Phoenix New Correlations

FENG Stock  USD 2.33  0.01  0.43%   
The current 90-days correlation between Phoenix New Media and Cheetah Mobile is -0.09 (i.e., Good diversification). The correlation of Phoenix New 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.

Phoenix New Correlation With Market

Weak diversification

The correlation between Phoenix New Media and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Phoenix New Media and DJI in the same portfolio, assuming nothing else is changed.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Phoenix New Media. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Phoenix Stock

  0.64Z Zillow Group ClassPairCorr
  0.61WB Weibo CorpPairCorr
  0.64ZG Zillow GroupPairCorr
  0.69IAC IAC IncPairCorr
  0.74MAX MediaAlphaPairCorr
  0.63TME Tencent Music EntertPairCorr
  0.61GOOG Alphabet Class C Earnings Call This WeekPairCorr
  0.68IZEA IZEA IncPairCorr
  0.81KRKR 36Kr HoldingsPairCorr
  0.68META Meta PlatformsPairCorr
  0.62NRDS NerdwalletPairCorr

Moving against Phoenix Stock

  0.38CCG Cheche Group Class Earnings Call This WeekPairCorr
  0.35SLE Super League EnterprisePairCorr
  0.35GIFT RDE, Inc Symbol ChangePairCorr
  0.53SEAT Vivid SeatsPairCorr
  0.5LCFYW Locafy Limited TrendingPairCorr
  0.41ONFOW Onfolio Holdings WarrantPairCorr

Related Correlations Analysis

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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   
TOURTHRY
VNETCMCM
ASSTCMCM
THRYASST
VNETASST
TOURASST
  
High negative correlations   
LITBASST
TOURCMCM
LITBTHRY
LITBCMCM
VNETLITB
THRYCMCM

Risk-Adjusted Indicators

There is a big difference between Phoenix Stock performing well and Phoenix New 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 Phoenix New'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.