Alibaba Group Correlations

BABA Stock

USD 134.48 0.66 0.49%

The current 90-days correlation between Alibaba Group Holding and PDD Holdings is 0.67 (i.e., Poor diversification). The correlation of Alibaba Group 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 Group Correlation With Market

Average diversification

The correlation between Alibaba Group Holding and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alibaba Group Holding and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alibaba Group 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 bureau of labor statistics.

Moving together with Alibaba Stock

0.83	JD	JD Inc Adr	Pair Corr
0.9	VIPS	Vipshop Holdings	Pair Corr
0.86	AZO	AutoZone	Pair Corr
0.91	PDD	PDD Holdings	Pair Corr
0.89	MELI	MercadoLibre	Pair Corr

Moving against Alibaba Stock

0.91	VSCO	Victorias Secret	Pair Corr
0.91	RENT	Rent the Runway	Pair Corr
0.85	RH	RH Earnings Call Tomorrow	Pair Corr
0.85	XELB	Xcel Brands	Pair Corr
0.84	KSS	Kohls Corp Upward Rally	Pair Corr
0.84	KIRK	Kirklands	Pair Corr
0.74	GLBE	Global E Online	Pair Corr
0.7	ETSY	Etsy Inc	Pair Corr
0.7	FND	Floor Decor Holdings	Pair Corr
0.65	M	Macys Inc	Pair Corr
0.65	LOW	Lowes Companies	Pair Corr
0.58	HD	Home Depot	Pair Corr
0.57	DKS	Dicks Sporting Goods	Pair Corr
0.51	DDS	Dillards	Pair Corr
0.39	BBY	Best Buy	Pair Corr
0.92	UA	Under Armour C	Pair Corr
0.9	OXM	Oxford Industries Earnings Call Tomorrow	Pair Corr
0.88	TPH	TRI Pointe Homes	Pair Corr
0.86	CMG	Chipotle Mexican Grill	Pair Corr
0.81	BZH	Beazer Homes USA	Pair Corr
0.8	HOV	Hovnanian Enterprises	Pair Corr
0.8	MHO	MI Homes	Pair Corr
0.78	KBH	KB Home	Pair Corr
0.78	KTB	Kontoor Brands	Pair Corr
0.77	WING	Wingstop	Pair Corr
0.77	DIN	Dine Brands Global	Pair Corr
0.72	VNCE	Vince Holding Corp	Pair Corr
0.71	MTH	Meritage	Pair Corr
0.63	CCS	Century Communities	Pair Corr
0.35	BH	Biglari Holdings	Pair Corr
0.35	EWCZ	European Wax Center	Pair Corr

Related Correlations Analysis

	PDD	MELI	JD	SE	VIPS	JMIA	GLBE	ETSY
PDD		0.9	0.88	0.88	0.84	-0.62	-0.49	-0.55	PDD
MELI	0.9		0.8	0.86	0.74	-0.64	-0.46	-0.45	MELI
JD	0.88	0.8		0.83	0.9	-0.62	-0.49	-0.56	JD
SE	0.88	0.86	0.83		0.8	-0.55	-0.4	-0.43	SE
VIPS	0.84	0.74	0.9	0.8		-0.77	-0.69	-0.74	VIPS
JMIA	-0.62	-0.64	-0.62	-0.55	-0.77		0.94	0.86	JMIA
GLBE	-0.49	-0.46	-0.49	-0.4	-0.69	0.94		0.84	GLBE
ETSY	-0.55	-0.45	-0.56	-0.43	-0.74	0.86	0.84		ETSY
	PDD	MELI	JD	SE	VIPS	JMIA	GLBE	ETSY

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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

GLBE	+ 0.94	JMIA
MELI	+ 0.9	PDD
VIPS	+ 0.9	JD
JD	+ 0.88	PDD
SE	+ 0.88	PDD
SE	+ 0.86	MELI

High negative correlations

JMIA	- 0.77	VIPS
ETSY	- 0.74	VIPS
GLBE	- 0.69	VIPS
JMIA	- 0.64	MELI
JMIA	- 0.62	JD
JMIA	- 0.62	PDD

Risk-Adjusted Indicators

There is a big difference between Alibaba Stock performing well and Alibaba Group 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 Group'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
PDD	2.23	0.43	0.16	0.89	2.63	(2.65)	5.57	(4.20)	17.18
MELI	1.77	0.29	0.16	0.56	1.82	(2.10)	3.92	(3.20)	12.01
JD	2.50	0.29	0.10	0.36	2.74	(2.69)	5.22	(4.13)	17.44
SE	2.08	0.25	0.09	0.19	2.52	(2.13)	4.09	(4.15)	16.75
VIPS	2.13	0.38	0.18	0.59	1.94	(2.55)	5.76	(3.34)	11.07
JMIA	3.42	(0.66)	0.00	(0.42)	0.00	0.00	5.13	(6.67)	33.90
GLBE	2.13	(0.47)	0.00	(0.36)	0.00	0.00	3.30	(3.94)	21.69
ETSY	1.94	(0.39)	0.00	(0.57)	0.00	0.00	3.95	(4.65)	15.08

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