MakeMyTrip Correlations

MMYT Stock

USD 101.06 1.19 1.19%

The current 90-days correlation between MakeMyTrip Limited and Tuniu Corp is 0.24 (i.e., Modest diversification). The correlation of MakeMyTrip 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.

MakeMyTrip Correlation With Market

Modest diversification

The correlation between MakeMyTrip Limited and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MakeMyTrip Limited 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 MakeMyTrip Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with MakeMyTrip Stock

0.79	H	Hyatt Hotels	Pair Corr
0.84	SG	Sweetgreen	Pair Corr
0.79	WW	WW International	Pair Corr
0.82	DNUT	Krispy Kreme	Pair Corr
0.84	WING	Wingstop	Pair Corr
0.75	CCL	Carnival Earnings Call This Week	Pair Corr
0.84	CMG	Chipotle Mexican Grill	Pair Corr
0.74	CUK	Carnival Plc ADS	Pair Corr
0.78	DIN	Dine Brands Global	Pair Corr
0.76	RGS	Regis Common	Pair Corr

Moving against MakeMyTrip Stock

0.61	AGS	PlayAGS	Pair Corr
0.59	EVRI	Everi Holdings	Pair Corr
0.55	EM	Smart Share Global	Pair Corr
0.82	LNW	Light Wonder	Pair Corr
0.62	MCD	McDonalds	Pair Corr
0.53	LTH	Life Time Group	Pair Corr
0.35	DPZ	Dominos Pizza Common	Pair Corr
0.32	DRI	Darden Restaurants	Pair Corr

Related Correlations Analysis

	TOUR	MOND	AMADF	TNL	SABRP	TRIP	TUIFF	DESP	ISPO
TOUR		0.0	0.6	-0.27	0.0	-0.35	-0.51	0.04	-0.32	TOUR
MOND	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MOND
AMADF	0.6	0.0		-0.13	0.0	-0.17	-0.64	0.29	-0.18	AMADF
TNL	-0.27	0.0	-0.13		0.0	0.62	-0.15	0.14	0.23	TNL
SABRP	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SABRP
TRIP	-0.35	0.0	-0.17	0.62	0.0		0.01	0.35	0.51	TRIP
TUIFF	-0.51	0.0	-0.64	-0.15	0.0	0.01		-0.5	-0.1	TUIFF
DESP	0.04	0.0	0.29	0.14	0.0	0.35	-0.5		0.33	DESP
ISPO	-0.32	0.0	-0.18	0.23	0.0	0.51	-0.1	0.33		ISPO
	TOUR	MOND	AMADF	TNL	SABRP	TRIP	TUIFF	DESP	ISPO

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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

TRIP	+ 0.62	TNL
AMADF	+ 0.6	TOUR
ISPO	+ 0.51	TRIP
DESP	+ 0.35	TRIP
ISPO	+ 0.33	DESP
DESP	+ 0.29	AMADF

High negative correlations

TUIFF	- 0.64	AMADF
TUIFF	- 0.51	TOUR
DESP	- 0.5	TUIFF
TRIP	- 0.35	TOUR
ISPO	- 0.32	TOUR
TNL	- 0.27	TOUR

Risk-Adjusted Indicators

There is a big difference between MakeMyTrip Stock performing well and MakeMyTrip 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 MakeMyTrip'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
TOUR	1.89	0.04	0.03	0.11	2.31	(2.53)	4.72	(3.88)	14.76
MOND	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMADF	2.59	0.21	0.09	(1.15)	2.83	(2.81)	5.68	(5.34)	11.89
TNL	1.45	(0.06)	0.00	(0.11)	0.00	0.00	2.91	(4.34)	9.49
SABRP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TRIP	2.07	0.28	0.07	0.09	2.83	(2.17)	4.41	(5.84)	22.34
TUIFF	0.88	(0.19)	0.00	(0.52)	0.00	0.00	0.24	(4.42)	10.85
DESP	1.00	0.29	0.18	0.34	1.12	(1.38)	0.31	(1.28)	33.61
ISPO	4.61	0.50	0.11	(6.13)	4.75	(5.58)	11.39	(8.40)	23.42

MakeMyTrip Corporate Management

Sanjay Mohan	Group Officer	Profile
Ravi Tyagi	Vice Administration	Profile
Ankit Khanna	Growth Hotel	Profile
Raj Singh	Chief Corporate	Profile
Saujanya Shrivastava	Chief Marketing Officer	Profile

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