LiCycle Holdings Correlations

LICY Stock

USD 0.84 0.04 4.55%

The correlation of LiCycle Holdings 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.

LiCycle Holdings Correlation With Market

Average diversification

The correlation between LiCycle Holdings Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LiCycle Holdings Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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.

Moving together with LiCycle Stock

0.89	BV	BrightView Holdings	Pair Corr
0.78	FC	Franklin Covey Earnings Call Today	Pair Corr
0.78	EXPO	Exponent	Pair Corr
0.72	BRC	Brady	Pair Corr
0.71	CIX	CompX International	Pair Corr
0.88	FORR	Forrester Research	Pair Corr
0.91	DLX	Deluxe	Pair Corr
0.73	EFX	Equifax	Pair Corr
0.82	FCN	FTI Consulting	Pair Corr
0.76	HNI	HNI Corp	Pair Corr
0.73	FVRR	Fiverr International	Pair Corr
0.7	KBR	KBR Inc	Pair Corr
0.73	MSA	MSA Safety	Pair Corr
0.74	RGP	Resources Connection Earnings Call This Week	Pair Corr
0.81	RHI	Robert Half International	Pair Corr
0.89	TBI	TrueBlue	Pair Corr
0.91	HSON	Hudson Global	Pair Corr

Moving against LiCycle Stock

0.8	GDS	GDS Holdings	Pair Corr
0.71	KC	Kingsoft Cloud Holdings	Pair Corr
0.7	WM	Waste Management	Pair Corr
0.68	G	Genpact Limited	Pair Corr
0.58	VSEC	VSE Corporation	Pair Corr
0.55	GFL	Gfl Environmental	Pair Corr
0.54	MG	Mistras Group	Pair Corr
0.39	ADP	Automatic Data Processing	Pair Corr
0.32	ACU	Acme United	Pair Corr
0.76	HURN	Huron Consulting	Pair Corr
0.62	PAGS	PagSeguro Digital	Pair Corr
0.59	INOD	Innodata Buyout Trend	Pair Corr
0.57	PYCR	Paycor HCM	Pair Corr
0.55	HDSN	Hudson Technologies	Pair Corr
0.46	WNS	WNS Holdings	Pair Corr
0.37	IIIV	i3 Verticals	Pair Corr

Related Correlations Analysis

	HCCI	CWST	PESI	MEG	LNZAW	HSC	RSG	WCN	CLH	GFL
HCCI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HCCI
CWST	0.0		-0.3	-0.05	-0.17	0.0	0.63	0.59	-0.29	0.32	CWST
PESI	0.0	-0.3		0.65	0.81	0.0	-0.72	-0.6	0.74	-0.7	PESI
MEG	0.0	-0.05	0.65		0.59	0.0	-0.32	-0.2	0.63	-0.77	MEG
LNZAW	0.0	-0.17	0.81	0.59		0.0	-0.61	-0.6	0.56	-0.59	LNZAW
HSC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	HSC
RSG	0.0	0.63	-0.72	-0.32	-0.61	0.0		0.92	-0.74	0.59	RSG
WCN	0.0	0.59	-0.6	-0.2	-0.6	0.0	0.92		-0.5	0.55	WCN
CLH	0.0	-0.29	0.74	0.63	0.56	0.0	-0.74	-0.5		-0.69	CLH
GFL	0.0	0.32	-0.7	-0.77	-0.59	0.0	0.59	0.55	-0.69		GFL
	HCCI	CWST	PESI	MEG	LNZAW	HSC	RSG	WCN	CLH	GFL

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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

WCN	+ 0.92	RSG
LNZAW	+ 0.81	PESI
CLH	+ 0.74	PESI
MEG	+ 0.65	PESI
RSG	+ 0.63	CWST
CLH	+ 0.63	MEG

High negative correlations

GFL	- 0.77	MEG
CLH	- 0.74	RSG
RSG	- 0.72	PESI
GFL	- 0.7	PESI
GFL	- 0.69	CLH
RSG	- 0.61	LNZAW

Risk-Adjusted Indicators

There is a big difference between LiCycle Stock performing well and LiCycle Holdings 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 LiCycle Holdings' 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
HCCI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWST	1.25	0.08	0.07	0.10	1.21	(1.60)	3.12	(1.87)	7.44
PESI	2.29	(0.55)	0.00	3.07	0.00	0.00	3.26	(4.78)	13.70
MEG	3.74	(0.09)	0.00	3.00	0.00	0.00	6.70	(7.61)	48.62
LNZAW	9.47	0.68	0.05	0.27	9.55	(15.06)	18.75	(15.15)	83.23
HSC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RSG	0.78	0.21	0.27	0.40	0.63	(0.92)	1.93	(1.22)	4.88
WCN	0.77	0.12	0.15	0.22	0.72	(0.80)	1.94	(1.27)	5.46
CLH	1.20	(0.29)	0.00	(0.36)	0.00	0.00	2.10	(3.13)	7.28
GFL	1.14	0.10	0.09	0.17	1.28	(1.23)	2.97	(2.11)	7.38

LiCycle Holdings 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 LiCycle Holdings stock to make a market-neutral strategy. Peer analysis of LiCycle Holdings could also be used in its relative valuation, which is a method of valuing LiCycle Holdings by comparing valuation metrics with similar companies.

Heritage Crystal Clean Casella Waste Systems Perma Fix Environmental Svcs Montrose Environmental Grp LanzaTech Global Enviri Republic Services Waste Connections Clean Harbors Gfl Environmental Holdings Stericycle American Airlines Group Alcoa Corp Apple Inc Best Buy Co

Risk & Return

Correlation

LiCycle Holdings Corporate Management

Conor Spollen	Chief Officer	Profile
Anthony Tse	Independent Director	Profile
Tim Johnston	Executive Chairman of the Board, Co-Founder	Profile
Dawei Li	Regional President APAC	Profile
Craig Cunningham	Chief Officer	Profile
Mark Wellings	Independent Director	Profile

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