Lite Strategy Correlations

LITS Stock

1.06 0.11 11.58%

The current 90-days correlation between Lite Strategy and IO Biotech is 0.13 (i.e., Average diversification). The correlation of Lite Strategy 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 Strategy Correlation With Market

Pay attention - limited upside

The correlation between Lite Strategy and DJI is -0.72 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lite Strategy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Lite Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lite Strategy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in poverty.

For more information on how to buy Lite Stock please use our How to Invest in Lite Strategy guide.

Moving together with Lite Stock

0.61	ARGX	argenx NV ADR	Pair Corr
0.86	ALNY	Alnylam Pharmaceuticals Earnings Call This Week	Pair Corr
0.77	LPTV	Loop Media	Pair Corr

Moving against Lite Stock

0.86	AMP	Ameriprise Financial	Pair Corr
0.85	UNF	Unifirst	Pair Corr
0.84	TTC	Toro	Pair Corr
0.81	TCBI	Texas Capital Bancshares	Pair Corr
0.79	VRTX	Vertex Pharmaceuticals	Pair Corr
0.78	IFS	Intercorp Financial Earnings Call This Week	Pair Corr
0.76	CLKXF	TWC Enterprises	Pair Corr
0.69	COCCF	Coast Copper Corp	Pair Corr
0.67	BFH	Bread Financial Holdings	Pair Corr
0.66	PPHI	Positive Physicians	Pair Corr
0.66	NKWFF	Oceanic Wind Energy	Pair Corr
0.64	REGN	Regeneron Pharmaceuticals	Pair Corr
0.62	CVNA	Carvana	Pair Corr
0.6	JEF	Jefferies Financial	Pair Corr
0.58	INDV	Indivior PLC Ordinary Earnings Call This Week	Pair Corr
0.53	NONOF	Novo Nordisk AS	Pair Corr
0.53	GLWLF	Glow Lifetech Corp	Pair Corr
0.5	NVO	Novo Nordisk AS	Pair Corr
0.46	CSLLY	CSL Earnings Call This Week	Pair Corr
0.46	GME	GameStop Corp	Pair Corr
0.41	CMXHF	CSL Limited Earnings Call This Week	Pair Corr
0.89	RKLIF	Rentokil Initial plc	Pair Corr
0.89	NFYEF	NFI Group	Pair Corr
0.88	TFII	TFI International Earnings Call This Week	Pair Corr
0.87	GGZ	Gabelli Global Small	Pair Corr
0.87	SCBFY	Standard Chartered PLC	Pair Corr
0.83	ACGYF	Subsea 7 SA	Pair Corr
0.83	KRG	Kite Realty Group	Pair Corr
0.82	SHVLF	Starcore International	Pair Corr
0.82	LAUR	Laureate Education	Pair Corr

Related Correlations Analysis

	TCRX	ACET	IMUX	PMVP	RLMD	NTRB	ACRV	HOWL	XBIT	IOBT
TCRX		0.4	0.48	0.09	-0.4	0.29	-0.2	0.05	0.4	0.03	TCRX
ACET	0.4		0.74	0.79	-0.51	0.82	0.15	0.7	-0.16	0.64	ACET
IMUX	0.48	0.74		0.53	-0.47	0.58	-0.05	0.56	0.07	0.38	IMUX
PMVP	0.09	0.79	0.53		-0.07	0.66	0.5	0.62	-0.18	0.8	PMVP
RLMD	-0.4	-0.51	-0.47	-0.07		-0.6	0.39	-0.46	0.12	-0.12	RLMD
NTRB	0.29	0.82	0.58	0.66	-0.6		0.13	0.75	-0.09	0.62	NTRB
ACRV	-0.2	0.15	-0.05	0.5	0.39	0.13		0.33	-0.16	0.57	ACRV
HOWL	0.05	0.7	0.56	0.62	-0.46	0.75	0.33		-0.26	0.73	HOWL
XBIT	0.4	-0.16	0.07	-0.18	0.12	-0.09	-0.16	-0.26		-0.28	XBIT
IOBT	0.03	0.64	0.38	0.8	-0.12	0.62	0.57	0.73	-0.28		IOBT
	TCRX	ACET	IMUX	PMVP	RLMD	NTRB	ACRV	HOWL	XBIT	IOBT

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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

NTRB	+ 0.82	ACET
IOBT	+ 0.8	PMVP
PMVP	+ 0.79	ACET
HOWL	+ 0.75	NTRB
IMUX	+ 0.74	ACET
IOBT	+ 0.73	HOWL

High negative correlations

NTRB	- 0.6	RLMD
RLMD	- 0.51	ACET
RLMD	- 0.47	IMUX
HOWL	- 0.46	RLMD
RLMD	- 0.4	TCRX
IOBT	- 0.28	XBIT

Risk-Adjusted Indicators

There is a big difference between Lite Stock performing well and Lite Strategy 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 Strategy'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
TCRX	3.70	(0.42)	0.00	(0.05)	0.00	0.00	11.93	(7.41)	23.74
ACET	3.46	(0.81)	0.00	(0.41)	0.00	0.00	6.19	(7.60)	21.12
IMUX	3.59	(0.31)	0.00	(0.14)	0.00	0.00	9.43	(6.58)	21.44
PMVP	2.42	(0.47)	0.00	(0.57)	0.00	0.00	5.98	(4.63)	17.05
RLMD	4.50	1.03	0.21	11.30	4.06	(5.79)	9.30	(9.21)	36.80
NTRB	3.36	(0.44)	0.00	7.12	0.00	0.00	6.19	(7.06)	32.02
ACRV	4.83	(0.33)	0.00	(0.18)	0.00	0.00	7.98	(9.09)	66.02
HOWL	4.53	(1.01)	0.00	(0.52)	0.00	0.00	7.69	(8.00)	51.90
XBIT	3.27	0.00	0.02	0.08	3.29	(4.15)	6.67	(5.78)	28.09
IOBT	9.08	0.05	0.00	0.39	12.41	(12.05)	13.33	(16.22)	151.49

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