RLX TECH Correlations

Stocks Germany . 
Stock . RLX TECH SPADR1
3CM Stock  EUR 1.90  0.02  1.06%   
The current 90-days correlation between RLX TECH SPADR1 and CyberArk Software is -0.12 (i.e., Good diversification). The correlation of RLX TECH 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.
  
The ability to find closely correlated positions to RLX TECH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RLX TECH 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 RLX TECH - 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 RLX TECH SPADR1 to buy it.

Moving together with RLX Stock

  0.751KJ 10X GENOMICS DLPairCorr
  0.81GD6 Ramsay Gnrale dePairCorr
  0.63UGI Sugi Holdings CoLtdPairCorr
  0.85MSF Microsoft Earnings Call This WeekPairCorr
  0.660M7 COFCO Joycome FoodsPairCorr
  0.77HU3 Huntington BancsharesPairCorr
  0.68TQR Beijing Tong RenPairCorr
  0.74E908 Lyxor 1PairCorr

Moving against RLX Stock

  0.58DBPD Xtrackers ShortDAXPairCorr
  0.51HVB STRA HannoverschePairCorr
  0.48A2R Accent Resources Earnings Call TomorrowPairCorr

Related Correlations Analysis

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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   
OS3
+ 0.79
US3
KDIC
+ 0.75
OS3
0GS
+ 0.68
CYB
KDIC
+ 0.6
US3
OS3
+ 0.45
CYB
PSAN
+ 0.45
A9F
  
High negative correlations   
KDIC
- 0.37
A9F
US3
- 0.27
A9F
OS3
- 0.24
A9F

Risk-Adjusted Indicators

There is a big difference between RLX Stock performing well and RLX TECH 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 RLX TECH'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in RLX TECH 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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