Mingzhu Logistics Correlations

Stocks . USA . 
Stock . Mingzhu Logistics Holdings
YGMZ Stock  USD 0.88  0.07  7.37%   
The current 90-days correlation between Mingzhu Logistics and Universal Logistics Holdings is -0.09 (i.e., Good diversification). The correlation of Mingzhu Logistics 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.

Mingzhu Logistics Correlation With Market

Good diversification

The correlation between Mingzhu Logistics Holdings and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mingzhu Logistics Holdings and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Mingzhu Logistics Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Mingzhu Stock

  0.63AZUL Azul SAPairCorr

Moving against Mingzhu Stock

  0.53ULH Universal LogisticsPairCorr
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Related Correlations Analysis

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