Baidu Correlations

BIDU Stock

USD 101.96 3.75 3.82%

The current 90-days correlation between Baidu Inc and Tencent Music Entertainment is 0.26 (i.e., Modest diversification). The correlation of Baidu 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.

Baidu Correlation With Market

Significant diversification

The correlation between Baidu Inc and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baidu Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Baidu Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Baidu Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in banks.

Moving together with Baidu Stock

0.74	WB	Weibo Corp	Pair Corr
0.62	ZG	Zillow Group	Pair Corr
0.63	ZH	Zhihu Inc ADR	Pair Corr
0.73	FENG	Phoenix New Media	Pair Corr
0.74	CCG	Cheche Group Class	Pair Corr
0.61	TME	Tencent Music Entert	Pair Corr
0.76	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.79	JOYY	JOYY Inc Symbol Change	Pair Corr

Moving against Baidu Stock

0.62	GRPN	Groupon	Pair Corr
0.57	DJTWW	Trump Media Technology	Pair Corr
0.47	GIFT	RDE, Inc	Pair Corr
0.45	TC	TuanChe ADR	Pair Corr
0.44	YELP	Yelp Inc	Pair Corr
0.43	SLE	Super League Enterprise	Pair Corr
0.4	FVRR	Fiverr International	Pair Corr
0.4	SEATW	Vivid Seats Warrant	Pair Corr
0.56	TBLAW	Taboola Warrant	Pair Corr
0.46	KRKR	36Kr Holdings Earnings Call This Week	Pair Corr
0.46	SEAT	Vivid Seats	Pair Corr
0.37	PODC	Courtside Group, Common	Pair Corr
0.34	JFIN	Jiayin Group Downward Rally	Pair Corr

Related Correlations Analysis

	TME	TWLO	SPOT	WB	PINS	SNAP	GOOGL	META	GOOG	FVRR
TME		-0.6	-0.23	0.88	0.34	-0.53	0.88	0.75	0.88	-0.84	TME
TWLO	-0.6		-0.12	-0.54	0.42	0.85	-0.5	-0.51	-0.5	0.37	TWLO
SPOT	-0.23	-0.12		-0.07	-0.5	-0.12	-0.34	-0.16	-0.34	0.45	SPOT
WB	0.88	-0.54	-0.07		0.23	-0.54	0.83	0.5	0.83	-0.58	WB
PINS	0.34	0.42	-0.5	0.23		0.33	0.48	0.39	0.48	-0.6	PINS
SNAP	-0.53	0.85	-0.12	-0.54	0.33		-0.49	-0.46	-0.49	0.3	SNAP
GOOGL	0.88	-0.5	-0.34	0.83	0.48	-0.49		0.67	1.0	-0.79	GOOGL
META	0.75	-0.51	-0.16	0.5	0.39	-0.46	0.67		0.67	-0.81	META
GOOG	0.88	-0.5	-0.34	0.83	0.48	-0.49	1.0	0.67		-0.79	GOOG
FVRR	-0.84	0.37	0.45	-0.58	-0.6	0.3	-0.79	-0.81	-0.79		FVRR
	TME	TWLO	SPOT	WB	PINS	SNAP	GOOGL	META	GOOG	FVRR

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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

GOOG	+ 1.0	GOOGL
WB	+ 0.88	TME
GOOGL	+ 0.88	TME
GOOG	+ 0.88	TME
SNAP	+ 0.85	TWLO
GOOGL	+ 0.83	WB

High negative correlations

FVRR	- 0.84	TME
FVRR	- 0.81	META
FVRR	- 0.79	GOOG
FVRR	- 0.79	GOOGL
FVRR	- 0.6	PINS
TWLO	- 0.6	TME

Risk-Adjusted Indicators

There is a big difference between Baidu Stock performing well and Baidu 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 Baidu'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
TME	1.60	0.43	0.25	0.47	1.34	(1.89)	3.85	(2.99)	15.41
TWLO	2.36	(0.18)	0.00	(0.04)	0.00	0.00	4.79	(6.01)	25.86
SPOT	1.85	0.05	0.00	0.16	2.77	(1.85)	4.91	(3.68)	16.93
WB	1.73	0.33	0.16	0.62	1.56	(2.17)	4.79	(2.29)	17.40
PINS	1.35	0.15	0.06	0.30	2.03	(1.57)	2.85	(2.18)	15.43
SNAP	2.34	(0.33)	0.00	(0.08)	0.00	0.00	4.76	(3.72)	24.74
GOOGL	1.15	0.47	0.34	0.78	0.75	(1.39)	3.12	(1.49)	8.43
META	1.34	0.11	0.08	0.22	1.20	(1.62)	3.15	(2.27)	14.28
GOOG	1.12	0.46	0.34	0.76	0.72	(1.36)	3.01	(1.66)	8.34
FVRR	1.65	(0.54)	0.00	(0.53)	0.00	0.00	2.57	(4.74)	14.49

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