Xiaomi Corp Correlations

XIACF Stock

USD 7.47 0.28 3.61%

The current 90-days correlation between Xiaomi Corp and Casio Computer Co is 0.16 (i.e., Average diversification). The correlation of Xiaomi Corp 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.

Xiaomi Corp Correlation With Market

Significant diversification

The correlation between Xiaomi Corp and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xiaomi Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Xiaomi Pink Sheet

0.88	SNEJF	Sony Corp	Pair Corr
1.0	XIACY	Xiaomi Corp ADR	Pair Corr
0.88	PCRFF	Panasonic Corp	Pair Corr
0.75	HLOC	World Technology Corp	Pair Corr
0.76	UPMKF	UPM Kymmene Oyj	Pair Corr
0.84	MTNOF	MTN Group Limited	Pair Corr
0.88	GOLD	Barrick Gold Corp Aggressive Push	Pair Corr
0.65	VOD	Vodafone Group PLC	Pair Corr
0.75	CZMWF	Carl Zeiss Meditec	Pair Corr
0.75	ARHVF	Archer Limited	Pair Corr
0.76	FCHS	First Choice Healthc	Pair Corr
0.64	FFZY	Fansfrenzy Corp	Pair Corr
0.87	ITUB	Itau Unibanco Banco	Pair Corr
0.72	WBQNL	Woodbridge Liquidation	Pair Corr
0.79	MGYOY	MOL PLC ADR	Pair Corr
0.75	BMRA	Biomerica	Pair Corr
0.84	ALBHF	Alibaba Health Infor	Pair Corr
0.64	IPOAF	Industrias Penoles Sab	Pair Corr
0.81	WVVI	Willamette Valley Earnings Call This Week	Pair Corr
0.89	XPNGF	XPeng Inc Trending	Pair Corr

Moving against Xiaomi Pink Sheet

0.75	LNDNF	Lundin Energy AB	Pair Corr
0.46	INBX	Inhibrx Symbol Change	Pair Corr
0.45	AAPL	Apple Inc	Pair Corr
0.88	WKHS	Workhorse Group	Pair Corr

Related Correlations Analysis

	ZEPP	SSNLF	LPL	SHCAF	TCLHF	SHCAY	CSIOY	UEIC	VZIO
ZEPP		0.04	0.05	0.03	-0.01	-0.23	-0.13	-0.05	0.0	ZEPP
SSNLF	0.04		0.24	0.35	0.68	-0.08	-0.16	-0.51	0.0	SSNLF
LPL	0.05	0.24		0.46	0.33	0.19	-0.19	-0.26	0.0	LPL
SHCAF	0.03	0.35	0.46		0.73	0.69	0.38	-0.81	0.0	SHCAF
TCLHF	-0.01	0.68	0.33	0.73		0.33	0.31	-0.81	0.0	TCLHF
SHCAY	-0.23	-0.08	0.19	0.69	0.33		0.5	-0.51	0.0	SHCAY
CSIOY	-0.13	-0.16	-0.19	0.38	0.31	0.5		-0.39	0.0	CSIOY
UEIC	-0.05	-0.51	-0.26	-0.81	-0.81	-0.51	-0.39		0.0	UEIC
VZIO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		VZIO
	ZEPP	SSNLF	LPL	SHCAF	TCLHF	SHCAY	CSIOY	UEIC	VZIO

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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

TCLHF	+ 0.73	SHCAF
SHCAY	+ 0.69	SHCAF
TCLHF	+ 0.68	SSNLF
CSIOY	+ 0.5	SHCAY
SHCAF	+ 0.46	LPL
CSIOY	+ 0.38	SHCAF

High negative correlations

UEIC	- 0.81	TCLHF
UEIC	- 0.81	SHCAF
UEIC	- 0.51	SHCAY
UEIC	- 0.51	SSNLF
UEIC	- 0.39	CSIOY
UEIC	- 0.26	LPL

Risk-Adjusted Indicators

There is a big difference between Xiaomi Pink Sheet performing well and Xiaomi Corp 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 Xiaomi Corp'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
ZEPP	2.72	0.29	0.12	(2.19)	3.00	(3.21)	5.17	(5.25)	17.12
SSNLF	0.02	0.00	0.00	(0.56)	0.00	0.00	0.00	0.00	0.62
LPL	1.57	0.13	0.07	0.08	2.15	(1.51)	2.75	(2.77)	10.87
SHCAF	0.21	0.09	0.00	(0.77)	0.00	0.00	0.00	0.00	7.18
TCLHF	2.49	0.65	0.13	35.20	2.53	(4.98)	6.98	(4.94)	23.24
SHCAY	1.96	0.04	0.07	(0.17)	2.41	(2.19)	4.67	(4.03)	14.93
CSIOY	1.83	0.10	0.08	(1.36)	2.15	(2.05)	4.53	(4.30)	12.54
UEIC	1.93	(0.80)	0.00	(9.17)	0.00	0.00	3.80	(4.51)	18.98
VZIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Xiaomi Corp 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.

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