Phoenix New Correlations

Stocks . USA . 
Stock . Phoenix New Media
FENG Stock  USD 2.00  0.04  1.96%   
The current 90-days correlation between Phoenix New Media and Cheetah Mobile is 0.17 (i.e., Average diversification). The correlation of Phoenix New 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.

Phoenix New Correlation With Market

Good diversification

The correlation between Phoenix New Media and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Phoenix New Media and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Phoenix New Media. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Phoenix Stock

  0.75META Meta PlatformsPairCorr
  0.71AUTO Auto Trader GroupPairCorr
  0.75EGLX Enthusiast GamingPairCorr
  0.89DAR Darelle Online SolutionsPairCorr
  0.78ANGI ANGI HomeservicesPairCorr
  0.89ATHM AutohomePairCorr
  0.79MGMA Metro Global MediaPairCorr
  0.82RGVNF Regent VenturesPairCorr

Moving against Phoenix Stock

  0.82GOOGL Alphabet Class APairCorr
  0.82QUILF Quilter plcPairCorr
  0.78DRXGF Drax Group plcPairCorr
  0.67GKOS Glaukos CorpPairCorr
  0.64DNUT Krispy KremePairCorr
  0.55MH McGraw Hill,PairCorr
  0.37OUSTZ Ouster, WarrantsPairCorr
  0.91OBIO Orchestra BioMed HoldingsPairCorr
  0.87NHIC NewHold Investment CorpPairCorr
  0.87COPL Copley Acquisition CorpPairCorr
  0.86CSCO Cisco SystemsPairCorr
  0.85PACH Pioneer AcquisitionPairCorr
  0.85JBHT JB Hunt TransportPairCorr
  0.77SBKFF State BankPairCorr
  0.73AAPL Apple IncPairCorr
  0.73MTC MMTEC Inc Tech BoostPairCorr
  0.71EXPE Expedia GroupPairCorr
  0.65KODK Eastman KodakPairCorr
  0.62LFST Lifestance HealthPairCorr
  0.52TORO ToroPairCorr

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

TOUR
+ 0.87
THRY
TOUR
+ 0.79
CMCM
VNET
+ 0.74
TOUR
TOUR
+ 0.72
ASST
THRY
+ 0.7
CMCM
ASST
+ 0.67
CMCM
  

High negative correlations

LITB
- 0.15
ASST
LITB
- 0.04
CMCM

Risk-Adjusted Indicators

There is a big difference between Phoenix Stock performing well and Phoenix New 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 Phoenix New'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.

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