Meituan ADR Correlations

MPNGY Stock

USD 44.97 2.96 7.05%

The current 90-days correlation between Meituan ADR and Jd Com Inc is -0.11 (i.e., Good diversification). The correlation of Meituan ADR 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Meituan ADR Correlation With Market

Significant diversification

The correlation between Meituan ADR and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meituan ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Meituan Pink Sheet

0.84	BABAF	Alibaba Group Holding	Pair Corr
0.79	BABA	Alibaba Group Holding	Pair Corr
0.84	PDD	PDD Holdings	Pair Corr
0.99	MPNGF	Meituan Upward Rally	Pair Corr
0.86	JDCMF	Jd Com Inc	Pair Corr
0.68	SE	Sea	Pair Corr
0.96	JD	JD Inc Adr Aggressive Push	Pair Corr
0.8	MSB	Mesabi Trust	Pair Corr
0.8	CRMD	CorMedix	Pair Corr
0.7	NVDA	NVIDIA	Pair Corr
0.7	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.66	APLD	Applied Blockchain	Pair Corr
0.82	CEG	Constellation Energy Corp Downward Rally	Pair Corr
0.71	VRT	Vertiv Holdings	Pair Corr

Related Correlations Analysis

	JDCMF	MOGU	OCG	BABAF	MPNGF	QRTEB	TDUP	BRAV	BOXWQ	ALEGF
JDCMF		0.66	0.64	0.83	0.87	-0.03	-0.18	0.0	0.08	0.0	JDCMF
MOGU	0.66		0.33	0.6	0.52	0.28	0.0	0.0	-0.02	0.0	MOGU
OCG	0.64	0.33		0.51	0.73	-0.25	-0.21	0.0	0.04	0.0	OCG
BABAF	0.83	0.6	0.51		0.82	0.17	-0.32	0.0	0.01	0.0	BABAF
MPNGF	0.87	0.52	0.73	0.82		-0.27	-0.14	0.0	0.14	0.0	MPNGF
QRTEB	-0.03	0.28	-0.25	0.17	-0.27		-0.44	0.0	-0.12	0.0	QRTEB
TDUP	-0.18	0.0	-0.21	-0.32	-0.14	-0.44		0.0	-0.24	0.0	TDUP
BRAV	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	BRAV
BOXWQ	0.08	-0.02	0.04	0.01	0.14	-0.12	-0.24	0.0		0.0	BOXWQ
ALEGF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ALEGF
	JDCMF	MOGU	OCG	BABAF	MPNGF	QRTEB	TDUP	BRAV	BOXWQ	ALEGF

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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

MPNGF	+ 0.87	JDCMF
BABAF	+ 0.83	JDCMF
MPNGF	+ 0.82	BABAF
MPNGF	+ 0.73	OCG
MOGU	+ 0.66	JDCMF
OCG	+ 0.64	JDCMF

High negative correlations

TDUP	- 0.44	QRTEB
TDUP	- 0.32	BABAF
QRTEB	- 0.27	MPNGF
QRTEB	- 0.25	OCG
BOXWQ	- 0.24	TDUP
TDUP	- 0.21	OCG

Risk-Adjusted Indicators

There is a big difference between Meituan Pink Sheet performing well and Meituan ADR 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 Meituan ADR'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
JDCMF	3.54	0.62	0.05	(0.48)	3.67	(9.50)	14.39	(10.11)	48.50
MOGU	3.46	0.18	0.00	(0.25)	3.94	(4.36)	8.67	(6.48)	32.91
OCG	5.42	0.16	0.02	0.29	5.43	(8.40)	13.33	(10.62)	50.05
BABAF	3.62	0.03	0.04	0.13	4.23	(4.72)	10.04	(7.64)	27.45
MPNGF	4.35	0.93	0.15	2.58	5.06	(5.05)	13.12	(6.61)	33.56
QRTEB	3.37	(0.49)	0.00	(1.83)	0.00	0.00	6.47	(6.62)	23.12
TDUP	6.07	0.47	0.22	0.18	4.38	(9.61)	15.67	(7.06)	63.59
BRAV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BOXWQ	45.18	4.78	0.00	1.14	0.00	0.00	275.00	(95.00)	363.89
ALEGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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Our tools can tell you how much better you can do entering a position in Meituan ADR 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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