MercadoLibre Correlations

MELI Stock

USD 2,068 1.63 0.08%

The current 90-days correlation between MercadoLibre and PDD Holdings is 0.45 (i.e., Very weak diversification). The correlation of MercadoLibre 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.

MercadoLibre Correlation With Market

Average diversification

The correlation between MercadoLibre and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MercadoLibre 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 MercadoLibre. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more detail on how to invest in MercadoLibre Stock please use our How to Invest in MercadoLibre guide.

Moving together with MercadoLibre Stock

0.8	JD	JD Inc Adr Aggressive Push	Pair Corr
0.72	VIPS	Vipshop Holdings	Pair Corr
0.71	AZO	AutoZone	Pair Corr
0.72	GPC	Genuine Parts	Pair Corr
0.9	PDD	PDD Holdings Buyout Trend	Pair Corr
0.71	BZUN	Baozun Inc	Pair Corr
0.86	EVRI	Everi Holdings	Pair Corr
0.81	AGS	PlayAGS	Pair Corr
0.79	DPZ	Dominos Pizza Common	Pair Corr
0.68	GIL	Gildan Activewear	Pair Corr
0.79	HAS	Hasbro Inc	Pair Corr
0.83	LNW	Light Wonder	Pair Corr
0.88	LTH	Life Time Group	Pair Corr
0.88	MAT	Mattel Inc	Pair Corr

Moving against MercadoLibre Stock

0.83	CAL	Continental	Pair Corr
0.79	GM	General Motors Aggressive Push	Pair Corr
0.72	FIVE	Five Below	Pair Corr
0.72	DHI	DR Horton	Pair Corr
0.67	CMG	Chipotle Mexican Grill	Pair Corr
0.66	DBI	Designer Brands Buyout Trend	Pair Corr
0.63	CRI	Carters	Pair Corr
0.59	DTC	Solo Brands	Pair Corr
0.57	PLCE	Childrens Place	Pair Corr
0.49	VNCE	Vince Holding Corp	Pair Corr
0.49	FUN	Six Flags Entertainment	Pair Corr
0.42	GLBE	Global E Online	Pair Corr
0.37	AAP	Advance Auto Parts	Pair Corr
0.34	WEYS	Weyco Group	Pair Corr
0.83	PVH	PVH Corp	Pair Corr
0.82	NVR	NVR Inc	Pair Corr
0.8	JOUT	Johnson Outdoors	Pair Corr
0.77	WWW	Wolverine World Wide	Pair Corr
0.75	GIII	G III Apparel	Pair Corr
0.69	GOLF	Acushnet Holdings Corp	Pair Corr
0.68	OXM	Oxford Industries Earnings Call This Week	Pair Corr
0.67	PLAY	Dave Busters Enterta	Pair Corr

Related Correlations Analysis

	PDD	JD	BABA	GLBE	SE	JMIA	FTCH	W	CHWY	VIPS
PDD		0.88	0.9	-0.43	0.9	-0.59	0.0	-0.45	0.08	0.83	PDD
JD	0.88		0.82	-0.46	0.83	-0.59	0.0	-0.47	0.09	0.89	JD
BABA	0.9	0.82		-0.72	0.86	-0.83	0.0	-0.7	-0.17	0.89	BABA
GLBE	-0.43	-0.46	-0.72		-0.38	0.92	0.0	0.88	0.57	-0.66	GLBE
SE	0.9	0.83	0.86	-0.38		-0.54	0.0	-0.41	0.13	0.8	SE
JMIA	-0.59	-0.59	-0.83	0.92	-0.54		0.0	0.9	0.31	-0.75	JMIA
FTCH	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	FTCH
W	-0.45	-0.47	-0.7	0.88	-0.41	0.9	0.0		0.43	-0.72	W
CHWY	0.08	0.09	-0.17	0.57	0.13	0.31	0.0	0.43		-0.13	CHWY
VIPS	0.83	0.89	0.89	-0.66	0.8	-0.75	0.0	-0.72	-0.13		VIPS
	PDD	JD	BABA	GLBE	SE	JMIA	FTCH	W	CHWY	VIPS

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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

JMIA	+ 0.92	GLBE
BABA	+ 0.9	PDD
SE	+ 0.9	PDD
W	+ 0.9	JMIA
VIPS	+ 0.89	JD
VIPS	+ 0.89	BABA

High negative correlations

JMIA	- 0.83	BABA
VIPS	- 0.75	JMIA
VIPS	- 0.72	W
GLBE	- 0.72	BABA
W	- 0.7	BABA
VIPS	- 0.66	GLBE

Risk-Adjusted Indicators

There is a big difference between MercadoLibre Stock performing well and MercadoLibre 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 MercadoLibre'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
PDD	2.20	0.37	0.15	0.65	2.61	(2.60)	5.57	(4.20)	17.18
JD	2.47	0.34	0.13	0.36	2.62	(2.75)	5.22	(3.96)	17.44
BABA	2.38	0.80	0.28	1.49	2.36	(2.70)	6.71	(3.78)	18.33
GLBE	2.07	(0.45)	0.00	(0.41)	0.00	0.00	3.14	(3.94)	21.69
SE	2.07	0.23	0.08	0.13	2.55	(2.11)	4.09	(4.15)	16.75
JMIA	3.45	(0.73)	0.00	(0.51)	0.00	0.00	5.13	(6.67)	33.90
FTCH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
W	3.03	(0.60)	0.00	(0.35)	0.00	0.00	5.39	(7.62)	17.27
CHWY	2.09	0.12	0.03	0.01	2.91	(1.89)	4.00	(4.85)	12.50
VIPS	2.14	0.39	0.19	0.51	1.92	(2.61)	5.76	(3.34)	11.07

MercadoLibre Corporate Management

Marcelo Melamud	Chief Accounting Officer and VP	Profile
Marcos Galpern	Chairman, CoFounder	Profile
Juan Serna	Executive Argentina	Profile
Ariel Szarfsztejn	Executive Commerce	Profile

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