BAIC Correlations

BMCLF Stock

USD 0.32 0.01 3.23%

The current 90-days correlation between BAIC Motor and Guangzhou Automobile Group is 0.07 (i.e., Significant diversification). The correlation of BAIC 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.

BAIC Correlation With Market

Significant diversification

The correlation between BAIC Motor and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BAIC Motor and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BAIC Pink Sheet

0.75	BYDDY	BYD Co	Pair Corr
0.78	BYDDF	BYD Limited Earnings Call This Week	Pair Corr
0.63	VWAGY	Volkswagen AG 110	Pair Corr
0.62	MBGAF	Mercedes Benz Group	Pair Corr
0.63	MBGYY	Mercedes Benz Group	Pair Corr
0.64	VLKPF	Volkswagen AG VZO	Pair Corr
0.63	VWAPY	Volkswagen AG Pref	Pair Corr
0.62	VLKAF	Volkswagen AG	Pair Corr
0.63	BCH	Banco De Chile Normal Trading	Pair Corr
0.66	FFZY	Fansfrenzy Corp	Pair Corr
0.63	MTNOF	MTN Group Limited	Pair Corr
0.75	WBQNL	Woodbridge Liquidation	Pair Corr
0.61	CJEWY	Chow Tai Fook	Pair Corr

Moving against BAIC Pink Sheet

0.74	KB	KB Financial Group	Pair Corr
0.66	SHG	Shinhan Financial	Pair Corr
0.59	NRXP	NRX Pharmaceuticals Earnings Call This Week	Pair Corr
0.51	WKHS	Workhorse Group	Pair Corr

Related Correlations Analysis

	ZAPPW	FHYDF	GNZUF	PEV	SMEBF	EXXRF	NFYEF	VEV
ZAPPW		0.12	-0.54	0.1	0.0	0.37	-0.33	0.0	ZAPPW
FHYDF	0.12		-0.17	0.37	0.0	0.31	-0.18	0.0	FHYDF
GNZUF	-0.54	-0.17		-0.01	0.0	-0.17	0.14	0.0	GNZUF
PEV	0.1	0.37	-0.01		0.0	0.22	-0.16	0.0	PEV
SMEBF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SMEBF
EXXRF	0.37	0.31	-0.17	0.22	0.0		-0.54	0.0	EXXRF
NFYEF	-0.33	-0.18	0.14	-0.16	0.0	-0.54		0.0	NFYEF
VEV	0.0	0.0	0.0	0.0	0.0	0.0	0.0		VEV
	ZAPPW	FHYDF	GNZUF	PEV	SMEBF	EXXRF	NFYEF	VEV

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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

EXXRF	+ 0.37	ZAPPW
PEV	+ 0.37	FHYDF
EXXRF	+ 0.31	FHYDF
EXXRF	+ 0.22	PEV
NFYEF	+ 0.14	GNZUF
FHYDF	+ 0.12	ZAPPW

High negative correlations

NFYEF	- 0.54	EXXRF
GNZUF	- 0.54	ZAPPW
NFYEF	- 0.33	ZAPPW
NFYEF	- 0.18	FHYDF
EXXRF	- 0.17	GNZUF
GNZUF	- 0.17	FHYDF

Risk-Adjusted Indicators

There is a big difference between BAIC Pink Sheet performing well and BAIC 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 BAIC'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
ZAPPW	5.80	0.25	0.05	(0.73)	5.99	(9.41)	13.13	(10.71)	48.21
FHYDF	3.16	0.20	0.06	(3.10)	3.11	(6.73)	8.33	(7.14)	28.53
GNZUF	3.46	0.35	0.05	0.19	3.95	(6.58)	9.76	(7.69)	45.71
PEV	7.30	2.04	0.25	(7.72)	6.04	(12.11)	17.31	(10.00)	120.00
SMEBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EXXRF	1.28	(0.02)	0.00	(0.24)	0.00	0.00	3.45	(2.93)	10.27
NFYEF	2.56	0.03	0.00	(0.04)	0.00	0.00	4.36	(6.21)	23.01
VEV	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 BAIC 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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