Alibaba Health Correlations

TWY Stock

EUR 0.47 0.04 9.30%

The current 90-days correlation between Alibaba Health Infor and Reinsurance Group of is 0.06 (i.e., Significant diversification). The correlation of Alibaba Health 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.

Alibaba Health Correlation With Market

Significant diversification

The correlation between Alibaba Health Information and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alibaba Health Information and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Alibaba Health could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alibaba Health 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 Alibaba Health - 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 Alibaba Health Information to buy it.

Moving together with Alibaba Stock

0.96	TWYA	ALIBHLINFTECUNSPADR	Pair Corr
0.92	TWY	Alibaba Health Infor	Pair Corr
0.9	TQR	Beijing Tong Ren	Pair Corr

Moving against Alibaba Stock

0.4	DBPD	Xtrackers ShortDAX	Pair Corr
0.37	BYRA	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	59M	RGPB	8AHB	WX7	0UI	PZX	SV2	LG1
59M		0.71	0.16	0.54	0.53	0.43	0.77	0.04	59M
RGPB	0.71		-0.16	0.61	0.81	0.2	0.86	0.05	RGPB
8AHB	0.16	-0.16		0.11	-0.36	0.73	-0.03	0.11	8AHB
WX7	0.54	0.61	0.11		0.68	0.56	0.78	-0.11	WX7
0UI	0.53	0.81	-0.36	0.68		0.16	0.74	-0.11	0UI
PZX	0.43	0.2	0.73	0.56	0.16		0.38	-0.15	PZX
SV2	0.77	0.86	-0.03	0.78	0.74	0.38		-0.05	SV2
LG1	0.04	0.05	0.11	-0.11	-0.11	-0.15	-0.05		LG1
	59M	RGPB	8AHB	WX7	0UI	PZX	SV2	LG1

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

SV2	+ 0.86	RGPB
0UI	+ 0.81	RGPB
SV2	+ 0.78	WX7
SV2	+ 0.77	59M
SV2	+ 0.74	0UI
PZX	+ 0.73	8AHB

High negative correlations

0UI	- 0.36	8AHB
8AHB	- 0.16	RGPB
LG1	- 0.15	PZX
LG1	- 0.11	0UI
LG1	- 0.11	WX7
LG1	- 0.05	SV2

Risk-Adjusted Indicators

There is a big difference between Alibaba Stock performing well and Alibaba Health 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 Alibaba Health'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
59M	0.87	0.03	(0.02)	0.17	0.92	(1.69)	2.83	(1.89)	7.49
RGPB	1.48	0.18	0.01	(0.55)	1.85	(1.84)	3.34	(2.86)	11.74
8AHB	1.98	0.10	0.01	0.40	2.38	(2.56)	5.04	(3.29)	15.65
WX7	0.93	0.22	0.12	0.61	0.83	(1.23)	2.08	(1.49)	5.53
0UI	2.69	0.48	0.12	0.96	3.04	(3.72)	8.24	(3.48)	28.62
PZX	2.83	0.57	0.13	1.12	3.28	(3.33)	8.08	(4.60)	29.88
SV2	1.31	0.18	0.04	2.17	1.48	(1.59)	2.76	(2.87)	9.71
LG1	1.70	0.04	0.01	0.16	2.14	(2.22)	3.03	(3.64)	17.30

Be your own money manager

Our tools can tell you how much better you can do entering a position in Alibaba Health without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run ETF Categories Now

ETF Categories

List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments

All Next

Launch Module

Alibaba Health Corporate Management

Elected by the shareholders, the Alibaba Health's board of directors comprises two types of representatives: Alibaba Health inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Alibaba. The board's role is to monitor Alibaba Health's management team and ensure that shareholders' interests are well served. Alibaba Health's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Alibaba Health's outside directors are responsible for providing unbiased perspectives on the board's policies.

Yanwu Tu	CFO Director	Profile
Ka Chun	Company Sec	Profile
Shunyan Zhu	Chairman CEO	Profile
Chun Kwong	Financial Controller	Profile
Chun Yan	Company Sec	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC