LG Battery Correlations

BATT Etf

CHF 15.13 0.09 0.60%

The current 90-days correlation between LG Battery Value and UBSFund Solutions MSCI is -0.15 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.

LG Battery Correlation With Market

Average diversification

The correlation between LG Battery Value Chain and DJI is 0.12 (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 BATT Etf

0.61	LYJPN	Lyxor Japan UCITS	Pair Corr
0.65	SXLK	SPDR SP Technology	Pair Corr
0.61	XLKS	Invesco Technology	Pair Corr
0.69	EQQQ	Invesco EQQQ NASDAQ	Pair Corr

Moving against BATT Etf

0.57	LYRIO	Lyxor MSCI Brazil	Pair Corr
0.48	PLUSA	UBS ETF Palladium	Pair Corr
0.31	ZPAL	ZKB Palladium ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.78	-0.54	-0.35	0.46	0.32	0.57	0.27	-0.16	-0.51	META
MSFT	0.78		-0.65	-0.25	0.55	0.07	0.61	0.38	-0.21	-0.76	MSFT
UBER	-0.54	-0.65		0.41	-0.73	0.18	-0.78	-0.55	0.61	0.73	UBER
F	-0.35	-0.25	0.41		0.06	-0.25	-0.01	0.27	-0.1	0.6	F
T	0.46	0.55	-0.73	0.06		-0.34	0.87	0.84	-0.69	-0.42	T
A	0.32	0.07	0.18	-0.25	-0.34		-0.32	-0.51	0.7	0.12	A
CRM	0.57	0.61	-0.78	-0.01	0.87	-0.32		0.88	-0.78	-0.48	CRM
JPM	0.27	0.38	-0.55	0.27	0.84	-0.51	0.88		-0.84	-0.25	JPM
MRK	-0.16	-0.21	0.61	-0.1	-0.69	0.7	-0.78	-0.84		0.27	MRK
XOM	-0.51	-0.76	0.73	0.6	-0.42	0.12	-0.48	-0.25	0.27		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.88	CRM
CRM	+ 0.87	T
JPM	+ 0.84	T
MSFT	+ 0.78	META
XOM	+ 0.73	UBER
MRK	+ 0.7	A

High negative correlations

MRK	- 0.84	JPM
MRK	- 0.78	CRM
CRM	- 0.78	UBER
XOM	- 0.76	MSFT
T	- 0.73	UBER
MRK	- 0.69	T

LG Battery Competition Risk-Adjusted Indicators

There is a big difference between BATT 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	1.21	0.10	0.04	0.53	1.42	(1.36)	2.62	(3.15)	7.43
MSFT	0.85	0.04	(0.01)	(0.14)	1.60	(0.78)	1.78	(2.23)	8.14
UBER	1.65	(0.33)	0.00	(1.77)	0.00	0.00	2.53	(5.35)	20.41
F	1.45	(0.12)	0.00	(0.17)	0.00	0.00	2.53	(2.90)	11.21
T	0.95	0.10	0.05	0.42	1.12	(0.98)	1.93	(1.99)	7.95
A	1.23	(0.06)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.46	0.37	0.20	90.15	1.31	(1.65)	3.18	(2.88)	14.80
JPM	1.06	0.23	0.14	(2.23)	1.11	(1.26)	1.99	(1.44)	15.87
MRK	0.97	(0.21)	0.00	(0.96)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.87	(0.14)	0.00	(0.95)	0.00	0.00	1.83	(2.14)	6.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in LG Battery without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Options Analysis Now

Options Analysis

Analyze and evaluate options and option chains as a potential hedge for your portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC