Lite On Correlations
| 2301 Stock | TWD 109.00 1.00 0.93% |
The current 90-days correlation between Lite On Technology and Compal Electronics is 0.14 (i.e., Average diversification). The correlation of Lite On 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.
Lite On Correlation With Market
Good diversification
The correlation between Lite On Technology Corp and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lite On Technology Corp and DJI in the same portfolio, assuming nothing else is changed.
Lite |
The ability to find closely correlated positions to Lite On could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lite On 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 Lite On - 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 Lite On Technology Corp to buy it.
Moving against Lite Stock
Related Correlations Analysis
| -0.1 | 0.09 | 0.46 | 0.45 | 2324 | ||
| -0.1 | -0.44 | 0.23 | -0.6 | 2308 | ||
| 0.09 | -0.44 | -0.04 | 0.16 | 2382 | ||
| 0.46 | 0.23 | -0.04 | 0.12 | 2356 | ||
| 0.45 | -0.6 | 0.16 | 0.12 | 2347 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Lite Stock performing well and Lite On 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 Lite On'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2324 | 1.13 | 0.04 | (0.04) | (0.15) | 1.47 | 2.71 | 11.10 | |||
| 2308 | 1.34 | 0.17 | 0.02 | (0.26) | 1.56 | 3.23 | 8.17 | |||
| 2382 | 1.35 | (0.22) | 0.00 | 0.72 | 0.00 | 2.79 | 8.73 | |||
| 2356 | 1.49 | 0.13 | 0.01 | (1.18) | 1.82 | 3.24 | 15.72 | |||
| 2347 | 0.85 | (0.03) | 0.00 | (2.71) | 0.00 | 1.56 | 6.82 |
Lite On Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Lite On stock to make a market-neutral strategy. Peer analysis of Lite On could also be used in its relative valuation, which is a method of valuing Lite On by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Lite On Corporate Management
Elected by the shareholders, the Lite On's board of directors comprises two types of representatives: Lite On inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Lite. The board's role is to monitor Lite On's management team and ensure that shareholders' interests are well served. Lite On's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Lite On's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Lando Lin | Deputy General Manager | Profile | |
| May Chiu | Assistant IP | Profile | |
| Peifen Chou | Chief Officer | Profile | |
| Julia Wang | Director PR | Profile | |
| Anson Chiu | Deputy General Manager | Profile | |
| Jean Hong | Deputy General Manager | Profile | |
| Michelle Hsiao | Financial Officer | Profile |