Lumentum Holdings Correlations

LITE Stock

USD 92.75 1.51 1.65%

The current 90-days correlation between Lumentum Holdings and Weibo Corp is 0.51 (i.e., Very weak diversification). The correlation of Lumentum Holdings 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.

Lumentum Holdings Correlation With Market

Poor diversification

The correlation between Lumentum Holdings and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lumentum Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Lumentum Stock

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

For information on how to trade Lumentum Stock refer to our How to Trade Lumentum Stock guide.

Moving together with Lumentum Stock

0.98	CSCO	Cisco Systems	Pair Corr
0.97	IBM	International Business	Pair Corr
0.66	BFDE	Bedford Energy	Pair Corr
0.71	CIO-PA	City Office REIT	Pair Corr
0.96	MSFT	Microsoft	Pair Corr
0.87	BA	Boeing Aggressive Push	Pair Corr
0.97	CAT	Caterpillar Sell-off Trend	Pair Corr
0.97	DIS	Walt Disney	Pair Corr
0.96	JPM	JPMorgan Chase	Pair Corr
0.97	BAC	Bank of America Aggressive Push	Pair Corr
0.81	AA	Alcoa Corp	Pair Corr
0.75	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.83	MMM	3M Company	Pair Corr

Moving against Lumentum Stock

0.57

MCD

McDonalds Sell-off Trend

Pair Corr

Related Correlations Analysis

	WB	GGB	SECVY	NX	TX	GFL	KALU	QTWO
WB		0.87	0.82	0.67	0.84	0.58	0.92	0.86	WB
GGB	0.87		0.62	0.77	0.81	0.43	0.81	0.77	GGB
SECVY	0.82	0.62		0.54	0.7	0.55	0.87	0.87	SECVY
NX	0.67	0.77	0.54		0.7	0.24	0.68	0.68	NX
TX	0.84	0.81	0.7	0.7		0.6	0.85	0.81	TX
GFL	0.58	0.43	0.55	0.24	0.6		0.64	0.59	GFL
KALU	0.92	0.81	0.87	0.68	0.85	0.64		0.92	KALU
QTWO	0.86	0.77	0.87	0.68	0.81	0.59	0.92		QTWO
	WB	GGB	SECVY	NX	TX	GFL	KALU	QTWO

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Risk-Adjusted Indicators

There is a big difference between Lumentum Stock performing well and Lumentum Holdings 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 Lumentum Holdings' 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
WB	1.78	0.11	0.05	0.21	1.95	(2.16)	4.28	(3.12)	13.41
GGB	2.24	0.08	0.03	0.18	2.67	(2.59)	4.96	(4.31)	14.01
SECVY	0.90	0.45	0.00	(7.31)	0.00	0.00	0.00	0.00	30.09
NX	3.04	0.07	0.04	0.15	3.15	(3.94)	9.09	(4.67)	18.08
TX	1.84	0.07	0.02	0.18	2.31	(2.01)	4.99	(5.03)	9.86
GFL	1.33	(0.07)	(0.05)	0.02	1.78	(1.48)	2.40	(2.20)	12.75
KALU	2.08	0.43	0.18	0.41	2.07	(2.47)	5.95	(2.62)	13.81
QTWO	2.05	0.14	0.07	0.19	2.29	(2.39)	3.71	(3.58)	16.67

Lumentum Holdings Corporate Management

Jae Esq	General VP	Profile
Misha Rozenberg	Executive Officer	Profile
Vincent Retort	Executive Development	Profile
Andrea Milani	VP Sales	Profile
Matthew Sepe	Chief Accounting Officer	Profile
Ralph Loura	VP Officer	Profile
Caroline Pan	Senior Officer	Profile

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