Legacy Education Correlations

LGCY Stock

USD 8.10 0.24 3.05%

The correlation of Legacy Education 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.

Legacy Education Correlation With Market

Significant diversification

The correlation between Legacy Education and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Legacy Education and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Legacy Education. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy Legacy Stock please use our How to Invest in Legacy Education guide.

Moving together with Legacy Stock

0.74

ZVOI

Zovio Inc

Pair Corr

Moving against Legacy Stock

0.87	TAL	TAL Education Group	Pair Corr
0.79	IH	Ihuman Inc	Pair Corr
0.69	QSG	QuantaSing Group	Pair Corr
0.66	DAO	Youdao Inc	Pair Corr
0.54	EDU	New Oriental Education	Pair Corr
0.5	JZ	Jianzhi Education	Pair Corr
0.49	STG	Sunlands Technology	Pair Corr
0.46	VSTA	Vasta Platform	Pair Corr
0.45	YQ	17 Education Technology	Pair Corr
0.66	LXEH	Lixiang Education Holding	Pair Corr
0.63	AACG	ATA Creativity Global	Pair Corr
0.56	GOTU	Gaotu Techedu DRC Buyout Trend	Pair Corr
0.35	AMBO	Ambow Education Holding	Pair Corr
0.74	SKIL	Skillsoft Corp Earnings Call This Week	Pair Corr
0.51	LW	Lamb Weston Holdings Sell-off Trend	Pair Corr

Related Correlations Analysis

	GV	IH	JZ	YQ	VSTA	EDTK	EEIQ	WAFU	FEDU	COE
GV		-0.2	-0.47	0.13	-0.05	0.42	-0.47	0.36	-0.09	0.32	GV
IH	-0.2		0.42	0.79	0.35	-0.05	-0.31	0.6	0.03	-0.14	IH
JZ	-0.47	0.42		0.18	0.11	-0.36	0.44	-0.04	-0.2	-0.14	JZ
YQ	0.13	0.79	0.18		0.22	0.09	-0.43	0.78	0.01	-0.27	YQ
VSTA	-0.05	0.35	0.11	0.22		-0.38	-0.12	0.09	-0.54	0.42	VSTA
EDTK	0.42	-0.05	-0.36	0.09	-0.38		-0.35	0.32	0.39	-0.08	EDTK
EEIQ	-0.47	-0.31	0.44	-0.43	-0.12	-0.35		-0.56	-0.02	-0.13	EEIQ
WAFU	0.36	0.6	-0.04	0.78	0.09	0.32	-0.56		0.09	-0.09	WAFU
FEDU	-0.09	0.03	-0.2	0.01	-0.54	0.39	-0.02	0.09		-0.54	FEDU
COE	0.32	-0.14	-0.14	-0.27	0.42	-0.08	-0.13	-0.09	-0.54		COE
	GV	IH	JZ	YQ	VSTA	EDTK	EEIQ	WAFU	FEDU	COE

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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

YQ	+ 0.79	IH
WAFU	+ 0.78	YQ
WAFU	+ 0.6	IH
EEIQ	+ 0.44	JZ
EDTK	+ 0.42	GV
JZ	+ 0.42	IH

High negative correlations

WAFU	- 0.56	EEIQ
COE	- 0.54	FEDU
FEDU	- 0.54	VSTA
EEIQ	- 0.47	GV
JZ	- 0.47	GV
EEIQ	- 0.43	YQ

Risk-Adjusted Indicators

There is a big difference between Legacy Stock performing well and Legacy Education 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 Legacy Education'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
GV	6.93	0.04	0.02	0.14	6.79	(9.44)	10.00	(12.00)	133.12
IH	2.70	(0.14)	(0.04)	(0.01)	3.05	(3.18)	6.16	(5.49)	22.95
JZ	5.40	0.66	0.07	2.92	6.09	(7.06)	13.13	(10.28)	49.08
YQ	3.11	(0.03)	(0.02)	0.08	3.72	(4.52)	7.17	(6.19)	32.10
VSTA	1.75	(0.06)	0.00	0.31	0.00	0.00	3.60	(3.44)	19.49
EDTK	3.02	(0.13)	0.00	0.46	0.00	0.00	7.22	(5.83)	13.80
EEIQ	3.79	0.70	0.09	(0.68)	3.84	(5.82)	9.59	(6.67)	28.21
WAFU	2.56	(0.13)	0.00	(0.13)	0.00	0.00	5.59	(5.85)	37.09
FEDU	3.61	(0.82)	0.00	(0.29)	0.00	0.00	8.58	(5.70)	42.13
COE	2.46	0.12	0.01	0.74	3.15	(2.85)	5.29	(4.95)	27.73

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