Critical Metals Correlations

CRML Stock

1.91 0.20 9.48%

The current 90-days correlation between Critical Metals Corp and PetMed Express is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Critical Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Critical Metals Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Critical Metals Correlation With Market

Significant diversification

The correlation between Critical Metals Corp and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Critical Metals Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Critical Metals Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Critical Stock

0.63

LZM

Lifezone Metals

Pair Corr

Moving against Critical Stock

0.6	TMQ	Trilogy Metals	Pair Corr
0.52	VALE	Vale SA ADR	Pair Corr
0.51	TMC	TMC the metals	Pair Corr
0.49	EMX	EMX Royalty Corp	Pair Corr
0.42	MP	MP Materials Corp	Pair Corr
0.36	NB	NioCorp Developments	Pair Corr
0.35	SKE	Skeena Resources	Pair Corr
0.77	NIOBW	NioCorp Developments	Pair Corr
0.68	CX	Cemex SAB de	Pair Corr
0.56	TMCWW	TMC the metals	Pair Corr
0.51	XPL	Solitario Exploration	Pair Corr
0.45	AU	AngloGold Ashanti plc	Pair Corr
0.4	USGO	US GoldMining Common	Pair Corr

Related Correlations Analysis

	PETS	AVNT	LAC	JELD	HMY	SE	HDSN	CDW
PETS		0.27	0.24	0.52	-0.29	-0.36	-0.14	-0.13	PETS
AVNT	0.27		0.75	0.66	-0.1	0.06	0.36	-0.2	AVNT
LAC	0.24	0.75		0.74	-0.39	-0.37	0.49	-0.29	LAC
JELD	0.52	0.66	0.74		-0.26	-0.37	0.17	-0.11	JELD
HMY	-0.29	-0.1	-0.39	-0.26		0.84	0.16	0.85	HMY
SE	-0.36	0.06	-0.37	-0.37	0.84		0.16	0.57	SE
HDSN	-0.14	0.36	0.49	0.17	0.16	0.16		0.23	HDSN
CDW	-0.13	-0.2	-0.29	-0.11	0.85	0.57	0.23		CDW
	PETS	AVNT	LAC	JELD	HMY	SE	HDSN	CDW

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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

CDW	+ 0.85	HMY
SE	+ 0.84	HMY
LAC	+ 0.75	AVNT
JELD	+ 0.74	LAC
JELD	+ 0.66	AVNT
CDW	+ 0.57	SE

High negative correlations

HMY	- 0.39	LAC
SE	- 0.37	JELD
SE	- 0.37	LAC
SE	- 0.36	PETS
CDW	- 0.29	LAC
HMY	- 0.29	PETS

Risk-Adjusted Indicators

There is a big difference between Critical Stock performing well and Critical Metals 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 Critical Metals' 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
PETS	3.43	0.05	0.01	0.03	4.27	(3.81)	8.62	(5.47)	28.82
AVNT	1.30	(0.23)	0.00	(0.24)	0.00	0.00	2.84	(2.22)	9.91
LAC	2.52	(0.51)	0.00	(0.42)	0.00	0.00	4.48	(5.41)	15.88
JELD	2.79	(0.86)	0.00	(0.94)	0.00	0.00	4.69	(6.28)	33.01
HMY	2.28	0.10	0.04	0.17	2.91	(2.31)	4.92	(4.47)	13.80
SE	1.59	0.16	0.09	0.28	1.71	(1.74)	3.51	(2.83)	8.56
HDSN	1.46	(0.05)	0.00	(0.13)	0.00	0.00	3.37	(2.65)	8.10
CDW	1.14	0.03	0.02	0.02	1.57	(1.07)	2.67	(2.92)	7.33

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