New Oriental Correlations

EDU Stock

USD 50.20 1.72 3.31%

The current 90-days correlation between New Oriental Education and Gaotu Techedu DRC is 0.05 (i.e., Significant diversification). The correlation of New Oriental 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.

New Oriental Correlation With Market

Good diversification

The correlation between New Oriental Education and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Oriental Education and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in New Oriental Education. 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 New Stock

0.68	GNS	Genius Group	Pair Corr
0.83	MYND	Myndai,	Pair Corr
0.82	NAMI	Jinxin Technology Holding	Pair Corr

Moving against New Stock

0.73	LRN	Stride Inc	Pair Corr
0.72	YQ	17 Education Technology	Pair Corr
0.72	VSTA	Vasta Platform	Pair Corr
0.69	GHC	Graham Holdings	Pair Corr
0.66	QSG	QuantaSing Group	Pair Corr
0.66	TAL	TAL Education Group Sell-off Trend	Pair Corr
0.54	GSUN	Golden Sun Education	Pair Corr
0.52	UTI	Universal Technical	Pair Corr
0.51	GOTU	Gaotu Techedu DRC	Pair Corr
0.47	DAO	Youdao Inc	Pair Corr
0.44	STG	Sunlands Technology	Pair Corr
0.41	WAFU	Wah Fu Education	Pair Corr
0.33	IH	Ihuman Inc	Pair Corr
0.63	LOPE	Grand Canyon Education	Pair Corr
0.59	LAUR	Laureate Education	Pair Corr
0.58	AFYA	Afya	Pair Corr
0.57	ATGE	Adtalem Global Education	Pair Corr
0.55	LXEH	Lixiang Education Holding	Pair Corr
0.45	LINC	Lincoln Educational	Pair Corr

Related Correlations Analysis

	GOTU	YQ	CHGG	EEIQ	DAO	TAL	STRA	VSTA	TWOU
GOTU		0.68	-0.84	-0.89	0.52	0.69	-0.75	0.82	0.0	GOTU
YQ	0.68		-0.72	-0.75	0.64	0.84	-0.32	0.85	0.0	YQ
CHGG	-0.84	-0.72		0.86	-0.38	-0.63	0.73	-0.92	0.0	CHGG
EEIQ	-0.89	-0.75	0.86		-0.43	-0.65	0.77	-0.87	0.0	EEIQ
DAO	0.52	0.64	-0.38	-0.43		0.85	0.03	0.51	0.0	DAO
TAL	0.69	0.84	-0.63	-0.65	0.85		-0.16	0.79	0.0	TAL
STRA	-0.75	-0.32	0.73	0.77	0.03	-0.16		-0.56	0.0	STRA
VSTA	0.82	0.85	-0.92	-0.87	0.51	0.79	-0.56		0.0	VSTA
TWOU	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		TWOU
	GOTU	YQ	CHGG	EEIQ	DAO	TAL	STRA	VSTA	TWOU

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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

EEIQ	+ 0.86	CHGG
VSTA	+ 0.85	YQ
TAL	+ 0.85	DAO
TAL	+ 0.84	YQ
VSTA	+ 0.82	GOTU
VSTA	+ 0.79	TAL

High negative correlations

VSTA	- 0.92	CHGG
EEIQ	- 0.89	GOTU
VSTA	- 0.87	EEIQ
CHGG	- 0.84	GOTU
EEIQ	- 0.75	YQ
STRA	- 0.75	GOTU

Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New Oriental 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 New Oriental'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
GOTU	3.98	0.61	0.16	1.15	3.68	(4.98)	7.62	(6.81)	38.68
YQ	2.65	0.58	0.20	1.64	2.49	(3.48)	8.51	(4.37)	19.66
CHGG	4.53	(1.52)	0.00	(2.50)	0.00	0.00	8.48	(9.50)	40.50
EEIQ	3.01	(0.41)	0.00	(0.86)	0.00	0.00	4.95	(6.98)	26.36
DAO	3.79	0.22	0.05	0.36	4.51	(4.52)	7.34	(6.22)	60.77
TAL	2.80	0.45	0.15	(1.65)	2.93	(3.08)	7.65	(5.87)	28.79
STRA	1.23	(0.24)	0.00	(0.39)	0.00	0.00	1.54	(2.89)	21.01
VSTA	2.84	0.90	0.21	1.18	3.35	(3.03)	6.27	(6.80)	21.46
TWOU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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