Ganfeng Lithium Correlations

GNENY Stock  USD 3.01  0.07  2.38%   
The current 90-days correlation between Ganfeng Lithium and BioLargo is 0.03 (i.e., Significant diversification). The correlation of Ganfeng Lithium 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.

Ganfeng Lithium Correlation With Market

GanfengDowDiversified AwayGanfengDowDiversified Away100%

Significant diversification

The correlation between Ganfeng Lithium Co and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ganfeng Lithium Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Ganfeng Lithium could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ganfeng Lithium 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 Ganfeng Lithium - 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 Ganfeng Lithium Co to buy it.

Moving together with Ganfeng Pink Sheet

  0.64CTA-PB E I duPairCorr
  0.63CTA-PA E I duPairCorr
  0.76BFFAF BASF SE NAPairCorr
  0.76GNENF Ganfeng LithiumPairCorr
  0.65ASA ASA Gold Normal TradingPairCorr
  0.61NVRO Nevro CorpPairCorr
  0.82TCTZF Tencent Holdings Downward RallyPairCorr
  0.62DNCVF Defiance Silver CorpPairCorr
  0.66TRGGF Tarachi Gold CorpPairCorr
  0.75TTWO Take Two InteractivePairCorr
  0.88CBYDF Corby SpiritPairCorr
  0.81LKQ LKQ CorporationPairCorr
  0.67RBKB Rhinebeck BancorpPairCorr
  0.63CDUAF Canadian UtilitiesPairCorr
  0.67AXSM Axsome TherapeuticsPairCorr

Moving against Ganfeng Pink Sheet

  0.64SHECY Shin Etsu ChemicalPairCorr
  0.63DOW Dow IncPairCorr
  0.43SHECF Shin Etsu ChemicalPairCorr
  0.35037833DN7 APPLE INCPairCorr

Related Correlations Analysis

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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   
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LXUSHECY
BAKSHECY
LXUBLGO
BAKBLGO
  
High negative correlations   
SHECYBLGO

Risk-Adjusted Indicators

There is a big difference between Ganfeng Pink Sheet performing well and Ganfeng Lithium 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 Ganfeng Lithium'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 Ganfeng Lithium 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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