Xiaomi Corp Correlations

XIACY Stock

USD 22.62 0.71 3.24%

The current 90-days correlation between Xiaomi Corp ADR and Xiaomi Corp is 0.96 (i.e., Almost no diversification). The correlation of Xiaomi Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Xiaomi Corp Correlation With Market

Significant diversification

The correlation between Xiaomi Corp ADR and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xiaomi Corp ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Xiaomi Pink Sheet

0.74	SNEJF	Sony Corp	Pair Corr
1.0	XIACF	Xiaomi Corp	Pair Corr
0.81	PCRFF	Panasonic Corp	Pair Corr
0.68	COHG	Cheetah Oil Gas	Pair Corr
0.82	FSTF	First State Financial	Pair Corr
0.77	NTDOF	Nintendo	Pair Corr
0.66	OOMA	Ooma Inc	Pair Corr
0.8	C	Citigroup Aggressive Push	Pair Corr
0.82	BB	BlackBerry Downward Rally	Pair Corr
0.71	SMFG	Sumitomo Mitsui Financial	Pair Corr
0.69	BILL	Bill Com Holdings	Pair Corr
0.81	RR	Richtech Robotics Class Downward Rally	Pair Corr
0.74	KR	Kroger Company	Pair Corr
0.91	AVXL	Anavex Life Sciences	Pair Corr
0.91	AAL	American Airlines Earnings Call This Week	Pair Corr
0.74	WBD	Warner Bros Discovery	Pair Corr
0.89	DLNG	Dynagas LNG Partners	Pair Corr
0.86	GRRR	Gorilla Technology Tech Boost	Pair Corr

Moving against Xiaomi Pink Sheet

0.77	KYOCF	Kyocera	Pair Corr
0.42	38148YAA6	US38148YAA64	Pair Corr
0.5	ESHAR	ESH Acquisition Corp	Pair Corr
0.37	BSLKW	Bolt Projects Holdings, Symbol Change	Pair Corr

Related Correlations Analysis

	SSNLF	SHCAY	LPL	UEIC	VOXX	HEAR	SHCAF	XIACF	TCLHF
SSNLF		0.0	0.0	0.0	0.0	0.0	-1.0	0.0	0.0	SSNLF
SHCAY	0.0		0.24	-0.19	0.21	-0.33	0.0	-0.41	-0.22	SHCAY
LPL	0.0	0.24		-0.76	0.25	-0.54	0.0	-0.87	-0.41	LPL
UEIC	0.0	-0.19	-0.76		-0.27	0.25	0.0	0.57	-0.02	UEIC
VOXX	0.0	0.21	0.25	-0.27		-0.08	0.0	-0.28	-0.12	VOXX
HEAR	0.0	-0.33	-0.54	0.25	-0.08		0.0	0.53	0.42	HEAR
SHCAF	-1.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SHCAF
XIACF	0.0	-0.41	-0.87	0.57	-0.28	0.53	0.0		0.67	XIACF
TCLHF	0.0	-0.22	-0.41	-0.02	-0.12	0.42	0.0	0.67		TCLHF
	SSNLF	SHCAY	LPL	UEIC	VOXX	HEAR	SHCAF	XIACF	TCLHF

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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

TCLHF	+ 0.67	XIACF
XIACF	+ 0.57	UEIC
XIACF	+ 0.53	HEAR
TCLHF	+ 0.42	HEAR
VOXX	+ 0.25	LPL
HEAR	+ 0.25	UEIC

High negative correlations

SHCAF	- 1.0	SSNLF
XIACF	- 0.87	LPL
UEIC	- 0.76	LPL
HEAR	- 0.54	LPL
TCLHF	- 0.41	LPL
XIACF	- 0.41	SHCAY

Risk-Adjusted Indicators

There is a big difference between Xiaomi Pink Sheet performing well and Xiaomi Corp 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 Xiaomi Corp'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
SSNLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SHCAY	2.87	(0.08)	0.00	(0.26)	0.00	0.00	8.82	(6.83)	20.98
LPL	1.62	(0.23)	0.00	(1.22)	0.00	0.00	2.43	(3.63)	10.87
UEIC	2.26	0.42	0.19	0.56	2.02	(2.91)	3.64	(3.82)	36.22
VOXX	2.12	0.10	0.03	0.39	2.84	(2.44)	4.31	(6.18)	22.88
HEAR	2.25	0.26	0.10	(237.00)	2.32	(2.58)	5.20	(3.58)	16.47
SHCAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XIACF	2.10	0.56	0.22	3.63	2.09	(2.40)	4.52	(3.94)	14.38
TCLHF	2.58	0.21	0.02	0.35	3.69	(5.89)	6.45	(8.57)	23.50

Be your own money manager

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