EBay Correlations

EBAY34 Stock

BRL 216.09 1.64 0.76%

The current 90-days correlation between eBay Inc and The Trade Desk is -0.08 (i.e., Good diversification). The correlation of EBay 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.

EBay Correlation With Market

Very good diversification

The correlation between eBay Inc and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding eBay Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EBay Stock

0.75	AMZO34	Amazon Inc	Pair Corr
0.65	S2EA34	Sea Limited	Pair Corr
0.77	TSMC34	Taiwan Semiconductor	Pair Corr
0.77	MSFT34	Microsoft	Pair Corr
0.67	GOGL35	Alphabet Earnings Call This Week	Pair Corr
0.78	GOGL34	Alphabet Earnings Call This Week	Pair Corr
0.67	H1SB34	HSBC Holdings plc	Pair Corr
0.77	I1DX34	IDEXX Laboratories,	Pair Corr
0.79	MUTC34	Micron Technology	Pair Corr
0.79	B1CS34	Barclays PLC	Pair Corr
0.84	CSED3	Cruzeiro do Sul	Pair Corr
0.72	F1RA34	Franklin Resources, Earnings Call This Week	Pair Corr
0.75	GPRO34	GoPro Inc	Pair Corr
0.74	BMKS3	Bicicletas Monark	Pair Corr
0.71	C1FG34	Citizens Financial Group,	Pair Corr
0.71	MRFG3	Marfrig Global Foods	Pair Corr
0.62	CVCB3	CVC Brasil Operadora	Pair Corr
0.8	Z2IT34	ZoomInfo Technologies	Pair Corr
0.7	CAON34	Capital One Financial Earnings Call This Week	Pair Corr
0.74	A1PA34	APA Corporation	Pair Corr
0.66	O2NS34	ON Semiconductor	Pair Corr
0.77	L1HX34	L3Harris Technologies, Earnings Call This Week	Pair Corr

Moving against EBay Stock

0.79	BERK34	Berkshire Hathaway	Pair Corr
0.6	JDCO34	JD Inc	Pair Corr
0.51	AAPL34	Apple Inc	Pair Corr
0.39	P1DD34	Pinduoduo	Pair Corr
0.38	BABA34	Alibaba Group Holding	Pair Corr

Related Correlations Analysis

	T2TD34	C1HT34	CHCM34	A1LL34	THGI34	C1FG34	TELB4
T2TD34		0.66	0.6	0.69	0.26	0.7	-0.46	T2TD34
C1HT34	0.66		0.2	0.67	0.71	0.69	-0.6	C1HT34
CHCM34	0.6	0.2		0.3	-0.13	0.25	0.01	CHCM34
A1LL34	0.69	0.67	0.3		0.69	0.82	-0.81	A1LL34
THGI34	0.26	0.71	-0.13	0.69		0.63	-0.74	THGI34
C1FG34	0.7	0.69	0.25	0.82	0.63		-0.8	C1FG34
TELB4	-0.46	-0.6	0.01	-0.81	-0.74	-0.8		TELB4
	T2TD34	C1HT34	CHCM34	A1LL34	THGI34	C1FG34	TELB4

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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

C1FG34	+ 0.82	A1LL34
THGI34	+ 0.71	C1HT34
C1FG34	+ 0.7	T2TD34
A1LL34	+ 0.69	T2TD34
C1FG34	+ 0.69	C1HT34
THGI34	+ 0.69	A1LL34

High negative correlations

TELB4	- 0.81	A1LL34
TELB4	- 0.8	C1FG34
TELB4	- 0.74	THGI34
TELB4	- 0.6	C1HT34
TELB4	- 0.46	T2TD34
THGI34	- 0.13	CHCM34

Risk-Adjusted Indicators

There is a big difference between EBay Stock performing well and EBay 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 EBay'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
T2TD34	2.46	0.69	0.25	2.41	1.92	(3.17)	5.50	(3.88)	20.48
C1HT34	0.98	0.24	0.04	(1.00)	1.00	(2.71)	3.21	(2.30)	17.54
CHCM34	1.82	(0.02)	0.00	0.12	2.27	(2.08)	3.56	(3.93)	18.21
A1LL34	1.69	0.38	0.11	1.16	1.48	(2.49)	4.21	(3.43)	13.94
THGI34	0.07	0.02	0.00	6.28	0.00	0.00	0.00	0.00	2.19
C1FG34	1.05	0.44	0.00	2.49	0.00	0.00	5.94	0.00	14.85
TELB4	1.55	(0.31)	0.00	(9.99)	0.00	0.00	2.72	(3.49)	11.54

Be your own money manager

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