Li Ning Correlations

LNNGF Stock  USD 2.29  0.19  9.05%   
The current 90-days correlation between Li Ning Company and YETI Holdings is -0.08 (i.e., Good diversification). The correlation of Li Ning 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.

Li Ning Correlation With Market

Good diversification

The correlation between Li Ning Company and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Li Ning Company and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Li Ning could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Li Ning 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 Li Ning - 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 Li Ning Company to buy it.

Moving against LNNGF Pink Sheet

  0.69BTI British American Tobacco Sell-off TrendPairCorr
  0.66PPCCY PICC Property Normal TradingPairCorr
  0.61ATGE Adtalem Global EducationPairCorr
  0.59SE SeaPairCorr
  0.59NDEKY Nitto Denko CorpPairCorr
  0.56DX Dynex CapitalPairCorr
  0.52GSK GlaxoSmithKline PLC ADRPairCorr
  0.52UBER Uber TechnologiesPairCorr
  0.48SMNNY Shimano Inc ADRPairCorr
  0.47BB BlackBerryPairCorr
  0.42IBIO iBio, Common StockPairCorr
  0.41ANPDY ANTA Sports ProductsPairCorr
  0.4VZ Verizon Communications Sell-off TrendPairCorr
  0.39NCBDY BANDAI NAMCO HoldingsPairCorr
  0.38OLCLY Oriental LandPairCorr
  0.33AR Antero Resources CorpPairCorr
  0.76GE GE AerospacePairCorr
  0.76SHGDF Star DiamondPairCorr
  0.69AGL agilon healthPairCorr
  0.67KGC Kinross Gold Aggressive PushPairCorr
  0.65HWM Howmet AerospacePairCorr
  0.63ARZGY Assicurazioni GeneraliPairCorr
  0.61BCS Barclays PLC ADRPairCorr
  0.59NEM Newmont Goldcorp CorpPairCorr
  0.57BJ BJs Wholesale ClubPairCorr
  0.55OKTA Okta IncPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
GOLFYETI
PLNTMODG
MODGYETI
BOWLGOLF
GOLFMODG
BOWLYETI
  
High negative correlations   
BOWLPLNT
SEASBOWL
SEASPLNT
SEASGOLF
SEASMODG
SEASYETI

Risk-Adjusted Indicators

There is a big difference between LNNGF Pink Sheet performing well and Li Ning 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 Li Ning'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Li Ning 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 Portfolio Center Now

   

Portfolio Center

All portfolio management and optimization tools to improve performance of your portfolios
All  Next Launch Module