Meituan Correlations

MPNGF Stock

USD 13.50 0.49 3.77%

The current 90-days correlation between Meituan and Industria de Diseno is 0.15 (i.e., Average diversification). The correlation of Meituan 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.

Meituan Correlation With Market

Average diversification

The correlation between Meituan and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meituan and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Meituan Pink Sheet

0.89

MPNGY

Meituan ADR

Pair Corr

Moving against Meituan Pink Sheet

0.71	BABAF	Alibaba Group Holding	Pair Corr
0.67	BABA	Alibaba Group Holding	Pair Corr
0.67	UEC	Uranium Energy Corp	Pair Corr
0.6	BK	Bank of New York	Pair Corr
0.6	GS	Goldman Sachs Group	Pair Corr
0.52	JDCMF	Jd Com Inc	Pair Corr
0.52	CPNG	Coupang LLC	Pair Corr
0.52	SLF	Sun Life Financial	Pair Corr
0.52	PLG	Platinum Group Metals	Pair Corr
0.48	PDD	PDD Holdings Earnings Call This Week	Pair Corr
0.38	SIGL	Signal Advance	Pair Corr
0.34	CGUD	Com GuardCom	Pair Corr
0.63	WMT	Walmart Earnings Call This Week	Pair Corr
0.58	IBM	International Business	Pair Corr
0.55	BAC	Bank of America	Pair Corr
0.54	PATH	Uipath Inc	Pair Corr
0.54	AXP	American Express	Pair Corr
0.53	CAT	Caterpillar	Pair Corr
0.4	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.34	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.33	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	ANCTF	IDEXY	JDCMF	MBGAF	MBGYY	WFAFF	WFAFY	NCLTF	BAMXF	BYMOF
ANCTF		-0.05	0.33	-0.61	-0.62	0.0	0.66	-0.02	-0.2	0.0	ANCTF
IDEXY	-0.05		0.5	0.35	0.35	0.0	-0.3	-0.5	-0.58	0.0	IDEXY
JDCMF	0.33	0.5		-0.13	-0.13	0.0	0.14	-0.26	-0.4	0.0	JDCMF
MBGAF	-0.61	0.35	-0.13		1.0	0.0	-0.73	-0.13	0.11	0.0	MBGAF
MBGYY	-0.62	0.35	-0.13	1.0		0.0	-0.74	-0.13	0.11	0.0	MBGYY
WFAFF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	-1.0	WFAFF
WFAFY	0.66	-0.3	0.14	-0.73	-0.74	0.0		0.17	0.14	0.0	WFAFY
NCLTF	-0.02	-0.5	-0.26	-0.13	-0.13	0.0	0.17		0.36	0.0	NCLTF
BAMXF	-0.2	-0.58	-0.4	0.11	0.11	0.0	0.14	0.36		0.0	BAMXF
BYMOF	0.0	0.0	0.0	0.0	0.0	-1.0	0.0	0.0	0.0		BYMOF
	ANCTF	IDEXY	JDCMF	MBGAF	MBGYY	WFAFF	WFAFY	NCLTF	BAMXF	BYMOF

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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

MBGYY	+ 1.0	MBGAF
WFAFY	+ 0.66	ANCTF
JDCMF	+ 0.5	IDEXY
BAMXF	+ 0.36	NCLTF
MBGAF	+ 0.35	IDEXY
MBGYY	+ 0.35	IDEXY

High negative correlations

BYMOF	- 1.0	WFAFF
WFAFY	- 0.74	MBGYY
WFAFY	- 0.73	MBGAF
MBGYY	- 0.62	ANCTF
MBGAF	- 0.61	ANCTF
BAMXF	- 0.58	IDEXY

Risk-Adjusted Indicators

There is a big difference between Meituan Pink Sheet performing well and Meituan 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 Meituan'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
ANCTF	1.12	(0.06)	0.00	(0.06)	0.00	0.00	2.05	(2.20)	10.40
IDEXY	1.11	0.13	0.10	0.20	1.07	(1.31)	2.43	(2.17)	9.43
JDCMF	3.10	0.36	0.03	(3.64)	4.32	(7.45)	10.05	(9.67)	41.57
MBGAF	1.11	0.22	0.08	(0.58)	1.37	(1.14)	2.34	(2.15)	7.94
MBGYY	1.10	0.21	0.08	(0.54)	1.23	(1.18)	2.56	(2.11)	6.98
WFAFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WFAFY	1.25	(0.15)	0.00	(0.18)	0.00	0.00	2.12	(2.60)	11.10
NCLTF	85.46	35.52	0.44	(1.69)	38.62	(270.31)	418.77	(82.04)	582.53
BAMXF	1.72	(0.06)	0.00	(0.10)	0.00	0.00	5.07	(4.91)	14.31
BYMOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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