Ming Le Correlations

ML2 Stock

EUR 1.20 0.10 7.69%

The current 90-days correlation between Ming Le Sports and HM HENMAUUNSPADR 15 is -0.05 (i.e., Good diversification). The correlation of Ming Le 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.

Ming Le Correlation With Market

Good diversification

The correlation between Ming Le Sports and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ming Le Sports and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ming Stock

0.7	HMSB	H M Hennes	Pair Corr
0.73	HMSB	H M Hennes	Pair Corr
0.64	PRL	Ralph Lauren	Pair Corr
0.72	VGA	Gildan Activewear	Pair Corr
0.84	NSE	Nomura Holdings	Pair Corr
0.75	7RY	Ryerson Holding	Pair Corr
0.76	3O8	Omeros	Pair Corr
0.82	VA7A	VERISK ANLYTCS A	Pair Corr
0.73	PCG6	PG E P6	Pair Corr
0.87	AF4	HANOVER INSURANCE	Pair Corr
0.84	ZIM	Zimmer Biomet Holdings	Pair Corr
0.71	6GAA	Grupo Aval Acciones	Pair Corr
0.71	EQN2	Equinix	Pair Corr
0.66	0XHR	Xenia Hotels Resorts	Pair Corr
0.8	ADH2	Air Canada	Pair Corr
0.85	PPB	Flutter Entertainment PLC	Pair Corr
0.7	WX1	Acadia Realty Trust	Pair Corr
0.66	VAI	Vail Resorts	Pair Corr

Moving against Ming Stock

0.74	MOV	Moncler SpA	Pair Corr
0.72	QB3	Quebecor	Pair Corr
0.66	HMSA	HM HENMAUUNSPADR	Pair Corr
0.61	AZ6	EuropaCorp	Pair Corr
0.6	MKO	Capri Holdings	Pair Corr
0.44	GHDN	Brainstorm Cell Ther Split	Pair Corr
0.43	LV2B	Levi Strauss	Pair Corr
0.36	AHD	ASHFORD HOSPITTRUST Split	Pair Corr
0.35	VAR1	Varta AG	Pair Corr

Related Correlations Analysis

	HMSA	HMSB	HMSB	MOV	VFP	PRL	LV2B	3BD	MKO	VGA
HMSA		-0.42	-0.49	0.63	-0.68	-0.74	0.72	-0.1	0.81	-0.88	HMSA
HMSB	-0.42		0.98	-0.53	0.42	0.76	-0.22	-0.29	-0.45	0.59	HMSB
HMSB	-0.49	0.98		-0.55	0.46	0.79	-0.28	-0.27	-0.5	0.64	HMSB
MOV	0.63	-0.53	-0.55		-0.32	-0.48	0.58	0.43	0.69	-0.64	MOV
VFP	-0.68	0.42	0.46	-0.32		0.74	-0.43	0.02	-0.71	0.69	VFP
PRL	-0.74	0.76	0.79	-0.48	0.74		-0.49	0.05	-0.66	0.9	PRL
LV2B	0.72	-0.22	-0.28	0.58	-0.43	-0.49		-0.28	0.74	-0.69	LV2B
3BD	-0.1	-0.29	-0.27	0.43	0.02	0.05	-0.28		0.13	0.07	3BD
MKO	0.81	-0.45	-0.5	0.69	-0.71	-0.66	0.74	0.13		-0.8	MKO
VGA	-0.88	0.59	0.64	-0.64	0.69	0.9	-0.69	0.07	-0.8		VGA
	HMSA	HMSB	HMSB	MOV	VFP	PRL	LV2B	3BD	MKO	VGA

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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

HMSB	+ 0.98	HMSB
VGA	+ 0.9	PRL
MKO	+ 0.81	HMSA
PRL	+ 0.79	HMSB
PRL	+ 0.76	HMSB
PRL	+ 0.74	VFP

High negative correlations

VGA	- 0.88	HMSA
VGA	- 0.8	MKO
PRL	- 0.74	HMSA
MKO	- 0.71	VFP
VGA	- 0.69	LV2B
VFP	- 0.68	HMSA

Risk-Adjusted Indicators

There is a big difference between Ming Stock performing well and Ming Le 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 Ming Le'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
HMSA	1.49	(0.23)	0.00	(1.42)	0.00	0.00	3.13	(2.99)	10.27
HMSB	1.83	0.14	0.05	(1.54)	2.17	(2.16)	4.30	(3.71)	26.29
HMSB	1.73	0.17	0.07	1.49	1.98	(1.86)	3.51	(2.94)	30.57
MOV	1.62	(0.01)	(0.01)	0.00	1.91	(1.99)	3.27	(3.35)	14.69
VFP	2.94	0.42	0.12	(0.43)	2.87	(3.64)	6.70	(4.72)	31.58
PRL	1.47	0.36	0.27	0.40	1.05	(1.94)	4.34	(1.97)	10.41
LV2B	1.61	(0.13)	0.00	(0.20)	0.00	0.00	3.32	(2.77)	14.39
3BD	3.33	0.56	0.12	(1.04)	3.28	(4.48)	9.09	(6.25)	20.71
MKO	2.80	(0.57)	0.00	(0.27)	0.00	0.00	6.98	(4.18)	54.91
VGA	0.85	0.13	0.10	0.31	0.79	(1.11)	1.83	(1.68)	4.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ming Le 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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