LiCycle Holdings Correlations
| LICY Stock | USD 0.66 0.04 5.71% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as LiCycle Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LiCycle Holdings Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between LiCycle Holdings Corp and NYA is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LiCycle Holdings Corp and NYA in the same portfolio, assuming nothing else is changed.
LiCycle |
The ability to find closely correlated positions to LiCycle Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LiCycle Holdings 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 LiCycle Holdings - 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 LiCycle Holdings Corp to buy it.
Moving together with LiCycle Stock
| 0.84 | BV | BrightView Holdings Earnings Call Tomorrow | PairCorr |
| 0.66 | LZ | LegalZoom Financial Report 14th of May 2024 | PairCorr |
| 0.81 | MG | Mistras Group | PairCorr |
| 0.82 | NL | NL Industries | PairCorr |
| 0.72 | VSEC | VSE Corporation Financial Report 6th of May 2024 | PairCorr |
| 0.77 | ABM | ABM Industries rporated Financial Report 4th of June 2024 | PairCorr |
| 0.77 | KAR | KAR Auction Services Financial Report 7th of May 2024 | PairCorr |
Moving against LiCycle Stock
| 0.6 | FA | First Advantage Corp Financial Report 8th of May 2024 | PairCorr |
| 0.6 | VRSK | Verisk Analytics Financial Report 1st of May 2024 | PairCorr |
| 0.58 | DLHC | DLH Holdings Corp Earnings Call This Week | PairCorr |
| 0.47 | ARC | ARC Document Solutions Earnings Call This Week | PairCorr |
| 0.69 | OMEX | Odyssey Marine Explo | PairCorr |
| 0.68 | SMX | SMX Public Limited | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NTIP | 1.44 | (0.21) | 0.00 | (0.42) | 0.00 | 2.91 | 9.32 | |||
| CVEO | 1.45 | 0.01 | 0.00 | 0.06 | 2.16 | 3.04 | 12.68 | |||
| MMS | 0.99 | (0.11) | 0.00 | (0.04) | 0.00 | 2.25 | 7.92 | |||
| CBZ | 1.25 | 0.06 | 0.05 | 0.08 | 1.81 | 2.18 | 12.35 | |||
| FA | 1.12 | (0.07) | 0.00 | (0.01) | 0.00 | 2.79 | 9.83 | |||
| CASS | 1.40 | (0.09) | (0.03) | 0.00 | 2.02 | 2.84 | 16.34 | |||
| DPUI | 15.29 | 6.69 | 0.00 | (1.36) | 0.00 | 14.29 | 450.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in LiCycle Holdings 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.Did you try this?
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LiCycle Holdings Corporate Management
Elected by the shareholders, the LiCycle Holdings' board of directors comprises two types of representatives: LiCycle Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of LiCycle. The board's role is to monitor LiCycle Holdings' management team and ensure that shareholders' interests are well served. LiCycle Holdings' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, LiCycle Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Anthony Tse | Independent Director | Profile | |
| Tim Johnston | Executive Chairman of the Board, Co-Founder | Profile | |
| Dawei Li | Regional President APAC | Profile | |
| Mark Wellings | Independent Director | Profile | |
| Nahla Azmy | Senior Communications | Profile | |
| Kunal Phalpher | Chief Strategy Officer | Profile |
Already Invested in LiCycle Holdings Corp?
The danger of trading LiCycle Holdings Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of LiCycle Holdings is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than LiCycle Holdings. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile LiCycle Holdings Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether LiCycle Holdings Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of LiCycle Holdings' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Licycle Holdings Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Licycle Holdings Corp Stock: 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 tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. Note that the LiCycle Holdings Corp information on this page should be used as a complementary analysis to other LiCycle Holdings' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Complementary Tools for LiCycle Stock analysis
When running LiCycle Holdings' price analysis, check to measure LiCycle Holdings' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy LiCycle Holdings is operating at the current time. Most of LiCycle Holdings' value examination focuses on studying past and present price action to predict the probability of LiCycle Holdings' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move LiCycle Holdings' price. Additionally, you may evaluate how the addition of LiCycle Holdings to your portfolios can decrease your overall portfolio volatility.
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Is LiCycle Holdings' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of LiCycle Holdings. If investors know LiCycle will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about LiCycle Holdings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.03) | Earnings Share (0.78) | Revenue Per Share 0.103 | Quarterly Revenue Growth (0.74) | Return On Assets (0.11) |
The market value of LiCycle Holdings Corp is measured differently than its book value, which is the value of LiCycle that is recorded on the company's balance sheet. Investors also form their own opinion of LiCycle Holdings' value that differs from its market value or its book value, called intrinsic value, which is LiCycle Holdings' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because LiCycle Holdings' market value can be influenced by many factors that don't directly affect LiCycle Holdings' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between LiCycle Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if LiCycle Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, LiCycle Holdings' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.