LiCycle Holdings Correlations

LICY Stock

USD 2.08 0.03 1.42%

The current 90-days correlation between LiCycle Holdings Corp and Heritage Crystal Clean is 0.07 (i.e., Significant diversification). The correlation of LiCycle Holdings 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.

LiCycle Holdings Correlation With Market

Significant diversification

The correlation between LiCycle Holdings Corp and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LiCycle Holdings Corp 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 LiCycle Holdings Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with LiCycle Stock

0.79	PESI	Perma Fix Environmental	Pair Corr
0.69	B	Barnes Group	Pair Corr
0.75	J	Jacobs Solutions	Pair Corr
0.68	R	Ryder System	Pair Corr
0.63	AZ	A2Z Smart Technologies	Pair Corr
0.78	BV	BrightView Holdings	Pair Corr
0.69	BW	Babcock Wilcox Enter	Pair Corr
0.65	CR	Crane Company	Pair Corr
0.79	CW	Curtiss Wright	Pair Corr
0.61	EH	Ehang Holdings	Pair Corr
0.72	IR	Ingersoll Rand Sell-off Trend	Pair Corr
0.65	KE	Kimball Electronics	Pair Corr

Moving against LiCycle Stock

0.58	HDSN	Hudson Technologies	Pair Corr
0.58	CMPR	Cimpress NV	Pair Corr
0.53	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.48	MEG	Montrose Environmental	Pair Corr
0.48	CP	Canadian Pacific Railway	Pair Corr
0.41	ACU	Acme United	Pair Corr
0.31	WCN	Waste Connections	Pair Corr
0.65	RR	Richtech Robotics Class	Pair Corr
0.58	DLHC	DLH Holdings Corp Fiscal Year End 4th of December 2024	Pair Corr
0.51	MG	Mistras Group	Pair Corr
0.45	SB	Safe Bulkers	Pair Corr
0.44	CODI-PA	Compass Diversified	Pair Corr
0.43	TH	Target Hospitality Corp	Pair Corr
0.32	DMYY	dMY Squared Technology	Pair Corr

Related Correlations Analysis

	HCCI	CWST	PESI	MEG	LNZAW	HSC	RSG	WCN	CLH	GFL
HCCI		0.43	0.64	-0.65	-0.53	0.68	0.62	0.31	0.39	0.83	HCCI
CWST	0.43		-0.07	0.11	-0.13	0.06	0.83	0.88	0.16	0.67	CWST
PESI	0.64	-0.07		-0.61	-0.27	0.87	0.13	-0.3	0.65	0.38	PESI
MEG	-0.65	0.11	-0.61		0.54	-0.56	-0.24	0.11	-0.38	-0.31	MEG
LNZAW	-0.53	-0.13	-0.27	0.54		-0.23	-0.37	-0.15	-0.16	-0.37	LNZAW
HSC	0.68	0.06	0.87	-0.56	-0.23		0.26	-0.11	0.65	0.4	HSC
RSG	0.62	0.83	0.13	-0.24	-0.37	0.26		0.84	0.42	0.79	RSG
WCN	0.31	0.88	-0.3	0.11	-0.15	-0.11	0.84		0.06	0.58	WCN
CLH	0.39	0.16	0.65	-0.38	-0.16	0.65	0.42	0.06		0.29	CLH
GFL	0.83	0.67	0.38	-0.31	-0.37	0.4	0.79	0.58	0.29		GFL
	HCCI	CWST	PESI	MEG	LNZAW	HSC	RSG	WCN	CLH	GFL

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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

WCN	+ 0.88	CWST
HSC	+ 0.87	PESI
WCN	+ 0.84	RSG
GFL	+ 0.83	HCCI
RSG	+ 0.83	CWST
GFL	+ 0.79	RSG

High negative correlations

MEG	- 0.65	HCCI
MEG	- 0.61	PESI
HSC	- 0.56	MEG
LNZAW	- 0.53	HCCI
CLH	- 0.38	MEG
GFL	- 0.37	LNZAW

Risk-Adjusted Indicators

There is a big difference between LiCycle Stock performing well and LiCycle Holdings 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 LiCycle Holdings' 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
HCCI	1.59	0.43	0.20	1.00	1.51	(1.77)	5.13	(3.24)	11.13
CWST	1.13	(0.06)	(0.02)	0.04	1.61	(1.15)	2.01	(2.60)	7.60
PESI	2.68	0.35	0.14	0.22	2.95	(3.13)	8.09	(6.95)	18.64
MEG	3.52	(0.86)	0.00	(1.57)	0.00	0.00	6.31	(7.73)	27.87
LNZAW	4.40	(1.08)	0.00	(8.68)	0.00	0.00	6.67	(9.04)	27.53
HSC	2.57	0.39	0.14	0.44	2.48	(2.95)	6.26	(3.78)	24.00
RSG	0.76	0.01	(0.03)	0.10	1.07	(0.69)	1.69	(1.76)	4.87
WCN	0.68	0.00	(0.06)	0.08	0.87	(0.70)	1.37	(1.55)	4.00
CLH	1.23	(0.07)	(0.01)	0.04	2.38	(1.11)	2.02	(1.99)	13.89
GFL	1.23	0.05	0.02	0.15	1.36	(1.32)	2.97	(2.29)	7.37

LiCycle Holdings Corporate Management

Conor Spollen	Chief Officer	Profile
Anthony Tse	Independent Director	Profile
Tim Johnston	Executive Chairman of the Board, Co-Founder	Profile
Dawei Li	Regional President APAC	Profile
Craig Cunningham	Chief Officer	Profile
Mark Wellings	Independent Director	Profile

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