ALIBABA Correlations

01609WAT9

91.72 4.91 5.08%

The current 90-days correlation between ALIBABA GROUP HLDG and AEP TEX INC is -0.02 (i.e., Good diversification). The correlation of ALIBABA 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 Correlation With Market

Good diversification

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

The ability to find closely correlated positions to ALIBABA 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 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 - 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 GROUP HLDG to buy it.

Moving against ALIBABA Bond

0.44	MNPR	Monopar Therapeutics	Pair Corr
0.35	OBIL	US Treasury 12	Pair Corr
0.33	GILT	Gilat Satellite Networks	Pair Corr
0.33	MGRC	McGrath RentCorp	Pair Corr
0.33	LALDX	Lord Abbett Short	Pair Corr
0.31	DNA	Ginkgo Bioworks Holdings Upward Rally	Pair Corr
0.31	SSAGX	Virtus Seix Government	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	URBN	SPGI	33767BAC3	UBS	MPLX	HRMY	CHHQY	DCO
00108WAF7		-0.03	0.12	-0.01	-0.11	0.11	0.23	0.06	0.15	0.16	00108WAF7
90331HPL1	-0.03		-0.29	-0.07	0.03	-0.69	-0.42	-0.64	-0.13	-0.47	90331HPL1
URBN	0.12	-0.29		0.19	-0.51	0.2	0.73	0.33	0.78	0.18	URBN
SPGI	-0.01	-0.07	0.19		0.09	0.41	0.67	0.14	0.41	0.55	SPGI
33767BAC3	-0.11	0.03	-0.51	0.09		-0.01	-0.33	-0.28	-0.39	-0.18	33767BAC3
UBS	0.11	-0.69	0.2	0.41	-0.01		0.51	0.68	0.09	0.68	UBS
MPLX	0.23	-0.42	0.73	0.67	-0.33	0.51		0.4	0.81	0.61	MPLX
HRMY	0.06	-0.64	0.33	0.14	-0.28	0.68	0.4		0.1	0.51	HRMY
CHHQY	0.15	-0.13	0.78	0.41	-0.39	0.09	0.81	0.1		0.19	CHHQY
DCO	0.16	-0.47	0.18	0.55	-0.18	0.68	0.61	0.51	0.19		DCO
	00108WAF7	90331HPL1	URBN	SPGI	33767BAC3	UBS	MPLX	HRMY	CHHQY	DCO

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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

CHHQY	+ 0.81	MPLX
CHHQY	+ 0.78	URBN
MPLX	+ 0.73	URBN
HRMY	+ 0.68	UBS
DCO	+ 0.68	UBS
MPLX	+ 0.67	SPGI

High negative correlations

UBS	- 0.69	90331HPL1
HRMY	- 0.64	90331HPL1
33767BAC3	- 0.51	URBN
DCO	- 0.47	90331HPL1
MPLX	- 0.42	90331HPL1
CHHQY	- 0.39	33767BAC3

Risk-Adjusted Indicators

There is a big difference between ALIBABA Bond performing well and ALIBABA Corporate Bond 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'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
00108WAF7	1.53	0.17	0.03	(0.32)	2.23	(1.72)	5.36	(2.57)	15.83
90331HPL1	0.48	(0.02)	0.00	(0.62)	0.00	0.00	1.64	(1.87)	7.38
URBN	2.16	0.70	0.31	2.76	1.57	(2.70)	4.66	(2.99)	24.24
SPGI	0.78	(0.02)	(0.05)	0.03	1.06	(0.79)	1.63	(1.44)	4.29
33767BAC3	1.28	(0.11)	0.00	(0.20)	0.00	0.00	2.09	(2.39)	21.29
UBS	1.16	0.13	0.06	0.34	1.44	(1.30)	3.11	(2.65)	8.46
MPLX	1.06	0.24	0.16	0.94	0.92	(1.26)	2.40	(1.86)	5.25
HRMY	2.22	0.20	0.04	0.34	4.01	(2.30)	3.62	(4.10)	34.59
CHHQY	0.18	0.09	0.00	(1.70)	0.00	0.00	0.00	0.00	6.08
DCO	1.51	0.13	0.04	0.33	1.98	(1.63)	3.18	(4.41)	12.14

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