Alibaba Health Correlations

ALBHF Stock

USD 0.65 0.06 8.45%

The current 90-days correlation between Alibaba Health Infor and Walgreens Boots Alliance is 0.27 (i.e., Modest diversification). The correlation of Alibaba Health 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.

Alibaba Health Correlation With Market

Good diversification

The correlation between Alibaba Health Information and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alibaba Health Information and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Alibaba Pink Sheet

0.94	ALBBY	Alibaba Health Infor	Pair Corr
0.65	FINV	FinVolution Group	Pair Corr
0.65	254687FM3	WALT DISNEY CO	Pair Corr
0.66	WM	Waste Management	Pair Corr
0.7	DNSKF	Danske Bank AS	Pair Corr
0.79	GLU	Gabelli Global Utility	Pair Corr

Moving against Alibaba Pink Sheet

0.67	RADLY	Raia Drogasil SA	Pair Corr
0.62	BBGI	Beasley Broadcast	Pair Corr
0.61	BKRKY	Bank Rakyat Normal Trading	Pair Corr
0.61	TLK	Telkom Indonesia Tbk	Pair Corr
0.58	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.49	PTAIY	Astra International Tbk	Pair Corr
0.48	ISPOW	Thayer Ventures Acqu	Pair Corr
0.45	CLCGY	Clicks Group	Pair Corr
0.32	GLE	Global Engine Group Tech Boost	Pair Corr

Related Correlations Analysis

	AEGY	ALST	WBA	ALBBY	DECN	RAD	PETS	HITI	CJJD
AEGY		0.0	0.0	0.0	1.0	0.0	0.0	0.0	0.0	AEGY
ALST	0.0		-0.42	0.12	0.0	0.0	0.06	0.07	0.19	ALST
WBA	0.0	-0.42		0.01	0.0	0.0	-0.19	-0.27	-0.45	WBA
ALBBY	0.0	0.12	0.01		0.0	0.0	-0.68	-0.75	-0.62	ALBBY
DECN	1.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DECN
RAD	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	RAD
PETS	0.0	0.06	-0.19	-0.68	0.0	0.0		0.81	0.82	PETS
HITI	0.0	0.07	-0.27	-0.75	0.0	0.0	0.81		0.79	HITI
CJJD	0.0	0.19	-0.45	-0.62	0.0	0.0	0.82	0.79		CJJD
	AEGY	ALST	WBA	ALBBY	DECN	RAD	PETS	HITI	CJJD

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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

DECN	+ 1.0	AEGY
CJJD	+ 0.82	PETS
HITI	+ 0.81	PETS
CJJD	+ 0.79	HITI
CJJD	+ 0.19	ALST
ALBBY	+ 0.12	ALST

High negative correlations

HITI	- 0.75	ALBBY
PETS	- 0.68	ALBBY
CJJD	- 0.62	ALBBY
CJJD	- 0.45	WBA
WBA	- 0.42	ALST
HITI	- 0.27	WBA

Risk-Adjusted Indicators

There is a big difference between Alibaba Pink Sheet performing well and Alibaba Health 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 Alibaba Health'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
AEGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALST	5.11	0.20	0.01	0.09	7.27	(24.29)	25.00	(20.00)	45.00
WBA	3.07	0.31	0.09	(0.38)	3.40	(3.82)	6.50	(5.06)	37.85
ALBBY	2.96	0.71	0.13	81.24	3.07	(5.16)	8.09	(6.66)	43.10
DECN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RAD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PETS	2.86	(0.31)	0.00	(0.25)	0.00	0.00	5.72	(5.47)	23.41
HITI	2.70	(0.47)	0.00	(3.23)	0.00	0.00	4.26	(5.91)	22.58
CJJD	3.63	(0.37)	0.00	4.89	0.00	0.00	5.56	(7.59)	33.93

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