| QD Stock | | | USD 2.29 0.05 2.14% |
The current 90-days correlation between Qudian Inc and Medallion Financial Corp is 0.02 (i.e., Significant diversification). The correlation of Qudian 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.
Qudian Correlation With Market
Significant diversification
The correlation between Qudian Inc 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 Qudian Inc and DJI in the same portfolio, assuming nothing else is changed.
Check out
Your Equity Center to better understand how to build diversified portfolios, which includes a position in Qudian 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 unemployment.
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 | SLMBP | | IX | | OPRT | | MFIN | | SLMBP | | OPRT | | OPRT | | IX |
| | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Qudian Stock performing well and Qudian 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 Qudian'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.