BAIDU Correlations

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The current 90-days correlation between BAIDU INC 4125 and AEP TEX INC is -0.14 (i.e., Good diversification). The correlation of BAIDU 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.

BAIDU Correlation With Market

Good diversification

The correlation between BAIDU INC 4125 and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BAIDU INC 4125 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BAIDU could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BAIDU 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 BAIDU - 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 BAIDU INC 4125 to buy it.

Moving together with BAIDU Bond

0.69	VRT	Vertiv Holdings	Pair Corr
0.61	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.69	NDAQ	Nasdaq Inc	Pair Corr
0.66	T	ATT Inc Aggressive Push	Pair Corr
0.74	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.65	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.63	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.65	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.7	BAC	Bank of America Aggressive Push	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.61	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against BAIDU Bond

0.69	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.61	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.49	PG	Procter Gamble	Pair Corr
0.38	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	NDAQ	VRT	AXP	INTC	PFE	JPM	JNJ	MCD
00108WAF7		-0.07	0.0	-0.12	-0.06	-0.15	-0.07	-0.04	0.12	-0.11	00108WAF7
90331HPL1	-0.07		-0.43	-0.28	-0.25	-0.06	0.51	-0.37	0.28	0.39	90331HPL1
NDAQ	0.0	-0.43		0.84	0.85	0.71	-0.85	0.86	-0.8	-0.06	NDAQ
VRT	-0.12	-0.28	0.84		0.94	0.88	-0.7	0.77	-0.83	0.29	VRT
AXP	-0.06	-0.25	0.85	0.94		0.87	-0.68	0.8	-0.79	0.28	AXP
INTC	-0.15	-0.06	0.71	0.88	0.87		-0.59	0.65	-0.81	0.34	INTC
PFE	-0.07	0.51	-0.85	-0.7	-0.68	-0.59		-0.85	0.85	0.29	PFE
JPM	-0.04	-0.37	0.86	0.77	0.8	0.65	-0.85		-0.75	-0.12	JPM
JNJ	0.12	0.28	-0.8	-0.83	-0.79	-0.81	0.85	-0.75		0.03	JNJ
MCD	-0.11	0.39	-0.06	0.29	0.28	0.34	0.29	-0.12	0.03		MCD
	00108WAF7	90331HPL1	NDAQ	VRT	AXP	INTC	PFE	JPM	JNJ	MCD

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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

AXP	+ 0.94	VRT
INTC	+ 0.88	VRT
INTC	+ 0.87	AXP
JPM	+ 0.86	NDAQ
AXP	+ 0.85	NDAQ
JNJ	+ 0.85	PFE

High negative correlations

JPM	- 0.85	PFE
PFE	- 0.85	NDAQ
JNJ	- 0.83	VRT
JNJ	- 0.81	INTC
JNJ	- 0.8	NDAQ
JNJ	- 0.79	AXP

Risk-Adjusted Indicators

There is a big difference between BAIDU Bond performing well and BAIDU 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 BAIDU'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	1.31	0.10	0.01	0.38	1.57	(1.42)	3.24	(2.55)	10.75
90331HPL1	0.32	(0.06)	0.00	(0.26)	0.00	0.00	0.32	(0.85)	6.98
NDAQ	0.79	0.16	0.12	0.37	0.74	(0.90)	1.86	(1.73)	5.20
VRT	2.39	0.61	0.23	0.43	2.36	(2.65)	5.87	(4.39)	20.36
AXP	1.24	0.08	0.11	0.17	1.12	(1.33)	2.83	(2.19)	9.79
INTC	2.36	0.04	0.07	0.14	2.58	(2.68)	6.36	(3.50)	18.29
PFE	1.03	(0.20)	0.00	(0.37)	0.00	0.00	2.17	(2.45)	8.17
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
JNJ	0.61	(0.10)	0.00	(0.37)	0.00	0.00	1.40	(1.42)	3.25
MCD	0.72	(0.02)	(0.05)	0.09	1.30	(0.65)	1.46	(1.18)	6.70

Be your own money manager

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