Wang Lee Correlations

WLGS Stock

5.17 0.20 3.72%

The correlation of Wang Lee 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.

Wang Lee Correlation With Market

Modest diversification

The correlation between Wang Lee Group, and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wang Lee Group, and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wang Lee Group,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Wang Stock

0.95	VATE	Innovate Corp	Pair Corr
0.72	MTRX	Matrix Service	Pair Corr

Moving against Wang Stock

0.47	WLDN	Willdan Group	Pair Corr
0.45	ESOA	Energy Services	Pair Corr
0.39	FGL	Founder Group Limited	Pair Corr
0.63	PGHL	Primega Group Holdings	Pair Corr
0.47	NVEE	NV5 Global	Pair Corr
0.41	KBR	KBR Inc	Pair Corr
0.66	BLNK	Blink Charging	Pair Corr
0.64	SLND	Southland Holdings	Pair Corr
0.54	AGFY	Agrify Corp	Pair Corr
0.5	RITR	Reitar Logtech Holdings	Pair Corr
0.48	TTEK	Tetra Tech	Pair Corr
0.45	ROAD	Construction Partners	Pair Corr

Related Correlations Analysis

	TMCI	RS	TOMDF	JYNT	RGEN	SIM	CAH
TMCI		0.73	0.0	0.71	0.5	-0.5	0.69	TMCI
RS	0.73		0.0	0.76	0.49	-0.32	0.59	RS
TOMDF	0.0	0.0		0.0	0.0	0.0	0.0	TOMDF
JYNT	0.71	0.76	0.0		0.26	-0.37	0.59	JYNT
RGEN	0.5	0.49	0.0	0.26		-0.02	0.31	RGEN
SIM	-0.5	-0.32	0.0	-0.37	-0.02		-0.39	SIM
CAH	0.69	0.59	0.0	0.59	0.31	-0.39		CAH
	TMCI	RS	TOMDF	JYNT	RGEN	SIM	CAH

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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

JYNT	+ 0.76	RS
RS	+ 0.73	TMCI
JYNT	+ 0.71	TMCI
CAH	+ 0.69	TMCI
CAH	+ 0.59	RS
CAH	+ 0.59	JYNT

High negative correlations

SIM	- 0.5	TMCI
CAH	- 0.39	SIM
SIM	- 0.37	JYNT
SIM	- 0.32	RS
SIM	- 0.02	RGEN
CAH	- 0.0	TOMDF

Risk-Adjusted Indicators

There is a big difference between Wang Stock performing well and Wang Lee 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 Wang Lee'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
TMCI	2.73	0.27	0.08	0.12	2.64	(3.28)	8.14	(4.19)	20.40
RS	1.21	(0.04)	0.00	(0.13)	0.00	0.00	2.41	(2.70)	5.82
TOMDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JYNT	1.65	0.13	0.10	0.76	1.68	(2.01)	4.55	(2.78)	9.99
RGEN	2.19	(0.05)	0.00	(0.11)	0.00	0.00	4.79	(3.85)	19.94
SIM	2.29	0.13	0.04	0.14	3.16	(2.99)	4.98	(6.81)	26.87
CAH	0.77	0.23	0.22	0.33	0.98	(0.81)	1.82	(2.03)	6.21

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