Light Wonder Correlations

LNW Stock

USD 104.85 0.35 0.33%

The current 90-days correlation between Light Wonder and International Game Technology is 0.44 (i.e., Very weak diversification). The correlation of Light Wonder 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.

Light Wonder Correlation With Market

Weak diversification

The correlation between Light Wonder and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Light Wonder 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 Light Wonder. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Light Stock please use our How to Invest in Light Wonder guide.

Moving together with Light Stock

0.66	LTH	Life Time Group	Pair Corr
0.8	MCD	McDonalds	Pair Corr
0.82	HAS	Hasbro Inc	Pair Corr
0.76	MAT	Mattel Inc	Pair Corr
0.61	DNCVF	Defiance Silver Corp	Pair Corr
0.68	TCTZF	Tencent Holdings	Pair Corr
0.63	FWEDF	Fireweed Zinc	Pair Corr
0.75	TRGGF	Tarachi Gold Corp	Pair Corr

Moving against Light Stock

0.91	WWW	Wolverine World Wide	Pair Corr
0.85	PLAY	Dave Busters Enterta	Pair Corr
0.81	CRI	Carters	Pair Corr
0.79	JOUT	Johnson Outdoors	Pair Corr
0.77	KTB	Kontoor Brands	Pair Corr
0.77	NVR	NVR Inc	Pair Corr
0.72	DHI	DR Horton	Pair Corr
0.64	WHR	Whirlpool	Pair Corr
0.61	FUN	Six Flags Entertainment	Pair Corr
0.55	FNKO	Funko Inc	Pair Corr
0.55	ARMK	Aramark Holdings	Pair Corr
0.5	GOLF	Acushnet Holdings Corp	Pair Corr
0.49	COOK	Traeger	Pair Corr
0.47	HD	Home Depot	Pair Corr
0.47	FORD	Forward Industries	Pair Corr
0.4	XPOF	Xponential Fitness	Pair Corr
0.36	PRPL	Purple Innovation	Pair Corr

Related Correlations Analysis

	CDRO	INSE	IGT	ACEL	AGS	EVRI	CHDN
CDRO		0.57	0.36	0.46	0.38	0.62	-0.51	CDRO
INSE	0.57		0.14	0.81	0.61	0.76	-0.12	INSE
IGT	0.36	0.14		0.26	-0.23	0.02	-0.33	IGT
ACEL	0.46	0.81	0.26		0.17	0.38	0.03	ACEL
AGS	0.38	0.61	-0.23	0.17		0.88	-0.44	AGS
EVRI	0.62	0.76	0.02	0.38	0.88		-0.41	EVRI
CHDN	-0.51	-0.12	-0.33	0.03	-0.44	-0.41		CHDN
	CDRO	INSE	IGT	ACEL	AGS	EVRI	CHDN

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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

EVRI	+ 0.88	AGS
ACEL	+ 0.81	INSE
EVRI	+ 0.76	INSE
EVRI	+ 0.62	CDRO
AGS	+ 0.61	INSE
INSE	+ 0.57	CDRO

High negative correlations

CHDN	- 0.51	CDRO
CHDN	- 0.44	AGS
CHDN	- 0.41	EVRI
CHDN	- 0.33	IGT
AGS	- 0.23	IGT
CHDN	- 0.12	INSE

Risk-Adjusted Indicators

There is a big difference between Light Stock performing well and Light Wonder 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 Light Wonder'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
CDRO	2.30	0.04	0.03	0.13	2.78	(2.59)	4.59	(4.55)	20.10
INSE	2.05	0.14	0.03	0.00	3.06	(1.89)	5.02	(6.00)	15.56
IGT	1.30	(0.08)	0.00	(0.22)	0.00	0.00	2.06	(2.32)	6.57
ACEL	1.45	(0.19)	0.00	(0.33)	0.00	0.00	2.90	(3.22)	12.11
AGS	0.24	0.08	0.47	2.20	0.00	(0.31)	0.52	(0.35)	2.38
EVRI	0.15	0.01	0.40	0.15	0.11	(0.18)	0.30	(0.22)	1.32
CHDN	1.05	(0.29)	0.00	0.71	0.00	0.00	1.93	(2.14)	5.06

Light Wonder Corporate Management

Stephen Richardson	Chief VP	Profile
Siobhan Lane	Executive Gaming	Profile
Constance James	CFO, EVP	Profile
Vanja Kalabic	Senior Officer	Profile
CA BEC	Executive Chair	Profile
Steven Stamstad	Senior Communications	Profile

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