Dada Nexus Correlations

DADA Stock

USD 1.96 0.03 1.51%

The current 90-days correlation between Dada Nexus and Jumia Technologies AG is 0.11 (i.e., Average diversification). The correlation of Dada Nexus 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.

Dada Nexus Correlation With Market

Average diversification

The correlation between Dada Nexus and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dada Nexus and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dada Nexus. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Dada Stock refer to our How to Trade Dada Stock guide.

Moving together with Dada Stock

0.73	DLTR	Dollar Tree	Pair Corr
0.82	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.7	WMT	Walmart Sell-off Trend	Pair Corr
0.83	PFGC	Performance Food	Pair Corr
0.76	PSMT	PriceSmart	Pair Corr
0.82	CART	Maplebear	Pair Corr
0.88	CHEF	Chefs Warehouse	Pair Corr
0.75	COST	Costco Wholesale Corp	Pair Corr
0.61	UNFI	United Natural Foods	Pair Corr
0.85	USFD	US Foods Holding	Pair Corr

Moving against Dada Stock

0.68	ANDE	Andersons	Pair Corr
0.55	HCWC	Healthy Choice Wellness	Pair Corr
0.44	DDL	Dingdong ADR	Pair Corr
0.43	IMKTA	Ingles Markets	Pair Corr
0.41	MSS	Maison Solutions	Pair Corr
0.38	SPTN	SpartanNash	Pair Corr
0.81	VIRC	Virco Manufacturing	Pair Corr
0.68	GPK	Graphic Packaging Holding	Pair Corr
0.4	WPRT	Westport Fuel Systems	Pair Corr
0.36	AGH	Aureus Greenway Holdings	Pair Corr

Related Correlations Analysis

	VIPS	JD	PDD	JMIA	BZUN	GLBE	FTCH	LQDT	DIBS	PRTS
VIPS		0.62	0.83	0.24	0.61	0.34	0.0	-0.08	0.78	0.37	VIPS
JD	0.62		0.67	-0.44	0.09	0.35	0.0	0.5	0.75	0.45	JD
PDD	0.83	0.67		0.06	0.6	0.54	0.0	0.2	0.63	0.43	PDD
JMIA	0.24	-0.44	0.06		0.58	0.02	0.0	-0.84	-0.09	-0.15	JMIA
BZUN	0.61	0.09	0.6	0.58		0.45	0.0	-0.34	0.23	-0.01	BZUN
GLBE	0.34	0.35	0.54	0.02	0.45		0.0	0.4	0.4	0.38	GLBE
FTCH	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	FTCH
LQDT	-0.08	0.5	0.2	-0.84	-0.34	0.4	0.0		0.2	0.37	LQDT
DIBS	0.78	0.75	0.63	-0.09	0.23	0.4	0.0	0.2		0.47	DIBS
PRTS	0.37	0.45	0.43	-0.15	-0.01	0.38	0.0	0.37	0.47		PRTS
	VIPS	JD	PDD	JMIA	BZUN	GLBE	FTCH	LQDT	DIBS	PRTS

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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

PDD	+ 0.83	VIPS
DIBS	+ 0.78	VIPS
DIBS	+ 0.75	JD
PDD	+ 0.67	JD
DIBS	+ 0.63	PDD
JD	+ 0.62	VIPS

High negative correlations

LQDT	- 0.84	JMIA
JMIA	- 0.44	JD
LQDT	- 0.34	BZUN
PRTS	- 0.15	JMIA
DIBS	- 0.09	JMIA
LQDT	- 0.08	VIPS

Risk-Adjusted Indicators

There is a big difference between Dada Stock performing well and Dada Nexus 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 Dada Nexus' 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
VIPS	1.90	(0.06)	0.00	0.46	0.00	0.00	5.09	(4.86)	14.19
JD	2.06	(0.24)	0.00	2.55	0.00	0.00	4.83	(4.13)	12.48
PDD	2.26	(0.23)	0.00	(0.22)	0.00	0.00	4.67	(6.03)	19.77
JMIA	4.21	0.52	0.13	0.31	4.20	(4.87)	12.37	(6.42)	26.85
BZUN	2.93	(0.16)	0.00	(0.92)	0.00	0.00	7.14	(5.98)	19.43
GLBE	2.78	(0.23)	0.00	(0.05)	0.00	0.00	4.52	(5.18)	40.17
FTCH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LQDT	1.90	(0.34)	0.00	(0.48)	0.00	0.00	3.58	(5.06)	17.63
DIBS	2.36	(0.20)	0.00	1.85	0.00	0.00	4.55	(5.71)	13.54
PRTS	3.92	(0.23)	0.00	(1.03)	0.00	0.00	7.69	(6.82)	26.73

Dada Nexus Corporate Management

Zhaoming Chen	Chief Officer	Profile
Henry Mao	Chief Officer	Profile
Caroline Dong	Head Relations	Profile
Jun Yang	CoFounder CTO	Profile

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