MEITUAN UNSPADR2B Correlations

9MDA Stock

EUR 28.40 1.40 5.19%

The current 90-days correlation between MEITUAN UNSPADR2B and Fevertree Drinks PLC is 0.05 (i.e., Significant diversification). The correlation of MEITUAN UNSPADR2B 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.

MEITUAN UNSPADR2B Correlation With Market

Good diversification

The correlation between MEITUAN UNSPADR2B and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MEITUAN UNSPADR2B and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MEITUAN UNSPADR2B could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MEITUAN UNSPADR2B 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 MEITUAN UNSPADR2B - 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 MEITUAN UNSPADR2B to buy it.

Moving together with MEITUAN Stock

0.71	AHLA	Alibaba Group Holdings	Pair Corr
0.97	9MD	Meituan	Pair Corr
0.8	013C	JD Inc	Pair Corr
0.81	013A	JD Inc Adr	Pair Corr

Moving against MEITUAN Stock

0.65	JOT	ELEKTROBIT	Pair Corr
0.61	HEI	Heidelberg Materials	Pair Corr
0.53	SSUN	Samsung Electronics	Pair Corr
0.49	SSUN	Samsung Electronics	Pair Corr
0.48	KBIA	KB Financial Group Earnings Call This Week	Pair Corr
0.47	KGHA	KGHM Polska Miedz	Pair Corr
0.44	SSU	Samsung Electronics	Pair Corr
0.44	SSU	Samsung Electronics	Pair Corr
0.35	788	Coupang	Pair Corr
0.32	AMZ	Amazon Inc	Pair Corr
0.32	AMZ	Amazon Inc	Pair Corr

Related Correlations Analysis

	FV8	07M	MR3	OYC	Z1L	39M	ALK	KY1
FV8		0.2	0.59	0.64	0.89	0.88	0.43	0.03	FV8
07M	0.2		0.31	0.41	0.16	0.14	0.13	-0.14	07M
MR3	0.59	0.31		0.34	0.61	0.57	0.21	0.35	MR3
OYC	0.64	0.41	0.34		0.56	0.75	0.76	0.01	OYC
Z1L	0.89	0.16	0.61	0.56		0.84	0.26	0.02	Z1L
39M	0.88	0.14	0.57	0.75	0.84		0.53	0.16	39M
ALK	0.43	0.13	0.21	0.76	0.26	0.53		0.29	ALK
KY1	0.03	-0.14	0.35	0.01	0.02	0.16	0.29		KY1
	FV8	07M	MR3	OYC	Z1L	39M	ALK	KY1

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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

Z1L	+ 0.89	FV8
39M	+ 0.88	FV8
39M	+ 0.84	Z1L
ALK	+ 0.76	OYC
39M	+ 0.75	OYC
OYC	+ 0.64	FV8

High negative correlations

KY1

- 0.14

07M

Risk-Adjusted Indicators

There is a big difference between MEITUAN Stock performing well and MEITUAN UNSPADR2B 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 MEITUAN UNSPADR2B'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
FV8	1.55	0.16	0.05	0.39	1.71	(1.89)	3.34	(2.88)	10.46
07M	2.11	0.13	0.01	0.36	2.86	(8.92)	9.09	(8.33)	18.18
MR3	0.75	0.04	(0.08)	(0.96)	0.84	(1.00)	1.77	(1.53)	5.59
OYC	2.21	0.50	0.17	2.88	2.05	(2.81)	6.02	(4.05)	16.93
Z1L	1.37	0.17	0.01	(1.07)	1.55	(1.50)	2.89	(2.72)	7.30
39M	0.83	0.17	0.02	(1.37)	0.82	(1.11)	1.86	(1.60)	5.31
ALK	1.97	0.35	0.03	(0.20)	2.70	(2.01)	4.73	(4.98)	15.11
KY1	0.86	0.07	(0.07)	(0.03)	1.27	(1.15)	2.82	(1.38)	9.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in MEITUAN UNSPADR2B 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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