Lithia Motors Correlations

LMO Stock

EUR 356.00 2.00 0.56%

The current 90-days correlation between Lithia Motors and Norsk Hydro ASA is 0.06 (i.e., Significant diversification). The correlation of Lithia Motors 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 Motors Correlation With Market

Average diversification

The correlation between Lithia Motors and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lithia Motors and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Lithia Motors 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 Motors 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 Motors - 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 to buy it.

Moving together with Lithia Stock

0.9	CO6	Copart Inc	Pair Corr
0.85	5Z0	Zhongsheng Group Holdings	Pair Corr
0.77	XA4	CarMax Inc Earnings Call This Week	Pair Corr
0.89	UA9	Penske Automotive	Pair Corr
0.61	RWI	AutoNation	Pair Corr
0.95	AWG	Asbury Automotive	Pair Corr
0.85	KM6	ADHI KARYA	Pair Corr
0.81	TBA	TAMBANG BATUBARA B	Pair Corr

Moving against Lithia Stock

0.9	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.71	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.54	I41	INDIKA ENERGY	Pair Corr
0.52	KM6	ADHI KARYA	Pair Corr
0.51	DBPD	Xtrackers ShortDAX	Pair Corr
0.44	I41	INDIKA ENERGY	Pair Corr
0.35	IJCA	Inchcape plc	Pair Corr

Related Correlations Analysis

	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI
8SP		0.71	-0.48	-0.74	-0.34	0.51	-0.18	-0.71	-0.72	-0.71	8SP
2DG	0.71		-0.58	-0.9	-0.29	0.78	-0.65	-0.93	-0.79	-0.91	2DG
NOH1	-0.48	-0.58		0.64	0.55	-0.38	0.28	0.65	0.46	0.56	NOH1
RS6	-0.74	-0.9	0.64		0.28	-0.78	0.61	0.95	0.75	0.94	RS6
XYTA	-0.34	-0.29	0.55	0.28		0.07	-0.17	0.36	0.29	0.16	XYTA
9K1	0.51	0.78	-0.38	-0.78	0.07		-0.81	-0.81	-0.57	-0.87	9K1
3RKU	-0.18	-0.65	0.28	0.61	-0.17	-0.81		0.63	0.33	0.73	3RKU
VUSA	-0.71	-0.93	0.65	0.95	0.36	-0.81	0.63		0.77	0.93	VUSA
MEL	-0.72	-0.79	0.46	0.75	0.29	-0.57	0.33	0.77		0.79	MEL
HEI	-0.71	-0.91	0.56	0.94	0.16	-0.87	0.73	0.93	0.79		HEI
	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI

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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

VUSA	+ 0.95	RS6
HEI	+ 0.94	RS6
HEI	+ 0.93	VUSA
HEI	+ 0.79	MEL
9K1	+ 0.78	2DG
MEL	+ 0.77	VUSA

High negative correlations

VUSA	- 0.93	2DG
HEI	- 0.91	2DG
RS6	- 0.9	2DG
HEI	- 0.87	9K1
VUSA	- 0.81	9K1
3RKU	- 0.81	9K1

Risk-Adjusted Indicators

There is a big difference between Lithia Stock performing well and Lithia Motors 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 Lithia Motors' 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
8SP	2.10	(0.10)	0.00	(2.54)	0.00	0.00	3.36	(3.96)	20.22
2DG	4.86	(1.33)	0.00	(0.44)	0.00	0.00	9.09	(10.00)	52.42
NOH1	2.05	0.24	0.10	0.48	1.77	(2.73)	6.61	(3.25)	12.96
RS6	1.33	0.25	0.11	1.56	1.16	(1.55)	2.94	(2.03)	13.65
XYTA	11.55	4.13	0.13	(1.74)	8.11	(58.33)	33.33	(20.00)	233.33
9K1	1.64	(0.35)	0.00	3.07	0.00	0.00	2.94	(4.62)	14.80
3RKU	1.55	0.28	0.10	1.12	1.49	(2.09)	3.25	(2.50)	9.52
VUSA	0.55	0.12	0.12	0.25	0.44	(0.61)	1.27	(1.04)	6.02
MEL	1.05	0.11	0.01	0.72	1.15	(1.22)	2.95	(1.78)	7.09
HEI	1.17	0.38	0.31	0.53	0.59	(1.39)	3.29	(1.57)	8.93

Be your own money manager

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