JX Luxventure Correlations

JXG Stock

1.06 0.02 1.92%

The current 90-days correlation between JX Luxventure Limited and Under Armour C is 0.13 (i.e., Average diversification). The correlation of JX Luxventure 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.

JX Luxventure Correlation With Market

Significant diversification

The correlation between JX Luxventure Limited and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JX Luxventure Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in JX Luxventure Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with JXG Stock

0.75	OI	O I Glass	Pair Corr
0.93	EBET	Ebet Inc	Pair Corr
0.72	F-PD	F PD	Pair Corr
0.76	EXTO	Almacenes xito SA	Pair Corr
0.62	WPRT	Westport Fuel Systems	Pair Corr
0.88	AVY	Avery Dennison Corp	Pair Corr
0.7	CCK	Crown Holdings	Pair Corr
0.77	CYD	China Yuchai Interna	Pair Corr
0.7	DSS	DSS Inc	Pair Corr
0.71	FLL	Full House Resorts	Pair Corr
0.89	GHG	GreenTree Hospitality	Pair Corr
0.85	HBB	Hamilton Beach Brands	Pair Corr

Moving against JXG Stock

0.75	LAKE	Lakeland Industries	Pair Corr
0.75	SW	Smurfit WestRock plc	Pair Corr
0.75	DRVN	Driven Brands Holdings	Pair Corr
0.69	HBI	Hanesbrands	Pair Corr
0.65	IP	International Paper	Pair Corr
0.59	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.88	FUN	Six Flags Entertainment	Pair Corr
0.78	GPI	Group 1 Automotive	Pair Corr
0.67	FLUT	Flutter Entertainment plc	Pair Corr
0.56	GAN	Gan	Pair Corr
0.45	AIN	Albany International	Pair Corr
0.83	IHG	InterContinental Hotels	Pair Corr
0.82	KAR	KAR Auction Services	Pair Corr
0.77	FTDR	Frontdoor	Pair Corr
0.74	HLT	Hilton Worldwide Holdings	Pair Corr
0.73	HDL	SUPER HI INTERNATIONAL	Pair Corr
0.58	HGV	Hilton Grand Vacations	Pair Corr

Related Correlations Analysis

	UA	VNCE	XELB	HBI	JXG	NCI	OXM	SGC	UAA	ZGN
UA		-0.6	0.42	0.35	0.14	0.03	0.2	0.44	0.79	-0.26	UA
VNCE	-0.6		-0.76	0.09	-0.4	-0.16	0.07	0.0	-0.51	0.19	VNCE
XELB	0.42	-0.76		-0.56	0.68	0.53	-0.48	-0.42	0.26	-0.34	XELB
HBI	0.35	0.09	-0.56		-0.69	-0.57	0.64	0.9	0.47	-0.04	HBI
JXG	0.14	-0.4	0.68	-0.69		0.44	-0.49	-0.68	-0.1	0.19	JXG
NCI	0.03	-0.16	0.53	-0.57	0.44		-0.22	-0.45	-0.05	-0.17	NCI
OXM	0.2	0.07	-0.48	0.64	-0.49	-0.22		0.67	0.28	0.32	OXM
SGC	0.44	0.0	-0.42	0.9	-0.68	-0.45	0.67		0.53	-0.2	SGC
UAA	0.79	-0.51	0.26	0.47	-0.1	-0.05	0.28	0.53		-0.25	UAA
ZGN	-0.26	0.19	-0.34	-0.04	0.19	-0.17	0.32	-0.2	-0.25		ZGN
	UA	VNCE	XELB	HBI	JXG	NCI	OXM	SGC	UAA	ZGN

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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

SGC	+ 0.9	HBI
UAA	+ 0.79	UA
JXG	+ 0.68	XELB
SGC	+ 0.67	OXM
OXM	+ 0.64	HBI
NCI	+ 0.53	XELB

High negative correlations

XELB	- 0.76	VNCE
JXG	- 0.69	HBI
SGC	- 0.68	JXG
VNCE	- 0.6	UA
NCI	- 0.57	HBI
HBI	- 0.56	XELB

Risk-Adjusted Indicators

There is a big difference between JXG Stock performing well and JX Luxventure 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 JX Luxventure'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
UA	2.24	(0.10)	0.00	(0.28)	0.00	0.00	3.44	(4.75)	35.20
VNCE	6.20	1.77	0.28	(5.22)	4.67	(9.84)	11.11	(7.37)	93.38
XELB	3.45	(0.26)	0.00	1.42	0.00	0.00	6.12	(6.25)	63.34
HBI	1.87	0.23	0.11	0.63	1.84	(2.22)	4.27	(3.39)	22.56
JXG	4.29	(0.63)	0.00	(1.46)	0.00	0.00	12.05	(10.19)	31.10
NCI	8.08	0.23	0.02	0.32	10.12	(9.76)	18.33	(14.58)	89.32
OXM	1.78	(0.04)	0.00	(0.09)	0.00	0.00	3.84	(3.95)	13.68
SGC	1.44	0.12	0.05	0.43	1.84	(1.49)	3.24	(2.76)	13.85
UAA	2.38	(0.08)	0.00	(0.04)	0.00	0.00	3.97	(5.56)	40.23
ZGN	1.76	(0.22)	0.00	(2.13)	0.00	0.00	3.51	(4.19)	9.34

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