Meliá Hotels Correlations

SMIZF Stock

USD 7.11 0.00 0.00%

The current 90-days correlation between Meli Hotels International and Grocery Outlet Holding is -0.01 (i.e., Good diversification). The correlation of Meliá Hotels 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.

Meliá Hotels Correlation With Market

Good diversification

The correlation between Meli Hotels International 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 Meli Hotels International and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Meliá Pink Sheet

0.81	MAR	Marriott International	Pair Corr
0.82	HLT	Hilton Worldwide Holdings	Pair Corr
0.79	IHG	InterContinental Hotels	Pair Corr
0.72	ICHGF	InterContinental Hotels	Pair Corr
0.7	ACCYY	Accor SA	Pair Corr
0.72	ACRFF	Accor SA	Pair Corr
0.64	WTBCF	Whitbread plc	Pair Corr
0.72	CHH	Choice Hotels Intern	Pair Corr
0.7	SMR	Nuscale Power Corp	Pair Corr
0.76	PROSY	Prosus NV ADR	Pair Corr
0.71	CRS	Carpenter Technology	Pair Corr
0.74	IRDM	Iridium Communications	Pair Corr
0.72	AAGFF	Aftermath Silver Earnings Call Today	Pair Corr
0.81	BW	Babcock Wilcox Enter	Pair Corr
0.76	ACM	Aecom Technology	Pair Corr
0.73	AEVA	Aeva Technologies Trending	Pair Corr
0.72	DELL	Dell Technologies	Pair Corr

Moving against Meliá Pink Sheet

0.86	EPGG	Empire Global Gaming	Pair Corr
0.82	TPDDF	Talon Energy	Pair Corr
0.61	IMHC	Imperalis Holding Corp	Pair Corr
0.34	GBHPF	Global Hemp Group	Pair Corr
0.32	CHHE	China Health Industries	Pair Corr
0.76	NUZE	Nuzee Inc Symbol Change	Pair Corr
0.45	907818FS2	UNP 3799 06	Pair Corr

Related Correlations Analysis

	CDR-PB	GO	DPZ	TW	SHAK	TITN	SE	RAVE
CDR-PB		0.12	0.73	0.73	0.74	0.45	0.82	0.7	CDR-PB
GO	0.12		0.59	0.12	0.25	0.55	0.34	0.06	GO
DPZ	0.73	0.59		0.59	0.77	0.61	0.77	0.6	DPZ
TW	0.73	0.12	0.59		0.64	0.52	0.88	0.86	TW
SHAK	0.74	0.25	0.77	0.64		0.56	0.72	0.82	SHAK
TITN	0.45	0.55	0.61	0.52	0.56		0.53	0.58	TITN
SE	0.82	0.34	0.77	0.88	0.72	0.53		0.78	SE
RAVE	0.7	0.06	0.6	0.86	0.82	0.58	0.78		RAVE
	CDR-PB	GO	DPZ	TW	SHAK	TITN	SE	RAVE

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Risk-Adjusted Indicators

There is a big difference between Meliá Pink Sheet performing well and Meliá Hotels 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 Meliá Hotels' 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
CDR-PB	1.90	0.22	0.03	(11.58)	2.73	(2.01)	4.28	(4.61)	13.67
GO	2.66	(0.01)	0.03	0.11	3.68	(2.91)	5.45	(5.23)	21.42
DPZ	1.18	0.07	0.06	0.18	1.16	(1.41)	3.26	(2.11)	7.92
TW	0.92	0.18	0.08	0.58	1.00	(0.97)	1.71	(1.39)	6.60
SHAK	1.77	0.20	0.13	0.28	1.50	(2.27)	5.02	(2.89)	11.94
TITN	2.21	0.26	0.03	(0.48)	2.66	(2.37)	5.83	(4.18)	19.53
SE	1.62	0.51	0.24	2.91	1.43	(1.95)	4.65	(2.83)	13.28
RAVE	2.84	0.81	0.24	(3.23)	2.22	(3.67)	8.33	(4.90)	26.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in Meliá Hotels 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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