Kuke Music Correlations

KUKE Stock

USD 2.93 0.03 1.01%

The current 90-days correlation between Kuke Music Holding and Liberty Media is 0.09 (i.e., Significant diversification). The correlation of Kuke Music 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.

Kuke Music Correlation With Market

Good diversification

The correlation between Kuke Music Holding and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kuke Music Holding and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Kuke Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kuke Music 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 industry.

Moving together with Kuke Stock

0.8	NCTY	The9 Ltd ADR	Pair Corr
0.65	ABLV	Able View Global	Pair Corr
0.84	WIMI	WiMi Hologram Cloud	Pair Corr

Moving against Kuke Stock

0.79	TU	Telus Corp	Pair Corr
0.79	WB	Weibo Corp	Pair Corr
0.76	TV	Grupo Televisa SAB Earnings Call Today	Pair Corr
0.74	SPHR	Sphere Entertainment	Pair Corr
0.72	DIS	Walt Disney	Pair Corr
0.71	MGNI	Magnite	Pair Corr
0.71	TC	TuanChe ADR	Pair Corr
0.67	NXST	Nexstar Broadcasting	Pair Corr
0.62	TOON	Kartoon Studios,	Pair Corr
0.61	MSGE	Madison Square Garden	Pair Corr
0.52	SE	Sea	Pair Corr
0.51	SY	So Young International Trending	Pair Corr
0.5	Z	Zillow Group Class	Pair Corr
0.49	KT	KT Corporation Potential Growth	Pair Corr
0.46	T	ATT Inc Earnings Call This Week	Pair Corr
0.37	CURIW	CuriosityStream	Pair Corr
0.82	VENU	Venu Holding	Pair Corr
0.67	BATRK	Atlanta Braves Holdings,	Pair Corr
0.67	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.62	BATRA	Atlanta Braves Holdings,	Pair Corr
0.61	VSME	VS Media Holdings	Pair Corr
0.57	DLPN	Dolphin Entertainment	Pair Corr
0.49	ZG	Zillow Group	Pair Corr
0.48	GCLWW	GCL Global Holdings	Pair Corr
0.47	ADV	Advantage Solutions	Pair Corr
0.47	BCE	BCE Inc	Pair Corr
0.46	ADD	Color Star Technology	Pair Corr

Related Correlations Analysis

	FWONA	WMG	MSGS	NWSA	EXPE	MTCH	HLT	BKNG	MAR
FWONA		-0.2	0.65	0.9	0.76	0.57	0.92	0.92	0.92	FWONA
WMG	-0.2		0.36	0.14	0.19	0.33	0.04	-0.07	-0.09	WMG
MSGS	0.65	0.36		0.81	0.61	0.59	0.69	0.59	0.62	MSGS
NWSA	0.9	0.14	0.81		0.83	0.65	0.95	0.9	0.91	NWSA
EXPE	0.76	0.19	0.61	0.83		0.79	0.9	0.88	0.85	EXPE
MTCH	0.57	0.33	0.59	0.65	0.79		0.69	0.72	0.57	MTCH
HLT	0.92	0.04	0.69	0.95	0.9	0.69		0.95	0.97	HLT
BKNG	0.92	-0.07	0.59	0.9	0.88	0.72	0.95		0.93	BKNG
MAR	0.92	-0.09	0.62	0.91	0.85	0.57	0.97	0.93		MAR
	FWONA	WMG	MSGS	NWSA	EXPE	MTCH	HLT	BKNG	MAR

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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

MAR	+ 0.97	HLT
HLT	+ 0.95	NWSA
BKNG	+ 0.95	HLT
MAR	+ 0.93	BKNG
HLT	+ 0.92	FWONA
BKNG	+ 0.92	FWONA

High negative correlations

WMG	- 0.2	FWONA
MAR	- 0.09	WMG
BKNG	- 0.07	WMG

Risk-Adjusted Indicators

There is a big difference between Kuke Stock performing well and Kuke Music 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 Kuke Music'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
FWONA	1.05	0.38	0.20	2.24	0.92	(1.20)	2.32	(1.60)	7.16
WMG	1.25	0.02	(0.01)	0.16	1.94	(1.30)	2.26	(2.34)	10.96
MSGS	1.05	0.06	0.00	0.23	1.32	(1.06)	2.06	(2.04)	8.16
NWSA	0.80	0.09	0.06	0.26	0.76	(0.90)	1.80	(1.47)	4.97
EXPE	1.53	0.17	0.10	0.25	1.83	(1.67)	3.78	(2.49)	11.57
MTCH	1.45	0.11	0.03	0.27	2.16	(1.48)	2.51	(2.26)	12.08
HLT	1.12	0.24	0.23	0.32	0.79	(1.36)	3.11	(1.55)	6.54
BKNG	1.06	0.22	0.16	0.35	0.93	(1.20)	2.79	(1.76)	6.87
MAR	1.19	0.14	0.14	0.24	1.00	(1.49)	2.81	(2.14)	8.55

Kuke Music Corporate Management

Hoi CFA	Chief Officer	Profile
He Yu	Chairman Founder	Profile
Li Sun	President	Profile
Li Li	Chief Officer	Profile

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