Li Ning Correlations
| LNNGY Stock | USD 71.71 1.29 1.77% |
The current 90-days correlation between Li Ning and Thule Group AB is -0.13 (i.e., Good diversification). The correlation of Li Ning 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.
Li Ning Correlation With Market
Poor diversification
The correlation between Li Ning Co and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Li Ning Co and DJI in the same portfolio, assuming nothing else is changed.
LNNGY |
The ability to find closely correlated positions to Li Ning could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Li Ning 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 Li Ning - 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 Li Ning Co to buy it.
Moving together with LNNGY Pink Sheet
| 0.77 | CUK | Carnival Plc ADS | PairCorr |
| 0.91 | LNNGF | Li Ning Company | PairCorr |
| 0.73 | SHMDF | Shimano | PairCorr |
| 0.62 | SMNNY | Shimano Inc ADR | PairCorr |
| 0.88 | CUB | Lionheart Holdings | PairCorr |
| 0.7 | WH | Wyndham Hotels Resorts | PairCorr |
| 0.71 | PILBF | Pilbara Minerals | PairCorr |
| 0.69 | PCH | PotlatchDeltic Corp | PairCorr |
| 0.87 | JPM-PD | JPMorgan Chase | PairCorr |
| 0.82 | MTNOF | MTN Group Limited | PairCorr |
| 0.88 | LPG | Dorian LPG | PairCorr |
| 0.78 | FGFI | First Greenwich Financial | PairCorr |
| 0.89 | EE | Excelerate Energy Earnings Call This Week | PairCorr |
| 0.89 | FGBIP | First Guaranty Bancshares | PairCorr |
| 0.87 | ASML | ASML Holding NV | PairCorr |
| 0.8 | NPKI | NPK International | PairCorr |
| 0.71 | PSA-PJ | Public Storage | PairCorr |
| 0.77 | SBFFF | SBM Offshore NV | PairCorr |
| 0.84 | SRXXF | SPARX Group | PairCorr |
| 0.76 | BRER | Bresler Reiner | PairCorr |
| 0.66 | HEPS | D MARKET Electronic | PairCorr |
| 0.75 | CSBI | Carroll Shelby Inter | PairCorr |
| 0.76 | WGO | Winnebago Industries | PairCorr |
Moving against LNNGY Pink Sheet
| 0.69 | NCBDY | BANDAI NAMCO Holdings | PairCorr |
| 0.68 | OLCLY | Oriental Land | PairCorr |
| 0.33 | GPN | Global Payments | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between LNNGY Pink Sheet performing well and Li Ning 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 Li Ning'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| THUPY | 1.57 | (0.04) | 0.00 | 1.49 | 0.00 | 5.11 | 14.25 | |||
| LFDJF | 0.84 | 0.07 | 0.00 | 0.20 | 0.00 | 2.06 | 9.92 | |||
| IVCGF | 0.54 | 0.10 | 0.01 | (0.48) | 0.55 | 1.39 | 4.24 | |||
| YORUY | 1.21 | 0.65 | 0.00 | (1.01) | 0.00 | 0.00 | 40.38 | |||
| MNTHY | 1.96 | 0.50 | 0.13 | (1.25) | 1.72 | 6.34 | 22.40 | |||
| BKGFY | 1.43 | 0.19 | 0.09 | 0.30 | 1.69 | 3.48 | 7.94 | |||
| HNORY | 0.77 | (0.38) | 0.00 | 1.70 | 0.00 | 0.00 | 25.82 | |||
| PSMMY | 1.15 | 0.26 | 0.14 | 0.55 | 1.26 | 2.50 | 7.55 | |||
| JDDSF | 0.39 | (0.17) | 0.00 | (0.79) | 0.00 | 0.00 | 12.59 | |||
| PSMMF | 0.77 | 0.38 | 0.00 | (3.21) | 0.00 | 0.00 | 16.26 |
Be your own money manager
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