Dongfeng Correlations

DNFGF Stock

USD 0.53 0.03 6.00%

The current 90-days correlation between Dongfeng Group and Nio Class A is 0.1 (i.e., Average diversification). The correlation of Dongfeng 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.

Dongfeng Correlation With Market

Good diversification

The correlation between Dongfeng Group and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dongfeng Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Dongfeng Pink Sheet

0.77	LUNR	Intuitive Machines Buyout Trend	Pair Corr
0.8	SOUN	SoundHound AI Trending	Pair Corr
0.85	IONQ	IONQ Inc Trending	Pair Corr
0.84	BBAI	BigBearai Holdings Upward Rally	Pair Corr
0.85	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.74	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.78	APLD	Applied Blockchain	Pair Corr

Moving against Dongfeng Pink Sheet

0.82	PPERY	Bank Mandiri Persero	Pair Corr
0.75	VWAGY	Volkswagen AG 110	Pair Corr
0.75	PPERF	Bank Mandiri Persero	Pair Corr
0.73	VWAPY	Volkswagen AG Pref	Pair Corr
0.72	PBCRY	Bank Central Asia	Pair Corr
0.7	VLKAF	Volkswagen AG	Pair Corr
0.7	BKRKF	PT Bank Rakyat	Pair Corr
0.69	VLKPF	Volkswagen AG VZO	Pair Corr
0.68	PBCRF	PT Bank Central	Pair Corr
0.64	MBGAF	Mercedes Benz Group	Pair Corr
0.64	MBGYY	Mercedes Benz Group	Pair Corr
0.81	BKRKY	Bank Rakyat	Pair Corr
0.66	TLK	Telkom Indonesia Tbk	Pair Corr
0.31	IQ	iQIYI Inc	Pair Corr

Related Correlations Analysis

	XPEV	NIO	LCID	BYDDY	RIVN	F	TM	FSR	MULN
XPEV		-0.02	-0.47	0.48	-0.07	0.04	-0.08	0.33	-0.69	XPEV
NIO	-0.02		0.71	0.52	-0.36	-0.4	0.31	0.03	0.09	NIO
LCID	-0.47	0.71		-0.07	0.11	-0.39	0.43	-0.2	0.56	LCID
BYDDY	0.48	0.52	-0.07		-0.47	-0.27	-0.19	0.46	-0.61	BYDDY
RIVN	-0.07	-0.36	0.11	-0.47		-0.2	0.18	0.04	0.21	RIVN
F	0.04	-0.4	-0.39	-0.27	-0.2		-0.25	-0.19	0.07	F
TM	-0.08	0.31	0.43	-0.19	0.18	-0.25		-0.16	0.18	TM
FSR	0.33	0.03	-0.2	0.46	0.04	-0.19	-0.16		-0.62	FSR
MULN	-0.69	0.09	0.56	-0.61	0.21	0.07	0.18	-0.62		MULN
	XPEV	NIO	LCID	BYDDY	RIVN	F	TM	FSR	MULN

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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

LCID	+ 0.71	NIO
MULN	+ 0.56	LCID
BYDDY	+ 0.52	NIO
BYDDY	+ 0.48	XPEV
FSR	+ 0.46	BYDDY
TM	+ 0.43	LCID

High negative correlations

MULN	- 0.69	XPEV
MULN	- 0.62	FSR
MULN	- 0.61	BYDDY
RIVN	- 0.47	BYDDY
LCID	- 0.47	XPEV
F	- 0.4	NIO

Risk-Adjusted Indicators

There is a big difference between Dongfeng Pink Sheet performing well and Dongfeng 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 Dongfeng'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
XPEV	4.09	0.61	0.12	3.45	4.55	(4.47)	11.89	(7.26)	26.26
NIO	3.55	(0.23)	0.00	0.92	0.00	0.00	10.46	(7.71)	22.29
LCID	3.03	(0.40)	0.00	(2.92)	0.00	0.00	5.88	(7.45)	21.50
BYDDY	2.09	0.19	0.04	(0.48)	2.66	(2.21)	5.74	(4.53)	16.73
RIVN	3.16	0.23	0.04	0.55	4.17	(3.32)	6.75	(6.95)	28.00
F	1.41	(0.08)	0.00	(0.37)	0.00	0.00	2.53	(2.90)	11.21
TM	1.09	(0.03)	(0.04)	(0.01)	1.45	(1.09)	2.69	(2.40)	7.42
FSR	4.49	0.49	0.10	0.69	4.70	(5.02)	9.41	(7.36)	37.41
MULN	8.56	(2.65)	0.00	6.11	0.00	0.00	15.25	(14.60)	100.65

Be your own money manager

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