Kuke Music Correlations

KUKE Stock

USD 2.85 0.35 14.00%

The current 90-days correlation between Kuke Music Holding and Cinemark Holdings is 0.16 (i.e., Average diversification). The correlation of Kuke Music 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.

Kuke Music Correlation With Market

Significant diversification

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

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kuke Music Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Kuke Stock

0.72	EEX	Emerald Expositions	Pair Corr
0.65	MCS	Marcus	Pair Corr
0.71	OB	Outbrain	Pair Corr
0.77	ZD	Ziff Davis	Pair Corr
0.63	DOYU	DouYu International Earnings Call Tomorrow	Pair Corr
0.74	VSME	VS Media Holdings	Pair Corr

Moving against Kuke Stock

0.8	VZ	Verizon Communications	Pair Corr
0.7	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.64	TU	Telus Corp	Pair Corr
0.62	KT	KT Corporation	Pair Corr
0.61	WB	Weibo Corp	Pair Corr
0.55	SE	Sea	Pair Corr
0.45	IQ	iQIYI Inc	Pair Corr
0.38	CHTR	Charter Communications	Pair Corr
0.36	CURIW	CuriosityStream	Pair Corr
0.72	EVER	EverQuote Class A	Pair Corr
0.71	ZH	Zhihu Inc ADR Earnings Call Tomorrow	Pair Corr
0.57	YY	YY Inc Class	Pair Corr
0.54	CCG	Cheche Group Class	Pair Corr
0.51	BATRK	Atlanta Braves Holdings,	Pair Corr
0.46	BATRA	Atlanta Braves Holdings,	Pair Corr
0.38	BCE	BCE Inc	Pair Corr

Related Correlations Analysis

	CNK	NWS	MCS	FWONA	WMG	MSGS	WWE	EDR	LYV	MANU
CNK		0.2	0.9	0.54	-0.3	0.8	0.0	0.71	0.41	0.88	CNK
NWS	0.2		0.34	0.77	0.7	-0.17	0.0	0.55	0.79	-0.13	NWS
MCS	0.9	0.34		0.72	-0.11	0.77	0.0	0.72	0.65	0.8	MCS
FWONA	0.54	0.77	0.72		0.36	0.3	0.0	0.74	0.91	0.32	FWONA
WMG	-0.3	0.7	-0.11	0.36		-0.54	0.0	0.11	0.39	-0.56	WMG
MSGS	0.8	-0.17	0.77	0.3	-0.54		0.0	0.43	0.24	0.94	MSGS
WWE	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	WWE
EDR	0.71	0.55	0.72	0.74	0.11	0.43	0.0		0.61	0.51	EDR
LYV	0.41	0.79	0.65	0.91	0.39	0.24	0.0	0.61		0.22	LYV
MANU	0.88	-0.13	0.8	0.32	-0.56	0.94	0.0	0.51	0.22		MANU
	CNK	NWS	MCS	FWONA	WMG	MSGS	WWE	EDR	LYV	MANU

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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

MANU	+ 0.94	MSGS
LYV	+ 0.91	FWONA
MCS	+ 0.9	CNK
MANU	+ 0.88	CNK
MSGS	+ 0.8	CNK
MANU	+ 0.8	MCS

High negative correlations

MANU	- 0.56	WMG
MSGS	- 0.54	WMG
WMG	- 0.3	CNK
MSGS	- 0.17	NWS
MANU	- 0.13	NWS
WMG	- 0.11	MCS

Risk-Adjusted Indicators

There is a big difference between Kuke Stock performing well and Kuke Music 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 Kuke Music'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
CNK	1.40	(0.26)	0.00	(0.58)	0.00	0.00	2.78	(2.67)	17.24
NWS	0.91	0.03	0.00	(0.04)	0.00	0.00	1.78	(1.92)	8.72
MCS	1.47	(0.26)	0.00	(0.33)	0.00	0.00	2.16	(2.95)	15.15
FWONA	1.37	(0.05)	0.00	(0.12)	0.00	0.00	2.34	(3.51)	11.33
WMG	1.21	0.04	0.04	0.02	1.67	(1.23)	2.89	(2.11)	8.84
MSGS	1.00	(0.21)	0.00	(0.40)	0.00	0.00	1.65	(2.35)	6.74
WWE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EDR	1.39	(0.01)	0.00	(0.08)	0.00	0.00	3.14	(2.68)	16.90
LYV	1.37	(0.07)	0.00	(0.14)	0.00	0.00	2.43	(3.82)	10.06
MANU	1.29	(0.32)	0.00	(0.94)	0.00	0.00	2.37	(2.88)	6.86

Kuke Music Corporate Management

Hoi CFA	Chief Officer	Profile
He Yu	Chairman Founder	Profile
Li Sun	President	Profile
Li Li	Chief Officer	Profile

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