LanzaTech Global Correlations

LNZAW Stock

0.12 0.01 7.69%

The current 90-days correlation between LanzaTech Global and Eldorado Gold Corp is -0.06 (i.e., Good diversification). The correlation of LanzaTech Global 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.

LanzaTech Global Correlation With Market

Good diversification

The correlation between LanzaTech Global and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LanzaTech Global 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 LanzaTech Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with LanzaTech Stock

0.66	CLH	Clean Harbors	Pair Corr
0.71	MMS	Maximus	Pair Corr
0.62	J	Jacobs Solutions	Pair Corr
0.78	BW	Babcock Wilcox Enter	Pair Corr
0.64	KE	Kimball Electronics	Pair Corr

Moving against LanzaTech Stock

0.72	BZ	Kanzhun Ltd ADR	Pair Corr
0.69	CASS	Cass Information Systems	Pair Corr
0.67	WCN	Waste Connections	Pair Corr
0.49	DRVN	Driven Brands Holdings	Pair Corr
0.49	CSGS	CSG Systems International	Pair Corr
0.48	NSP	Insperity	Pair Corr
0.44	KAR	KAR Auction Services	Pair Corr
0.75	SB	Safe Bulkers	Pair Corr
0.71	WM	Waste Management	Pair Corr
0.69	LZ	LegalZoom	Pair Corr
0.63	EH	Ehang Holdings	Pair Corr
0.51	VACH	Voyager Acquisition Corp	Pair Corr
0.5	PC	Premium Catering	Pair Corr
0.42	DE	Deere Company	Pair Corr

Related Correlations Analysis

	EGO	SCHL	STRA	LINC	EEIQ	ZNAE	VMC	IONR
EGO		-0.23	-0.14	-0.69	-0.02	0.0	0.17	0.12	EGO
SCHL	-0.23		-0.26	0.14	-0.13	0.0	-0.23	-0.49	SCHL
STRA	-0.14	-0.26		0.33	0.76	0.0	0.7	0.59	STRA
LINC	-0.69	0.14	0.33		0.01	0.0	0.14	0.03	LINC
EEIQ	-0.02	-0.13	0.76	0.01		0.0	0.61	0.53	EEIQ
ZNAE	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ZNAE
VMC	0.17	-0.23	0.7	0.14	0.61	0.0		0.6	VMC
IONR	0.12	-0.49	0.59	0.03	0.53	0.0	0.6		IONR
	EGO	SCHL	STRA	LINC	EEIQ	ZNAE	VMC	IONR

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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

EEIQ	+ 0.76	STRA
VMC	+ 0.7	STRA
VMC	+ 0.61	EEIQ
IONR	+ 0.6	VMC
IONR	+ 0.59	STRA
IONR	+ 0.53	EEIQ

High negative correlations

LINC	- 0.69	EGO
IONR	- 0.49	SCHL
STRA	- 0.26	SCHL
VMC	- 0.23	SCHL
SCHL	- 0.23	EGO
STRA	- 0.14	EGO

Risk-Adjusted Indicators

There is a big difference between LanzaTech Stock performing well and LanzaTech Global 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 LanzaTech Global'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
EGO	1.99	0.03	0.02	0.01	3.48	(1.84)	4.42	(5.33)	16.79
SCHL	2.57	0.17	0.08	0.75	2.82	(2.83)	5.36	(3.92)	16.12
STRA	1.15	(0.11)	0.00	(0.26)	0.00	0.00	1.54	(1.68)	21.01
LINC	2.40	0.14	0.03	0.02	3.43	(2.22)	3.87	(5.12)	22.97
EEIQ	3.07	(0.46)	0.00	(0.51)	0.00	0.00	4.95	(6.98)	26.36
ZNAE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMC	1.30	(0.18)	0.00	(0.28)	0.00	0.00	2.09	(2.85)	9.19
IONR	3.45	0.17	0.03	0.02	3.83	(4.12)	6.70	(6.22)	32.97

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