LG Battery Correlations

BATE Etf

EUR 26.90 1.13 4.03%

The current 90-days correlation between LG Battery Value and Lyxor Index Fund is 0.04 (i.e., Significant diversification). The correlation of LG Battery 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.

LG Battery Correlation With Market

Very poor diversification

The correlation between LG Battery Value Chain and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LG Battery Value Chain and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to LG Battery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LG Battery 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 LG Battery - 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 LG Battery Value Chain to buy it.

Moving together with BATE Etf

0.71	IBCF	iShares SP 500	Pair Corr
0.69	UBUJ	UBS ETF Public	Pair Corr
0.85	IBCH	iShares MSCI World	Pair Corr
0.9	XSXE	Xtrackers Stoxx	Pair Corr
0.84	STXH	Lyxor Index Fund	Pair Corr
0.73	ELCR	Lyxor Index Fund	Pair Corr
0.9	CEBP	iShares VII Public	Pair Corr
0.92	VZLC	WisdomTree Physical	Pair Corr
0.92	SLVR	Global X Silver	Pair Corr
0.92	G2XJ	VanEck Junior Gold	Pair Corr
0.92	CD91	Amundi Index Solutions	Pair Corr
0.92	ETLX	LG Gold Mining	Pair Corr
0.87	DBX8	Xtrackers MSCI	Pair Corr
0.86	DBX8	Xtrackers MSCI	Pair Corr
0.86	IQQK	iShares Public	Pair Corr
0.91	UBUD	UBS ETF Public	Pair Corr
0.92	IS0E	iShares Gold Producers	Pair Corr
0.84	EXX1	iShares EURO STOXX	Pair Corr
0.64	JEAA	JPM EUR Aggregate	Pair Corr
0.92	DBX4	Xtrackers MSCI	Pair Corr
0.87	DBX9	Xtrackers FTSE	Pair Corr
0.76	IUS4	iShares III Public	Pair Corr
0.89	EMNE	iShares MSCI EMU	Pair Corr
0.86	XDEW	Xtrackers Public	Pair Corr
0.79	DVDG	Franklin Global Quality	Pair Corr
0.78	T3MP	JPMorgan ETFs ICAV	Pair Corr
0.89	GQEU	Goldman Sachs Alpha	Pair Corr
0.86	VGEK	Vanguard FTSE Developed	Pair Corr
0.87	EXSD	iShares STOXX Europe	Pair Corr
0.91	ETSZ	Easy ETF	Pair Corr
0.89	EXV4	iShares STOXX Europe	Pair Corr
0.88	C006	Lyxor FAZ 100	Pair Corr

Related Correlations Analysis

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Be your own money manager

Our tools can tell you how much better you can do entering a position in LG Battery 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.

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