Baidu Correlations

BIDU Stock

USD 94.27 3.97 4.04%

The current 90-days correlation between Baidu Inc and Tencent Music Entertainment is 0.44 (i.e., Very weak diversification). The correlation of Baidu 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.

Baidu Correlation With Market

Average diversification

The correlation between Baidu Inc and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baidu Inc 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 Baidu Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Baidu Stock

0.83	WB	Weibo Corp	Pair Corr
0.63	YY	YY Inc Class	Pair Corr
0.81	TME	Tencent Music Entert	Pair Corr
0.71	JFIN	Jiayin Group Trending	Pair Corr

Moving against Baidu Stock

0.68	DJT	Trump Media Technology Symbol Change	Pair Corr
0.62	MNY	MoneyHero Limited Class	Pair Corr
0.61	DJTWW	Trump Media Technology Symbol Change	Pair Corr
0.59	GITS	Global Interactive Symbol Change	Pair Corr
0.57	SLE	Super League Enterprise Earnings Call This Week	Pair Corr
0.5	TC	TuanChe ADR	Pair Corr
0.5	GOOG	Alphabet Class C	Pair Corr
0.47	FVRR	Fiverr International	Pair Corr
0.44	OB	Outbrain	Pair Corr
0.43	SEATW	Vivid Seats Warrant	Pair Corr
0.42	MNYWW	MoneyHero Limited	Pair Corr
0.38	YELP	Yelp Inc	Pair Corr
0.64	BZFDW	BuzzFeed	Pair Corr
0.62	PODC	Courtside Group, Common	Pair Corr
0.6	SNAP	Snap Inc	Pair Corr
0.59	SEAT	Vivid Seats	Pair Corr
0.57	LCFY	Locafy Upward Rally	Pair Corr
0.52	SSTK	Shutterstock	Pair Corr
0.51	GOOGL	Alphabet Class A	Pair Corr
0.48	NRDS	Nerdwallet Potential Growth	Pair Corr
0.43	TBLAW	Taboola Warrant	Pair Corr

Related Correlations Analysis

	TME	TWLO	SPOT	WB	PINS	SNAP	GOOGL	META	GOOG	FVRR
TME		0.01	0.59	0.85	0.55	-0.64	-0.66	0.3	-0.65	-0.56	TME
TWLO	0.01		0.48	0.13	0.51	0.31	0.43	0.84	0.44	0.36	TWLO
SPOT	0.59	0.48		0.72	0.74	-0.3	-0.3	0.74	-0.29	-0.38	SPOT
WB	0.85	0.13	0.72		0.61	-0.61	-0.57	0.44	-0.56	-0.58	WB
PINS	0.55	0.51	0.74	0.61		-0.18	-0.28	0.85	-0.27	-0.15	PINS
SNAP	-0.64	0.31	-0.3	-0.61	-0.18		0.84	0.11	0.84	0.61	SNAP
GOOGL	-0.66	0.43	-0.3	-0.57	-0.28	0.84		0.13	1.0	0.65	GOOGL
META	0.3	0.84	0.74	0.44	0.85	0.11	0.13		0.14	0.1	META
GOOG	-0.65	0.44	-0.29	-0.56	-0.27	0.84	1.0	0.14		0.65	GOOG
FVRR	-0.56	0.36	-0.38	-0.58	-0.15	0.61	0.65	0.1	0.65		FVRR
	TME	TWLO	SPOT	WB	PINS	SNAP	GOOGL	META	GOOG	FVRR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

GOOG	+ 1.0	GOOGL
WB	+ 0.85	TME
META	+ 0.85	PINS
META	+ 0.84	TWLO
GOOGL	+ 0.84	SNAP
GOOG	+ 0.84	SNAP

High negative correlations

GOOGL	- 0.66	TME
GOOG	- 0.65	TME
SNAP	- 0.64	TME
SNAP	- 0.61	WB
FVRR	- 0.58	WB
GOOGL	- 0.57	WB

Risk-Adjusted Indicators

There is a big difference between Baidu Stock performing well and Baidu 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 Baidu'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
TME	2.56	0.37	0.15	(1.01)	2.67	(3.01)	6.56	(4.39)	21.82
TWLO	2.48	0.06	0.00	(0.04)	0.00	0.00	3.77	(6.81)	35.14
SPOT	2.23	0.40	0.18	(0.74)	2.57	(2.60)	5.39	(4.62)	21.29
WB	2.19	0.07	0.05	3.31	2.67	(2.20)	4.82	(4.94)	11.06
PINS	2.11	0.10	0.04	0.03	2.46	(2.62)	5.04	(4.63)	26.52
SNAP	2.46	(0.30)	0.00	(0.33)	0.00	0.00	4.41	(5.85)	14.86
GOOGL	1.48	(0.20)	0.00	(0.34)	0.00	0.00	2.65	(3.60)	10.89
META	1.59	(0.03)	0.00	(0.11)	0.00	0.00	2.57	(3.73)	8.90
GOOG	1.46	(0.19)	0.00	(0.32)	0.00	0.00	2.50	(3.54)	10.48
FVRR	2.48	(0.39)	0.00	1.03	0.00	0.00	4.54	(6.69)	14.07

Baidu Corporate Management

Shanshan Cui	Senior Administration	Profile
Rong Luo	Executive Group	Profile
Zhenyu Li	Senior IDG	Profile
Juan Lin	Director Relations	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC