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

0.75	XDJP	Xtrackers Nikkei 225	Pair Corr
0.74	SXRZ	iShares VII PLC	Pair Corr
0.84	VUSA	Vanguard Funds Public	Pair Corr
0.71	EXX7	iShares Nikkei 225	Pair Corr
0.84	SXR8	iShares Core SP	Pair Corr

Moving against BATE Etf

0.74	VDTE	Vanguard Funds Public	Pair Corr
0.57	DXSK	Xtrackers Stoxx	Pair Corr
0.42	LIRU	Lyxor Index Fund	Pair Corr
0.41	EXX1	iShares EURO STOXX	Pair Corr
0.4	SC0Q	Invesco Markets plc	Pair Corr
0.39	ZPR6	SPDR ICE BofA	Pair Corr
0.31	INDA	Multi Units Luxembourg	Pair Corr
0.52	ELF1	Deka MDAX UCITS	Pair Corr
0.5	AW1M	UBS Fund Solutions	Pair Corr
0.46	5L43	DNCA Invest Eurose	Pair Corr
0.41	C051	Amundi Euro Stoxx	Pair Corr
0.39	DFEN	VanEck Defense ETF	Pair Corr
0.39	EXV7	iShares STOXX Europe	Pair Corr
0.32	LBNK	Lyxor Index Fund	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.23	0.69	-0.47	0.5	0.31	0.07	0.89	-0.78	0.2	META
MSFT	-0.23		-0.65	0.44	-0.75	0.62	0.88	-0.08	0.54	-0.16	MSFT
UBER	0.69	-0.65		-0.51	0.8	-0.22	-0.56	0.62	-0.86	0.42	UBER
F	-0.47	0.44	-0.51		-0.27	0.21	0.3	-0.37	0.66	0.25	F
T	0.5	-0.75	0.8	-0.27		-0.51	-0.65	0.32	-0.7	0.39	T
A	0.31	0.62	-0.22	0.21	-0.51		0.72	0.54	0.15	0.04	A
CRM	0.07	0.88	-0.56	0.3	-0.65	0.72		0.16	0.36	-0.19	CRM
JPM	0.89	-0.08	0.62	-0.37	0.32	0.54	0.16		-0.67	0.23	JPM
MRK	-0.78	0.54	-0.86	0.66	-0.7	0.15	0.36	-0.67		-0.24	MRK
XOM	0.2	-0.16	0.42	0.25	0.39	0.04	-0.19	0.23	-0.24		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.8	UBER
CRM	+ 0.72	A
UBER	+ 0.69	META
MRK	+ 0.66	F

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.78	META
T	- 0.75	MSFT
MRK	- 0.7	T
MRK	- 0.67	JPM
CRM	- 0.65	T

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.59	0.08	0.00	(0.03)	0.00	0.00	2.57	(3.59)	8.90
MSFT	1.10	(0.12)	0.00	(0.30)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.20	0.10	0.28	2.38	(2.01)	4.72	(3.30)	12.75
F	1.42	0.05	0.00	(0.06)	0.00	0.00	2.71	(2.89)	10.14
T	1.07	0.24	0.16	0.33	1.64	(1.12)	1.90	(2.12)	11.66
A	1.16	(0.12)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.45	(0.26)	0.00	(0.35)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.04	0.00	(0.08)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.21	(0.12)	0.00	1.56	0.00	0.00	2.08	(2.24)	11.57
XOM	1.04	0.04	0.07	(0.02)	1.37	(1.07)	2.55	(2.36)	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.

LG Battery Value Chain LG Battery Value Chain iShares Govt Bond Amundi MSCI Europe iShares Global AAA AA iShares Smart City UBS Barclays Liquid SPDR Barclays 10 WisdomTree WTI Crude American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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