Farvor, the correlation coefficient works both ways (hence correlation coefficient and not Oh-sweet-Jesus-we-are-sinking coefficient). Actually a negative coefficient would mean that XIN rises as the DOW falls (though discard that example because our above negative coefficient is a joke).
That aside, I do see your logic and it makes intuitive sense. The data does not support it though, but you need not worry as the data is often being a counter-intuitive #$%$.
However it is possible to isolate elasticity phenomena such as a down DOW blocking the magnitude of a price increase of XIN´s but we would need a ton more data, including intra day price points in significant quantity, to do that. Unfortunately we dont have this data and it is pretty much impossible to do/predict the analysis without it.