Phoenix New Correlations

FENG Stock

USD 2.17 0.16 6.87%

The current 90-days correlation between Phoenix New Media and Tower Semiconductor is -0.07 (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

Modest diversification

The correlation between Phoenix New Media and DJI is 0.22 (i.e., Modest 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.

Build AI portfolio with Phoenix Stock

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

0.61	WB	Weibo Corp	Pair Corr
0.62	ZH	Zhihu Inc ADR	Pair Corr
0.72	IAC	IAC Inc	Pair Corr
0.78	MAX	MediaAlpha	Pair Corr
0.69	IZEA	IZEA Inc	Pair Corr
0.85	KRKR	36Kr Holdings	Pair Corr
0.67	META	Meta Platforms	Pair Corr
0.62	NRDS	Nerdwallet	Pair Corr

Moving against Phoenix Stock

0.34	SLE	Super League Enterprise	Pair Corr
0.5	SCOR	Comscore	Pair Corr
0.44	LCFYW	Locafy Limited	Pair Corr
0.43	ONFO	Onfolio Holdings	Pair Corr
0.4	NAMI	Jinxin Technology Holding	Pair Corr

Related Correlations Analysis

	ALGT	TSEM	ACLS	UMC	MX	SKYW
ALGT		0.85	0.57	0.49	0.77	0.96	ALGT
TSEM	0.85		0.57	0.52	0.92	0.91	TSEM
ACLS	0.57	0.57		0.93	0.73	0.62	ACLS
UMC	0.49	0.52	0.93		0.68	0.57	UMC
MX	0.77	0.92	0.73	0.68		0.84	MX
SKYW	0.96	0.91	0.62	0.57	0.84		SKYW
	ALGT	TSEM	ACLS	UMC	MX	SKYW

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ALGT	3.29	0.36	0.12	0.30	3.35	(3.77)	6.78	(7.13)	26.79
TSEM	2.33	0.59	0.24	0.96	1.80	(2.73)	6.04	(2.98)	19.54
ACLS	2.90	0.68	0.14	(2.77)	3.56	(3.22)	6.46	(5.43)	22.10
UMC	1.87	0.39	0.14	7.48	1.68	(2.25)	5.03	(3.30)	13.89
MX	2.60	0.58	0.20	0.83	2.24	(3.25)	6.56	(4.46)	17.85
SKYW	1.71	0.42	0.22	0.52	1.51	(2.06)	3.14	(2.74)	19.93

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