU	- 0.75	TWY
RS6	- 0.73	VOW
3RKU	- 0.73	39O1
IUI1	- 0.71	39O1
39O1	- 0.58	W8A
INL	- 0.54	W8A

Risk-Adjusted Indicators

There is a big difference between Alibaba Stock performing well and Alibaba Health 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 Alibaba Health'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
W8A	3.30	0.30	0.08	28.37	3.19	(4.34)	7.45	(5.66)	38.22
TWY	2.62	(0.14)	0.00	(0.15)	0.00	0.00	4.65	(6.25)	22.12
8SP	2.09	(0.08)	0.00	(0.10)	0.00	0.00	3.17	(4.56)	20.22
39O1	2.95	(0.60)	0.00	(0.93)	0.00	0.00	7.69	(5.47)	29.56
INVN	2.56	0.21	0.07	0.66	2.73	(3.04)	6.28	(4.84)	14.01
IUI1	1.29	0.45	0.34	1.84	0.80	(1.57)	3.28	(1.91)	10.73
INL	2.46	0.09	0.03	0.17	2.96	(2.65)	7.04	(5.34)	16.28
VOW	1.12	0.03	0.00	(0.22)	1.39	(1.13)	2.81	(2.16)	5.55
RS6	1.37	0.06	0.02	0.23	1.51	(1.53)	2.92	(2.93)	15.24
3RKU	1.50	0.58	0.35	2.24	0.99	(2.19)	3.92	(1.92)	9.54

Be your own money manager

Our tools can tell you how much better you can do entering a position in Alibaba Health 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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Alibaba Health Corporate Management

Elected by the shareholders, the Alibaba Health's board of directors comprises two types of representatives: Alibaba Health inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Alibaba. The board's role is to monitor Alibaba Health's management team and ensure that shareholders' interests are well served. Alibaba Health's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Alibaba Health's outside directors are responsible for providing unbiased perspectives on the board's policies.

Yanwu Tu	CFO Director	Profile
Ka Chun	Company Sec	Profile
Shunyan Zhu	Chairman CEO	Profile
Chun Kwong	Financial Controller	Profile
Chun Yan	Company Sec	Profile

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