Li Ning Correlations

LNNGY Stock

USD 68.50 1.35 2.01%

The current 90-days correlation between Li Ning and Thule Group AB is -0.27 (i.e., Very 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

Very weak diversification

The correlation between Li Ning Co and DJI is 0.5 (i.e., Very weak 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.

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

0.86	LNNGF	Li Ning Company	Pair Corr
0.65	SHMDF	Shimano Earnings Call This Week	Pair Corr
0.69	SMNNY	Shimano Inc ADR	Pair Corr
0.68	EPIAF	Epiroc AB	Pair Corr
0.74	NGPHF	Northern Graphite	Pair Corr
0.72	TOLWF	Trican Well Service	Pair Corr
0.66	TYGO	Tigo Energy Earnings Call This Week	Pair Corr

Moving against LNNGY Pink Sheet

0.76	NCBDY	BANDAI NAMCO Holdings	Pair Corr
0.7	OLCLY	Oriental Land	Pair Corr
0.62	ANPDY	ANTA Sports Products	Pair Corr
0.57	ERHE	ERHC Energy	Pair Corr
0.52	FSTF	First State Financial	Pair Corr
0.4	ANPDF	ANTA Sports Products	Pair Corr
0.53	VTR	Ventas Inc	Pair Corr
0.4	WTII	Water Technologies	Pair Corr

Related Correlations Analysis

	THUPY	LFDJF	IVCGF	YORUY	MNTHY	BKGFY	HNORY	PSMMY	JDDSF	PSMMF
THUPY		0.17	-0.55	-0.65	-0.17	-0.73	0.0	-0.71	-0.43	0.0	THUPY
LFDJF	0.17		-0.55	-0.34	0.22	-0.01	0.0	-0.5	-0.1	0.0	LFDJF
IVCGF	-0.55	-0.55		0.69	0.11	0.68	0.0	0.86	0.21	0.0	IVCGF
YORUY	-0.65	-0.34	0.69		-0.08	0.66	0.0	0.71	0.45	0.0	YORUY
MNTHY	-0.17	0.22	0.11	-0.08		0.33	0.0	0.14	-0.31	0.0	MNTHY
BKGFY	-0.73	-0.01	0.68	0.66	0.33		0.0	0.75	0.39	0.0	BKGFY
HNORY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	HNORY
PSMMY	-0.71	-0.5	0.86	0.71	0.14	0.75	0.0		0.36	0.0	PSMMY
JDDSF	-0.43	-0.1	0.21	0.45	-0.31	0.39	0.0	0.36		0.0	JDDSF
PSMMF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PSMMF
	THUPY	LFDJF	IVCGF	YORUY	MNTHY	BKGFY	HNORY	PSMMY	JDDSF	PSMMF

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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

PSMMY	+ 0.86	IVCGF
PSMMY	+ 0.75	BKGFY
PSMMY	+ 0.71	YORUY
YORUY	+ 0.69	IVCGF
BKGFY	+ 0.68	IVCGF
BKGFY	+ 0.66	YORUY

High negative correlations

BKGFY	- 0.73	THUPY
PSMMY	- 0.71	THUPY
YORUY	- 0.65	THUPY
IVCGF	- 0.55	LFDJF
IVCGF	- 0.55	THUPY
PSMMY	- 0.5	LFDJF

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	1.24	(0.06)	0.00	0.56	0.00	0.00	4.53	(4.37)	11.58
LFDJF	0.57	(0.15)	0.00	(0.56)	0.00	0.00	0.97	(1.15)	7.36
IVCGF	0.52	0.08	0.06	(2.47)	0.55	(0.64)	1.30	(0.80)	4.24
YORUY	1.26	0.70	0.00	(0.35)	0.00	0.00	0.00	0.00	40.38
MNTHY	1.74	(0.07)	0.00	(0.06)	0.00	0.00	4.68	(4.90)	22.40
BKGFY	1.64	0.15	0.07	0.15	1.93	(1.68)	3.48	(3.07)	9.31
HNORY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PSMMY	1.38	0.28	0.14	0.34	1.65	(1.44)	2.97	(2.93)	8.91
JDDSF	0.23	(0.09)	0.00	(0.24)	0.00	0.00	0.00	(0.86)	5.31
PSMMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Li Ning 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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