RLX TECH Correlations

3CM Stock

EUR 2.04 0.02 0.99%

The current 90-days correlation between RLX TECH SPADR1 and NH Foods is 0.11 (i.e., Average 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.

RLX TECH Correlation With Market

Average diversification

The correlation between RLX TECH SPADR1 and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RLX TECH SPADR1 and DJI in the same portfolio, assuming nothing else is changed.

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

0.65	1KJ	10X GENOMICS DL	Pair Corr
0.68	9EH	Evolent Health	Pair Corr
0.76	C6T	China Construction Bank Earnings Call This Week	Pair Corr
0.64	JPX	AeroVironment	Pair Corr
0.63	E5T	EUROTECH	Pair Corr
0.67	MGK	Magic Software Enter	Pair Corr
0.66	HL80	HF SINCLAIR P	Pair Corr

Moving against RLX Stock

0.51	BZG2	PT Bank Central	Pair Corr
0.47	BYRA	PT Bank Rakyat	Pair Corr
0.44	NVPJ	TMBThanachart Bank Public	Pair Corr
0.37	PJM	PT Bumi Resources	Pair Corr

Related Correlations Analysis

	8QC	6CF	NI6	AON	CFH	0M7	A9U	AFO1
8QC		0.8	-0.22	0.45	0.77	0.9	0.46	0.5	8QC
6CF	0.8		-0.11	0.48	0.78	0.7	0.41	0.51	6CF
NI6	-0.22	-0.11		0.64	0.18	-0.12	0.03	0.52	NI6
AON	0.45	0.48	0.64		0.65	0.49	0.25	0.81	AON
CFH	0.77	0.78	0.18	0.65		0.74	0.36	0.71	CFH
0M7	0.9	0.7	-0.12	0.49	0.74		0.52	0.57	0M7
A9U	0.46	0.41	0.03	0.25	0.36	0.52		0.28	A9U
AFO1	0.5	0.51	0.52	0.81	0.71	0.57	0.28		AFO1
	8QC	6CF	NI6	AON	CFH	0M7	A9U	AFO1

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

0M7	+ 0.9	8QC
AFO1	+ 0.81	AON
6CF	+ 0.8	8QC
CFH	+ 0.78	6CF
CFH	+ 0.77	8QC
0M7	+ 0.74	CFH

High negative correlations

NI6	- 0.22	8QC
0M7	- 0.12	NI6
NI6	- 0.11	6CF

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
8QC	1.05	0.11	0.04	0.34	1.02	(1.27)	2.68	(2.04)	6.30
6CF	1.50	0.21	0.11	0.35	1.22	(2.45)	3.00	(2.75)	20.47
NI6	0.89	0.08	(0.01)	3.14	1.11	(1.32)	2.61	(1.41)	8.72
AON	1.16	0.15	0.05	0.70	1.07	(1.65)	2.49	(1.64)	5.91
CFH	2.50	0.14	0.03	0.20	2.93	(4.02)	6.45	(6.06)	17.95
0M7	2.12	0.36	0.05	1.67	2.15	(6.24)	6.25	(5.56)	16.76
A9U	2.11	0.40	0.11	0.64	2.53	(3.38)	3.68	(3.55)	34.96
AFO1	1.11	0.12	0.02	3.06	1.22	(1.31)	2.34	(2.31)	4.92

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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