Li-Cycle Holdings Correlations

LICY
 Stock
  

USD 6.22  0.10  1.63%   

The correlation of Li-Cycle Holdings is a statistical measure of how it moves in relation to other equities. 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 Li-Cycle Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Li-Cycle 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.
Additionally, see Correlation Analysis.
  
The ability to find closely correlated positions to Li-Cycle 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 Li-Cycle 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 Li-Cycle 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 Li-Cycle Holdings Corp to buy it.

Moving together with Li-Cycle Holdings

+0.78WMWaste ManagementPairCorr
+0.76RSGRepublic ServicesPairCorr
+0.66WCNWaste ConnectionsPairCorr
+0.81GFLGfl EnvironmentalPairCorr
+0.76SRCLStericyclePairCorr
+0.72CWSTCasella Waste SysPairCorr
+0.85AAPLApple IncPairCorr
+0.82MSFTMicrosoft CorpPairCorr
+0.71GOOGAlphabet Cl CPairCorr
+0.632881FUBON FINANCIAL HLDGPairCorr

Moving against Li-Cycle Holdings

-0.71NMHLYNMC HEALTH PLCPairCorr

Related Correlations

SRCL
RSG
WM
MRK
SRCL
0.510.570.09
SRCL
RSG
0.510.98-0.64
RSG
WM
0.570.98-0.57
WM
MRK
0.09-0.64-0.57
MRK
SRCL
RSG
WM
MRK
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
WMRSG
WMSRCL
RSGSRCL
MRKSRCL
  
High negative correlations   
MRKRSG
MRKWM

Li-Cycle Holdings Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Li-Cycle Stock performing well and Li-Cycle Holdings company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Li-Cycle Holdings' multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Li-Cycle 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.

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Li-Cycle Holdings Corporate Management

Elected by the shareholders, the Li-Cycle Holdings' board of directors comprises two types of representatives: Li-Cycle Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Li-Cycle. The board's role is to monitor Li-Cycle Holdings' management team and ensure that shareholders' interests are well served. Li-Cycle 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, Li-Cycle Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.
Anthony Tse - Independent DirectorProfile
Tim Johnston - Executive Chairman of the Board, Co-FounderProfile
Dawei Li - Regional President APACProfile
Mark Wellings - Independent DirectorProfile
Kunal Phalpher - Chief Strategy OfficerProfile

Invested in Li-Cycle Holdings Corp?

The danger of trading Li-Cycle 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 Li-Cycle 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 Li-Cycle Holdings. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Li-Cycle 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.
Additionally, see Correlation Analysis. Note that the Li-Cycle Holdings Corp information on this page should be used as a complementary analysis to other Li-Cycle 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 Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.

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When running Li-Cycle Holdings Corp price analysis, check to measure Li-Cycle 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 Li-Cycle Holdings is operating at the current time. Most of Li-Cycle Holdings' value examination focuses on studying past and present price action to predict the probability of Li-Cycle Holdings' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Li-Cycle Holdings' price. Additionally, you may evaluate how the addition of Li-Cycle Holdings to your portfolios can decrease your overall portfolio volatility.
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Is Li-Cycle 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 Li-Cycle Holdings. If investors know Li-Cycle 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 Li-Cycle Holdings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
1.1 B
Quarterly Revenue Growth YOY
32.62
Return On Assets
(0.11) 
Return On Equity
(0.85) 
The market value of Li-Cycle Holdings Corp is measured differently than its book value, which is the value of Li-Cycle that is recorded on the company's balance sheet. Investors also form their own opinion of Li-Cycle Holdings' value that differs from its market value or its book value, called intrinsic value, which is Li-Cycle 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 Li-Cycle Holdings' market value can be influenced by many factors that don't directly affect Li-Cycle 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 Li-Cycle Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine Li-Cycle Holdings value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Li-Cycle 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.