Tencent Holdings Correlations
| TCEHY Stock | USD 65.32 0.40 0.61% |
The current 90-days correlation between Tencent Holdings and Alphabet Inc Class A is 0.14 (i.e., Average diversification). The correlation of Tencent Holdings 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.
Tencent Holdings Correlation With Market
Significant diversification
The correlation between Tencent Holdings Ltd and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tencent Holdings Ltd and DJI in the same portfolio, assuming nothing else is changed.
Tencent |
The ability to find closely correlated positions to Tencent Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tencent Holdings when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Tencent Holdings - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Tencent Holdings Ltd to buy it.
Moving together with Tencent Pink Sheet
| 0.97 | TCTZF | Tencent Holdings | PairCorr |
| 0.85 | PROSY | Prosus NV ADR | PairCorr |
| 0.77 | PROSF | Prosus | PairCorr |
| 0.8 | AVAL | Grupo Aval | PairCorr |
| 0.66 | WF | Woori Financial Group | PairCorr |
| 0.88 | BCH | Banco De Chile | PairCorr |
| 0.78 | WM | Waste Management | PairCorr |
| 0.68 | INTC | Intel Sell-off Trend | PairCorr |
| 0.75 | TRV | The Travelers Companies | PairCorr |
| 0.92 | KO | Coca Cola | PairCorr |
| 0.72 | IBM | International Business | PairCorr |
| 0.91 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.85 | MCD | McDonalds | PairCorr |
| 0.66 | PG | Procter Gamble | PairCorr |
| 0.93 | VZ | Verizon Communications | PairCorr |
Moving against Tencent Pink Sheet
| 0.87 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.79 | KB | KB Financial Group | PairCorr |
| 0.71 | SHG | Shinhan Financial | PairCorr |
| 0.77 | CAT | Caterpillar | PairCorr |
| 0.69 | AXP | American Express | PairCorr |
| 0.68 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.59 | HPQ | HP Inc | PairCorr |
| 0.51 | MRK | Merck Company | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Tencent Pink Sheet performing well and Tencent Holdings 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 Tencent Holdings' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TWLO | 2.49 | 0.06 | 0.01 | 0.00 | 3.90 | 3.77 | 35.14 | |||
| SNAP | 2.48 | (0.18) | 0.00 | (0.19) | 0.00 | 4.41 | 14.86 | |||
| GOOGL | 1.45 | (0.20) | 0.00 | (0.28) | 0.00 | 2.56 | 10.40 | |||
| PINS | 2.20 | 0.26 | 0.10 | 0.23 | 2.32 | 5.04 | 26.52 | |||
| MOMO | 2.05 | (0.16) | 0.00 | (2.45) | 0.00 | 4.40 | 14.12 | |||
| WB | 2.21 | 0.05 | 0.03 | (17.06) | 2.76 | 4.82 | 11.06 | |||
| DOYU | 3.85 | (0.02) | 0.00 | (0.04) | 0.00 | 9.82 | 82.92 | |||
| BIDU | 2.40 | 0.18 | 0.06 | 0.34 | 2.95 | 5.43 | 13.40 | |||
| META | 1.63 | 0.04 | 0.02 | 0.00 | 2.27 | 2.96 | 8.90 | |||
| DASH | 1.77 | 0.22 | 0.08 | 0.16 | 2.48 | 3.76 | 11.71 |
Be your own money manager
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Tencent Holdings Corporate Executives
Elected by the shareholders, the Tencent Holdings' board of directors comprises two types of representatives: Tencent Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tencent. The board's role is to monitor Tencent Holdings' management team and ensure that shareholders' interests are well served. Tencent Holdings' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Tencent Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.