LG Battery Correlations

BATE Etf   15.75  0.26  1.68%   
The current 90-days correlation between LG Battery Value and LG Battery Value Chain is 0.71 (i.e., Poor diversification). The correlation of LG Battery 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.

LG Battery Correlation With Market

Average diversification

The correlation between LG Battery Value Chain and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LG Battery Value Chain and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to LG Battery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LG Battery 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 LG Battery - 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 LG Battery Value Chain to buy it.

Moving together with BATE Etf

  0.75XDJP Xtrackers Nikkei 225PairCorr
  0.74SXRZ iShares VII PLCPairCorr
  0.84VUSA Vanguard Funds PublicPairCorr
  0.71EXX7 iShares Nikkei 225PairCorr
  0.84SXR8 iShares Core SPPairCorr

Moving against BATE Etf

  0.74VDTE Vanguard Funds PublicPairCorr
  0.57DXSK Xtrackers StoxxPairCorr
  0.42LIRU Lyxor Index FundPairCorr
  0.41EXX1 iShares EURO STOXXPairCorr
  0.4SC0Q Invesco Markets plcPairCorr
  0.39ZPR6 SPDR ICE BofAPairCorr
  0.31INDA Multi Units LuxembourgPairCorr
  0.52ELF1 Deka MDAX UCITSPairCorr
  0.5AW1M UBS Fund SolutionsPairCorr
  0.465L43 DNCA Invest EurosePairCorr
  0.41C051 Amundi Euro StoxxPairCorr
  0.39DFEN VanEck Defense ETFPairCorr
  0.39EXV7 iShares STOXX EuropePairCorr
  0.32LBNK Lyxor Index FundPairCorr

Related Correlations Analysis

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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   
JPMMETA
CRMMSFT
TUBER
CRMA
UBERMETA
MRKF
  
High negative correlations   
MRKUBER
MRKMETA
TMSFT
MRKT
MRKJPM
CRMT

LG Battery Competition Risk-Adjusted Indicators

There is a big difference between BATE Etf performing well and LG Battery ETF 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 LG Battery'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.59  0.08  0.00 (0.03) 0.00 
 2.57 
 8.90 
MSFT  1.10 (0.12) 0.00 (0.30) 0.00 
 2.58 
 10.31 
UBER  1.92  0.20  0.10  0.28  2.38 
 4.72 
 12.75 
F  1.42  0.05  0.00 (0.06) 0.00 
 2.71 
 10.14 
T  1.07  0.24  0.16  0.33  1.64 
 1.90 
 11.66 
A  1.16 (0.12) 0.00 (0.23) 0.00 
 2.92 
 9.03 
CRM  1.45 (0.26) 0.00 (0.35) 0.00 
 2.72 
 8.88 
JPM  1.10  0.04  0.00 (0.08) 0.00 
 1.99 
 6.85 
MRK  1.21 (0.12) 0.00  1.56  0.00 
 2.08 
 11.57 
XOM  1.04  0.04  0.07 (0.02) 1.37 
 2.55 
 5.89 

LG Battery Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with LG Battery etf to make a market-neutral strategy. Peer analysis of LG Battery could also be used in its relative valuation, which is a method of valuing LG Battery by comparing valuation metrics with similar companies.
 Risk & Return  Correlation