NetEase Correlations
| NTES Stock | USD 100.47 1.52 1.49% |
The current 90-days correlation between NetEase and Roblox Corp is 0.03 (i.e., Significant diversification). The correlation of NetEase 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.
NetEase Correlation With Market
Average diversification
The correlation between NetEase and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NetEase and DJI in the same portfolio, assuming nothing else is changed.
NetEase |
Moving together with NetEase Stock
| 0.61 | SKLZ | Skillz Platform | PairCorr |
| 0.64 | T | ATT Inc Earnings Call This Week | PairCorr |
| 0.64 | BZ | Kanzhun Ltd ADR | PairCorr |
| 0.61 | IQ | iQIYI Inc Aggressive Push | PairCorr |
| 0.77 | KT | KT Corporation | PairCorr |
| 0.78 | SE | Sea Downward Rally | PairCorr |
| 0.63 | SY | So Young International | PairCorr |
| 0.62 | TU | Telus Corp Potential Growth | PairCorr |
Moving against NetEase Stock
| 0.76 | GMHS | Gamehaus Holdings Class | PairCorr |
| 0.59 | EA | Electronic Arts | PairCorr |
| 0.59 | GXAI | Gaxosai | PairCorr |
| 0.56 | GDC | GD Culture Group | PairCorr |
| 0.56 | GDEV | GDEV Inc | PairCorr |
| 0.48 | MYPS | Playstudios | PairCorr |
| 0.45 | DDI | Doubledown Interactive | PairCorr |
| 0.81 | DJCO | Daily Journal Corp | PairCorr |
| 0.64 | TRUG | Trugolf | PairCorr |
| 0.44 | OB | Outbrain | PairCorr |
| 0.39 | SJ | Scienjoy Holding Corp | PairCorr |
| 0.35 | EB | Eventbrite Class A | PairCorr |
| 0.63 | ANGHW | Anghami Warrants | PairCorr |
| 0.62 | TC | TuanChe ADR | PairCorr |
| 0.55 | WBTN | WEBTOON Entertainment | PairCorr |
| 0.43 | DLPN | Dolphin Entertainment Earnings Call This Week | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between NetEase Stock performing well and NetEase 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 NetEase'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| RBLX | 1.94 | 0.12 | 0.04 | 0.03 | 3.09 | 3.85 | 17.52 | |||
| SKLZ | 3.43 | (0.05) | 0.00 | (0.16) | 0.00 | 7.41 | 27.98 | |||
| ATVI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TTWO | 1.38 | 0.19 | 0.15 | 0.42 | 1.51 | 3.00 | 17.26 | |||
| NTDOY | 1.73 | 0.25 | 0.13 | 0.53 | 1.99 | 3.67 | 11.20 | |||
| PLTK | 1.95 | (0.80) | 0.00 | (1.32) | 0.00 | 2.19 | 21.07 | |||
| EA | 1.40 | (0.19) | 0.00 | (42.17) | 0.00 | 2.72 | 17.97 | |||
| DDI | 2.30 | (0.24) | 0.00 | (0.65) | 0.00 | 4.62 | 14.65 | |||
| SCPL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GRVY | 1.25 | (0.20) | 0.00 | (0.45) | 0.00 | 2.44 | 7.29 |