Xiaomi Corp Correlations

XIACY Stock

USD 36.33 0.22 0.61%

The current 90-days correlation between Xiaomi Corp ADR and Xiaomi Corp is 0.96 (i.e., Almost no diversification). The correlation of Xiaomi Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Xiaomi Corp Correlation With Market

Weak diversification

The correlation between Xiaomi Corp ADR and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xiaomi Corp ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Xiaomi Pink Sheet

1.0	XIACF	Xiaomi Corp	Pair Corr
0.63	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.66	HNFSB	Hanover Foods	Pair Corr
0.7	RKDA	Arcadia Biosciences	Pair Corr
0.78	DHIL	Diamond Hill Investment	Pair Corr
0.68	TR	Tootsie Roll Industries Earnings Call This Week	Pair Corr
0.79	GSBD	Goldman Sachs BDC	Pair Corr
0.78	GOOGL	Alphabet Class A Earnings Call This Week	Pair Corr
0.63	MBGYY	Mercedes Benz Group	Pair Corr
0.83	CLH	Clean Harbors	Pair Corr
0.72	SNEX	Stonex Group	Pair Corr
0.81	A	Agilent Technologies	Pair Corr
0.78	SONO	Sonos Inc	Pair Corr
0.9	BKNG	Booking Holdings	Pair Corr
0.76	UTMD	Utah Medical Products Earnings Call This Week	Pair Corr
0.71	LRMR	Larimar Therapeutics	Pair Corr
0.7	FENG	Phoenix New Media	Pair Corr

Moving against Xiaomi Pink Sheet

0.52

372546AW1

GEORGE WASH UNIV

Pair Corr

Related Correlations Analysis

	XIACF	ZEPP	SSNLF	LPL	MPNGY	MPNGF	GELYY	PNGAY
XIACF		0.35	0.0	0.84	-0.46	-0.49	0.24	0.83	XIACF
ZEPP	0.35		0.0	0.34	-0.44	-0.46	0.32	0.62	ZEPP
SSNLF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SSNLF
LPL	0.84	0.34	0.0		-0.38	-0.32	0.12	0.88	LPL
MPNGY	-0.46	-0.44	0.0	-0.38		0.88	0.15	-0.53	MPNGY
MPNGF	-0.49	-0.46	0.0	-0.32	0.88		0.06	-0.52	MPNGF
GELYY	0.24	0.32	0.0	0.12	0.15	0.06		0.27	GELYY
PNGAY	0.83	0.62	0.0	0.88	-0.53	-0.52	0.27		PNGAY
	XIACF	ZEPP	SSNLF	LPL	MPNGY	MPNGF	GELYY	PNGAY

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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

PNGAY	+ 0.88	LPL
MPNGF	+ 0.88	MPNGY
LPL	+ 0.84	XIACF
PNGAY	+ 0.83	XIACF
PNGAY	+ 0.62	ZEPP
ZEPP	+ 0.35	XIACF

High negative correlations

PNGAY	- 0.53	MPNGY
PNGAY	- 0.52	MPNGF
MPNGF	- 0.49	XIACF
MPNGF	- 0.46	ZEPP
MPNGY	- 0.46	XIACF
MPNGY	- 0.44	ZEPP

Risk-Adjusted Indicators

There is a big difference between Xiaomi Pink Sheet performing well and Xiaomi Corp 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 Xiaomi Corp'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
XIACF	2.09	0.25	0.15	0.33	1.69	(2.63)	4.80	(3.42)	13.53
ZEPP	6.58	3.29	0.72	(2.41)	2.87	(9.13)	16.78	(6.98)	76.96
SSNLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LPL	1.46	0.18	0.07	0.34	2.02	(1.64)	3.56	(2.83)	14.24
MPNGY	2.06	(0.17)	0.00	(0.30)	0.00	0.00	4.98	(3.72)	10.11
MPNGF	2.37	(0.27)	0.00	(3.01)	0.00	0.00	4.71	(5.93)	16.72
GELYY	1.86	0.19	0.04	0.61	2.58	(1.99)	4.15	(3.64)	15.84
PNGAY	1.30	0.25	0.15	0.49	1.10	(1.58)	4.18	(2.16)	12.22

Be your own money manager

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