Luminar Technologies Correlations

LAZR Stock

USD 6.41 1.94 23.23%

The current 90-days correlation between Luminar Technologies and Hyliion Holdings Corp is 0.24 (i.e., Modest diversification). The correlation of Luminar Technologies 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.

Luminar Technologies Correlation With Market

Average diversification

The correlation between Luminar Technologies and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Luminar Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Luminar Stock, please use our How to Invest in Luminar Technologies guide.

Moving against Luminar Stock

0.37	LI	Li Auto	Pair Corr
0.36	CDROW	Codere Online Luxembourg	Pair Corr
0.32	VIPS	Vipshop Holdings	Pair Corr

Related Correlations Analysis

	MBLY	HYLN	AEVA	INVZ	QS	HSAI	LIDR	KNDI	WPRT
MBLY		0.78	0.73	0.58	0.68	-0.5	0.7	-0.56	-0.03	MBLY
HYLN	0.78		0.77	0.82	0.7	-0.76	0.69	-0.84	-0.09	HYLN
AEVA	0.73	0.77		0.78	0.77	-0.57	0.72	-0.63	0.17	AEVA
INVZ	0.58	0.82	0.78		0.78	-0.63	0.78	-0.74	0.06	INVZ
QS	0.68	0.7	0.77	0.78		-0.55	0.85	-0.56	0.14	QS
HSAI	-0.5	-0.76	-0.57	-0.63	-0.55		-0.52	0.75	0.17	HSAI
LIDR	0.7	0.69	0.72	0.78	0.85	-0.52		-0.59	-0.17	LIDR
KNDI	-0.56	-0.84	-0.63	-0.74	-0.56	0.75	-0.59		0.16	KNDI
WPRT	-0.03	-0.09	0.17	0.06	0.14	0.17	-0.17	0.16		WPRT
	MBLY	HYLN	AEVA	INVZ	QS	HSAI	LIDR	KNDI	WPRT

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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

LIDR	+ 0.85	QS
INVZ	+ 0.82	HYLN
HYLN	+ 0.78	MBLY
INVZ	+ 0.78	AEVA
QS	+ 0.78	INVZ
LIDR	+ 0.78	INVZ

High negative correlations

KNDI	- 0.84	HYLN
HSAI	- 0.76	HYLN
KNDI	- 0.74	INVZ
HSAI	- 0.63	INVZ
KNDI	- 0.63	AEVA
KNDI	- 0.59	LIDR

Risk-Adjusted Indicators

There is a big difference between Luminar Stock performing well and Luminar Technologies 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 Luminar Technologies' 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
MBLY	3.29	(0.16)	0.00	(0.13)	0.00	0.00	5.20	(8.31)	21.69
HYLN	3.45	(0.69)	0.00	(0.35)	0.00	0.00	7.54	(7.05)	21.35
AEVA	4.08	0.45	0.08	0.12	4.44	(5.00)	8.46	(6.98)	34.73
INVZ	6.75	(0.30)	0.00	(0.21)	0.00	0.00	14.37	(12.12)	58.83
QS	3.39	(0.03)	0.00	(0.49)	0.00	0.00	7.04	(6.89)	23.51
HSAI	7.10	1.33	0.20	(0.60)	6.35	(8.91)	16.71	(10.38)	59.23
LIDR	8.40	(0.12)	0.00	0.39	0.00	0.00	14.78	(17.16)	92.02
KNDI	4.36	0.78	0.17	2.13	4.12	(5.41)	9.72	(6.52)	37.85
WPRT	2.75	0.15	0.04	0.07	3.08	(2.94)	7.26	(4.67)	18.05

Luminar Technologies Corporate Management

Anders GrunnetJepsen	Head Development	Profile
Austin Russell	Chairperson, Founder	Profile
John Pinette	Senior Communications	Profile
Alex Vitale	Head Strategy	Profile
Sameer Ladiwala	Chief Officer	Profile
Taner Ozcelik	Executive Manager	Profile
Emily Shanklin	Senior Marketing	Profile

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