ALIBABA Correlations

01609WAW2   77.82  0.00  0.00%   
The current 90-days correlation between ALIBABA GROUP HLDG and Lipocine is 0.13 (i.e., Average diversification). The correlation of ALIBABA 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 Correlation With Market

Average diversification

The correlation between ALIBABA GROUP HLDG and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALIBABA GROUP HLDG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ALIBABA 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 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 - 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 GROUP HLDG to buy it.

Moving together with ALIBABA Bond

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  0.65NVDA NVIDIAPairCorr
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  0.69XLI Industrial Select SectorPairCorr
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  0.71SDIV Global X SuperDividendPairCorr
  0.7RGAEX Growth FundPairCorr
  0.68VITAX Vanguard InformationPairCorr
  0.66RFXAX Rational Special SitPairCorr
  0.65VVIAX Vanguard Value IndexPairCorr
  0.65MWHIX Metropolitan West HighPairCorr
  0.7URFRX Target Retirement 2040PairCorr
  0.66BALSX Blackrock Insights LonshrPairCorr
  0.65TSDCX Touchstone Ultra ShortPairCorr
  0.73MADCX Blackrock Gbl EmergingPairCorr
  0.7NASDX Nasdaq 100 IndexPairCorr

Related Correlations Analysis


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

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JUTOYWDC
JUTOYCOE
NXPLWDC
NXPLCOE
NXPLJUTOY
  

High negative correlations

TOVXGEOUF
COELPCN
TOVXWDC
NXPLTOVX
TOVXCOE
NXPLLPCN

Risk-Adjusted Indicators

There is a big difference between ALIBABA Bond performing well and ALIBABA Corporate Bond 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'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in ALIBABA 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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Performance Analysis

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