Lithia Correlations

Summary

536797AE3

97.38 0.57 0.59%

The current 90-days correlation between Lithia Motors 4625 and Enel Chile SA is -0.1 (i.e., Good diversification). The correlation of Lithia 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.

Lithia Correlation With Market

Significant diversification

The correlation between Lithia Motors 4625 and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lithia Motors 4625 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Lithia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lithia 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 Lithia - 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 Lithia Motors 4625 to buy it.

Moving against Lithia Bond

0.52	ASCUF	Arizona Sonoran Copper	Pair Corr
0.48	GLTR	abrdn Physical Precious	Pair Corr
0.38	SGU	Star Gas Partners	Pair Corr
0.38	FI	Fiserv,	Pair Corr
0.37	NOK	Nokia Corp ADR	Pair Corr
0.34	VXUS	Vanguard Total Inter	Pair Corr
0.32	AVNM	American Century ETF	Pair Corr
0.56	INIVX	International Investors	Pair Corr
0.5	EKWAX	Wells Fargo Advantage	Pair Corr
0.45	ITA	iShares Aerospace Defense	Pair Corr
0.45	STEW	SRH Total Return	Pair Corr
0.37	FUEMX	Fidelity Flex Servative	Pair Corr
0.36	SPE	Special Opportunities	Pair Corr
0.33	VEA	Vanguard FTSE Developed	Pair Corr
0.31	DSCF	Discipline Fund ETF	Pair Corr
0.31	YDEC	First Trust Exchange	Pair Corr
0.31	RILEX	American Funds Inflation	Pair Corr

Related Correlations Analysis

	ENIC	MO	CMS-PB	KDP	LNT	SPH	POR	MSEX
ENIC		0.75	0.63	0.68	0.87	0.81	0.63	0.56	ENIC
MO	0.75		0.78	0.82	0.85	0.48	0.84	0.92	MO
CMS-PB	0.63	0.78		0.71	0.76	0.45	0.65	0.7	CMS-PB
KDP	0.68	0.82	0.71		0.84	0.46	0.8	0.77	KDP
LNT	0.87	0.85	0.76	0.84		0.66	0.85	0.71	LNT
SPH	0.81	0.48	0.45	0.46	0.66		0.27	0.29	SPH
POR	0.63	0.84	0.65	0.8	0.85	0.27		0.76	POR
MSEX	0.56	0.92	0.7	0.77	0.71	0.29	0.76		MSEX
	ENIC	MO	CMS-PB	KDP	LNT	SPH	POR	MSEX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Lithia Bond performing well and Lithia Corporate Bond 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 Lithia'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
ENIC	1.34	0.24	0.12	0.19	2.11	(1.37)	2.42	(2.62)	8.01
MO	1.08	0.16	0.21	1.13	1.19	(1.08)	2.24	(2.05)	6.06
CMS-PB	0.95	0.08	0.18	(1.57)	1.10	(1.14)	2.22	(2.66)	8.23
KDP	1.09	0.16	0.23	(1.79)	1.32	(1.15)	2.20	(2.36)	6.16
LNT	0.93	0.13	0.13	0.15	1.60	(0.86)	1.93	(2.63)	5.88
SPH	1.36	0.38	0.20	0.40	1.93	(1.39)	2.61	(2.48)	10.08
POR	1.04	0.05	0.00	(0.03)	0.00	0.00	1.77	(1.98)	5.41
MSEX	1.75	0.29	0.23	(3.20)	1.71	(1.94)	4.23	(3.06)	19.17

Be your own money manager

Our tools can tell you how much better you can do entering a position in Lithia 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.

Did you try this?

Run Price Transformation Now

Price Transformation

Use Price Transformation models to analyze the depth of different equity instruments across global markets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC