Phoenix New Correlations

FENG Stock

USD 2.39 0.11 4.82%

The correlation of Phoenix New 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.

Phoenix New Correlation With Market

Good diversification

The correlation between Phoenix New Media and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Phoenix New Media 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 Phoenix New Media. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving against Phoenix Stock

0.4

CCG

Cheche Group Class

Pair Corr

Related Correlations Analysis

	ONFO	GROM	LIZI	STBX	MAX	MATH	LCFY	KRKR	TC
ONFO		0.0	0.0	0.44	0.44	-0.3	0.16	-0.17	0.29	ONFO
GROM	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	GROM
LIZI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	LIZI
STBX	0.44	0.0	0.0		0.21	-0.79	0.24	-0.54	0.65	STBX
MAX	0.44	0.0	0.0	0.21		0.0	0.54	0.12	0.41	MAX
MATH	-0.3	0.0	0.0	-0.79	0.0		-0.01	0.32	-0.64	MATH
LCFY	0.16	0.0	0.0	0.24	0.54	-0.01		-0.03	0.41	LCFY
KRKR	-0.17	0.0	0.0	-0.54	0.12	0.32	-0.03		-0.16	KRKR
TC	0.29	0.0	0.0	0.65	0.41	-0.64	0.41	-0.16		TC
	ONFO	GROM	LIZI	STBX	MAX	MATH	LCFY	KRKR	TC

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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

TC	+ 0.65	STBX
LCFY	+ 0.54	MAX
STBX	+ 0.44	ONFO
MAX	+ 0.44	ONFO
TC	+ 0.41	MAX
TC	+ 0.41	LCFY

High negative correlations

MATH	- 0.79	STBX
TC	- 0.64	MATH
KRKR	- 0.54	STBX
MATH	- 0.3	ONFO
KRKR	- 0.17	ONFO
TC	- 0.16	KRKR

Risk-Adjusted Indicators

There is a big difference between Phoenix Stock performing well and Phoenix New 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 Phoenix New'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
ONFO	3.87	(0.36)	0.00	(0.33)	0.00	0.00	7.69	(9.65)	21.57
GROM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIZI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STBX	18.98	2.21	0.22	(0.20)	13.35	(35.85)	17.07	(25.93)	580.66
MAX	2.71	(0.03)	0.00	(0.11)	0.00	0.00	5.77	(6.38)	25.45
MATH	5.75	1.34	0.18	0.56	5.93	(7.11)	18.57	(11.65)	39.23
LCFY	4.39	(0.10)	0.00	(1.80)	0.00	0.00	11.18	(7.77)	30.93
KRKR	7.23	1.23	0.13	6.10	8.81	(9.15)	12.33	(16.38)	154.10
TC	4.01	(0.08)	0.00	(0.13)	0.00	0.00	11.24	(8.40)	29.23

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