Alibaba Group Correlations

BABA Stock

USD 120.23 2.93 2.50%

The current 90-days correlation between Alibaba Group Holding and PDD Holdings is 0.5 (i.e., Very weak diversification). The correlation of Alibaba Group 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 Group Correlation With Market

Modest diversification

The correlation between Alibaba Group Holding and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alibaba Group Holding and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alibaba Group Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Alibaba Stock

0.66	AEO	American Eagle Outfitters	Pair Corr
0.64	ROST	Ross Stores	Pair Corr

Moving against Alibaba Stock

0.39	GRPN	Groupon	Pair Corr
0.37	RRR	Red Rock Resorts Earnings Call Tomorrow	Pair Corr
0.35	BKE	Buckle Inc	Pair Corr
0.33	ANF	Abercrombie Fitch	Pair Corr
0.32	FL	Foot Locker	Pair Corr
0.44	CVX	Chevron Corp	Pair Corr
0.39	XOM	Exxon Mobil Corp	Pair Corr
0.38	GITS	Global Interactive Symbol Change	Pair Corr
0.37	JNJ	Johnson Johnson	Pair Corr
0.33	IBM	International Business Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PDD	MELI	JD	SE	VIPS	JMIA	GLBE	ETSY
PDD		0.44	0.15	0.36	0.47	0.19	0.36	-0.26	PDD
MELI	0.44		-0.3	0.88	0.69	0.58	-0.15	0.44	MELI
JD	0.15	-0.3		-0.33	-0.39	-0.49	0.35	-0.46	JD
SE	0.36	0.88	-0.33		0.79	0.62	-0.25	0.65	SE
VIPS	0.47	0.69	-0.39	0.79		0.81	-0.06	0.6	VIPS
JMIA	0.19	0.58	-0.49	0.62	0.81		-0.15	0.63	JMIA
GLBE	0.36	-0.15	0.35	-0.25	-0.06	-0.15		-0.28	GLBE
ETSY	-0.26	0.44	-0.46	0.65	0.6	0.63	-0.28		ETSY
	PDD	MELI	JD	SE	VIPS	JMIA	GLBE	ETSY

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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

SE	+ 0.88	MELI
JMIA	+ 0.81	VIPS
VIPS	+ 0.79	SE
VIPS	+ 0.69	MELI
ETSY	+ 0.65	SE
ETSY	+ 0.63	JMIA

High negative correlations

JMIA	- 0.49	JD
ETSY	- 0.46	JD
VIPS	- 0.39	JD
SE	- 0.33	JD
JD	- 0.3	MELI
ETSY	- 0.28	GLBE

Risk-Adjusted Indicators

There is a big difference between Alibaba Stock performing well and Alibaba Group 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 Group'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
PDD	1.53	0.17	0.04	0.50	2.72	(1.72)	4.22	(2.38)	19.77
MELI	1.48	0.18	0.07	0.41	1.63	(1.57)	3.49	(3.03)	10.83
JD	1.68	(0.24)	0.00	(0.27)	0.00	0.00	4.03	(3.36)	10.55
SE	1.76	0.51	0.18	1.62	1.79	(1.90)	3.58	(3.67)	14.10
VIPS	1.49	0.28	0.13	0.50	1.53	(1.76)	3.99	(2.27)	14.19
JMIA	4.02	1.08	0.32	0.65	3.15	(4.73)	12.37	(5.57)	26.85
GLBE	1.87	(0.11)	(0.01)	0.06	3.75	(1.87)	3.91	(3.41)	28.78
ETSY	2.05	0.41	0.14	0.73	2.12	(2.11)	4.45	(3.99)	11.69

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