Lite Strategy Correlations

LITS Stock

1.13 0.01 0.88%

The current 90-days correlation between Lite Strategy and Tscan Therapeutics is 0.39 (i.e., Weak 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 -0.76 (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 population.

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

Moving together with Lite Stock

0.78	OSE	OSE Pharma SA	Pair Corr
0.73	RAC	Race Oncology	Pair Corr
0.9	VCYT	Veracyte	Pair Corr
0.82	DRMA	Dermata Therapeutics	Pair Corr
0.88	DTIL	Precision BioSciences	Pair Corr
0.71	BIM	Biomerieux SA	Pair Corr

Moving against Lite Stock

0.79	EQ	Equillium	Pair Corr
0.69	GXEA	Galapagos NV	Pair Corr
0.62	DNTH	Dianthus Therapeutics	Pair Corr
0.57	8VP1	AVRICORE HEALTH INC	Pair Corr
0.56	CMB	Cambium Bio	Pair Corr
0.52	VALN	Valneva SE ADR	Pair Corr
0.43	DNLI	Denali Therapeutics Earnings Call Tomorrow	Pair Corr
0.4	2CG	NANOSPHERE HEASCIENCES	Pair Corr
0.85	0P6S	Bayer AG NA Earnings Call This Week	Pair Corr
0.82	DRTS	Alpha Tau Medical Earnings Call This Week	Pair Corr
0.78	6C1	CytomX Therapeutics Earnings Call This Week	Pair Corr
0.68	DSGN	Design Therapeutics	Pair Corr
0.63	PYC	Physiomics Plc Earnings Call This Week	Pair Corr
0.41	AVH	Avita Medical	Pair Corr
0.77	DVAX	Dynavax Technologies	Pair Corr
0.68	VINC	Vincerx Pharma Common	Pair Corr
0.66	SRZNW	Surrozen Warrant	Pair Corr
0.59	ALA	Arovella Therapeutics	Pair Corr
0.57	VNDA	Vanda Pharmaceuticals Trending	Pair Corr
0.51	NANO	Nanobiotix SA	Pair Corr

Related Correlations Analysis

	TCRX	ACET	IMUX	PMVP	RLMD	NTRB	ACRV	HOWL	XBIT	IOBT
TCRX		0.27	0.04	0.07	-0.02	0.05	0.0	-0.26	0.51	-0.1	TCRX
ACET	0.27		-0.35	0.51	0.27	0.59	0.61	0.46	0.12	0.58	ACET
IMUX	0.04	-0.35		-0.01	-0.04	-0.42	-0.57	-0.1	-0.36	-0.43	IMUX
PMVP	0.07	0.51	-0.01		0.59	0.38	0.45	0.32	-0.14	0.52	PMVP
RLMD	-0.02	0.27	-0.04	0.59		0.24	0.42	0.18	-0.23	0.52	RLMD
NTRB	0.05	0.59	-0.42	0.38	0.24		0.6	0.53	0.11	0.52	NTRB
ACRV	0.0	0.61	-0.57	0.45	0.42	0.6		0.54	0.13	0.82	ACRV
HOWL	-0.26	0.46	-0.1	0.32	0.18	0.53	0.54		-0.14	0.63	HOWL
XBIT	0.51	0.12	-0.36	-0.14	-0.23	0.11	0.13	-0.14		-0.06	XBIT
IOBT	-0.1	0.58	-0.43	0.52	0.52	0.52	0.82	0.63	-0.06		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

IOBT	+ 0.82	ACRV
IOBT	+ 0.63	HOWL
ACRV	+ 0.61	ACET
ACRV	+ 0.6	NTRB
NTRB	+ 0.59	ACET
RLMD	+ 0.59	PMVP

High negative correlations

ACRV	- 0.57	IMUX
IOBT	- 0.43	IMUX
NTRB	- 0.42	IMUX
XBIT	- 0.36	IMUX
IMUX	- 0.35	ACET
HOWL	- 0.26	TCRX

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	3.35	0.00	0.04	0.08	3.32	(4.86)	9.62	(5.61)	21.37
ACET	3.30	(0.45)	0.00	(0.28)	0.00	0.00	6.20	(6.06)	21.12
IMUX	4.22	0.71	0.14	2.98	3.92	(5.54)	11.36	(7.14)	25.01
PMVP	3.27	0.51	0.13	(2.95)	2.75	(5.00)	7.55	(4.63)	17.05
RLMD	3.88	0.16	0.03	0.36	4.08	(4.96)	7.78	(8.60)	18.53
NTRB	3.24	0.02	0.00	0.04	0.00	0.00	5.97	(6.48)	32.02
ACRV	4.68	(0.46)	0.00	(0.25)	0.00	0.00	7.65	(9.09)	66.02
HOWL	4.61	(0.35)	0.00	(0.31)	0.00	0.00	9.09	(7.14)	51.90
XBIT	2.46	(0.07)	(0.02)	0.02	2.56	(3.05)	5.58	(3.83)	17.52
IOBT	8.11	0.16	0.01	(5.62)	11.83	(10.88)	9.84	(14.71)	151.49

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