MercadoLibre Correlations

MELI Stock

USD 2,281 13.83 0.60%

The current 90-days correlation between MercadoLibre and PDD Holdings is 0.5 (i.e., Very weak diversification). The correlation of MercadoLibre 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.

MercadoLibre Correlation With Market

Good diversification

The correlation between MercadoLibre and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MercadoLibre and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MercadoLibre Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MercadoLibre. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more detail on how to invest in MercadoLibre Stock please use our How to Invest in MercadoLibre guide.

Moving against MercadoLibre Stock

0.41	ZKH	ZKH Group Limited	Pair Corr
0.38	LITB	LightInTheBox Holding	Pair Corr
0.32	AKA	AKA Brands Holding	Pair Corr

Related Correlations Analysis

	PDD	JD	BABA	GLBE	SE	JMIA	FTCH	W	CHWY	VIPS
PDD		0.78	0.75	0.37	0.59	0.35	0.0	0.56	-0.02	0.84	PDD
JD	0.78		0.63	0.21	0.31	0.22	0.0	0.41	-0.19	0.82	JD
BABA	0.75	0.63		-0.16	0.55	-0.25	0.0	0.02	-0.34	0.79	BABA
GLBE	0.37	0.21	-0.16		0.34	0.91	0.0	0.86	0.69	0.12	GLBE
SE	0.59	0.31	0.55	0.34		0.29	0.0	0.39	0.36	0.53	SE
JMIA	0.35	0.22	-0.25	0.91	0.29		0.0	0.88	0.73	0.1	JMIA
FTCH	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	FTCH
W	0.56	0.41	0.02	0.86	0.39	0.88	0.0		0.63	0.28	W
CHWY	-0.02	-0.19	-0.34	0.69	0.36	0.73	0.0	0.63		-0.23	CHWY
VIPS	0.84	0.82	0.79	0.12	0.53	0.1	0.0	0.28	-0.23		VIPS
	PDD	JD	BABA	GLBE	SE	JMIA	FTCH	W	CHWY	VIPS

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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

JMIA	+ 0.91	GLBE
W	+ 0.88	JMIA
W	+ 0.86	GLBE
VIPS	+ 0.84	PDD
VIPS	+ 0.82	JD
VIPS	+ 0.79	BABA

High negative correlations

CHWY	- 0.34	BABA
JMIA	- 0.25	BABA
VIPS	- 0.23	CHWY
CHWY	- 0.19	JD
GLBE	- 0.16	BABA
CHWY	- 0.02	PDD

Risk-Adjusted Indicators

There is a big difference between MercadoLibre Stock performing well and MercadoLibre 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 MercadoLibre'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
PDD	2.50	0.14	0.07	1.70	3.50	(2.42)	5.19	(6.03)	17.18
JD	2.58	(0.10)	0.00	(0.39)	0.00	0.00	5.09	(5.64)	14.60
BABA	2.89	0.49	0.13	1.21	3.72	(3.08)	5.79	(6.24)	18.50
GLBE	2.96	(0.41)	0.00	(0.31)	0.00	0.00	4.52	(8.39)	26.22
SE	2.61	0.28	0.10	(1.95)	3.91	(2.50)	4.09	(5.66)	21.76
JMIA	3.84	(0.56)	0.00	1.96	0.00	0.00	5.13	(6.99)	32.20
FTCH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
W	4.64	(0.38)	0.00	0.30	0.00	0.00	6.69	(9.18)	38.07
CHWY	2.23	(0.06)	0.00	0.10	0.00	0.00	6.32	(4.85)	13.84
VIPS	2.32	0.15	0.10	0.79	2.36	(2.79)	5.72	(4.25)	12.06

MercadoLibre Corporate Management

Marcelo Melamud	Chief Accounting Officer and VP	Profile
Marcos Galpern	Chairman, CoFounder	Profile
Juan Serna	Executive Argentina	Profile
Ariel Szarfsztejn	Executive Commerce	Profile

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