Luna Innovations Correlations

LUNA Stock

USD 1.50 0.05 3.45%

The current 90-days correlation between Luna Innovations and Sarine Technologies is -0.02 (i.e., Good diversification). The correlation of Luna Innovations 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.

Luna Innovations Correlation With Market

Very good diversification

The correlation between Luna Innovations Incorporated and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Luna Innovations Incorporated and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Luna Innovations could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Luna Innovations 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 Luna Innovations - 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 Luna Innovations Incorporated to buy it.

Moving against Luna Pink Sheet

0.64	LRDC	Laredo Oil	Pair Corr
0.61	TORO	Toro	Pair Corr
0.57	ONON	On Holding	Pair Corr
0.47	GS	Goldman Sachs Group	Pair Corr
0.37	USPH	US Physicalrapy	Pair Corr
0.35	EXAS	EXACT Sciences	Pair Corr
0.52	GAYMF	Galway Metals	Pair Corr
0.5	FRFFF	Fairfax Financial	Pair Corr
0.42	UMAC	Unusual Machines	Pair Corr
0.36	BAM	Brookfield Asset Man Normal Trading	Pair Corr

Related Correlations Analysis

	ACFN	WSTL	SILLF	NYWKF	VSQTF	AILE	RAASY	MHUBF	KDCXF	AVAI
ACFN		0.52	-0.75	-0.11	-0.4	0.0	0.7	-0.39	0.61	0.72	ACFN
WSTL	0.52		-0.6	-0.37	-0.62	0.0	0.6	-0.45	0.62	0.43	WSTL
SILLF	-0.75	-0.6		0.49	0.4	0.0	-0.66	0.33	-0.43	-0.8	SILLF
NYWKF	-0.11	-0.37	0.49		0.35	0.0	-0.25	0.18	-0.09	-0.26	NYWKF
VSQTF	-0.4	-0.62	0.4	0.35		0.0	-0.68	0.54	-0.75	-0.34	VSQTF
AILE	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AILE
RAASY	0.7	0.6	-0.66	-0.25	-0.68	0.0		-0.67	0.83	0.59	RAASY
MHUBF	-0.39	-0.45	0.33	0.18	0.54	0.0	-0.67		-0.76	-0.34	MHUBF
KDCXF	0.61	0.62	-0.43	-0.09	-0.75	0.0	0.83	-0.76		0.41	KDCXF
AVAI	0.72	0.43	-0.8	-0.26	-0.34	0.0	0.59	-0.34	0.41		AVAI
	ACFN	WSTL	SILLF	NYWKF	VSQTF	AILE	RAASY	MHUBF	KDCXF	AVAI

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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

KDCXF	+ 0.83	RAASY
AVAI	+ 0.72	ACFN
RAASY	+ 0.7	ACFN
KDCXF	+ 0.62	WSTL
KDCXF	+ 0.61	ACFN
RAASY	+ 0.6	WSTL

High negative correlations

AVAI	- 0.8	SILLF
KDCXF	- 0.76	MHUBF
KDCXF	- 0.75	VSQTF
SILLF	- 0.75	ACFN
RAASY	- 0.68	VSQTF
MHUBF	- 0.67	RAASY

Risk-Adjusted Indicators

There is a big difference between Luna Pink Sheet performing well and Luna Innovations 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 Luna Innovations' 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
ACFN	4.22	0.27	0.07	0.22	4.15	(5.33)	10.47	(7.77)	36.63
WSTL	2.54	0.15	0.03	7.02	3.17	(2.70)	5.04	(6.56)	19.53
SILLF	2.61	0.51	0.00	(0.35)	0.00	0.00	0.00	0.00	57.64
NYWKF	3.03	(0.43)	0.00	(0.25)	0.00	0.00	7.32	(6.90)	18.91
VSQTF	3.93	(0.48)	0.00	(0.24)	0.00	0.00	8.00	(6.90)	33.53
AILE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RAASY	4.07	1.02	0.13	(0.87)	3.80	(6.79)	10.53	(8.89)	41.52
MHUBF	3.67	(0.18)	0.00	(0.28)	0.00	0.00	8.47	(9.23)	23.30
KDCXF	1.09	0.55	0.00	22.82	0.00	0.00	0.00	0.00	30.43
AVAI	5.59	0.43	0.07	0.33	5.33	(8.56)	13.11	(9.68)	43.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Luna Innovations 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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Luna Innovations Corporate Management

Eva Hartmann	Senior Resources	Profile
Salvan Farooqui	VP Marketing	Profile
George GomezQuintero	Chief Officer	Profile
Allison Woody	Senior Administration	Profile

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