CleanTech Lithium Correlations

CTL Stock

10.75 1.25 10.42%

The current 90-days correlation between CleanTech Lithium plc and Norman Broadbent Plc is -0.09 (i.e., Good diversification). The correlation of CleanTech Lithium 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.

CleanTech Lithium Correlation With Market

Significant diversification

The correlation between CleanTech Lithium plc and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CleanTech Lithium plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CleanTech Lithium could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CleanTech Lithium 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 CleanTech Lithium - 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 CleanTech Lithium plc to buy it.

Moving against CleanTech Stock

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0.75	AAZ	Anglo Asian Mining	Pair Corr
0.74	SFT	Software Circle plc	Pair Corr
0.7	0QKN	Chocoladefabriken Lindt Earnings Call This Week	Pair Corr
0.7	BANK	Fiinu PLC	Pair Corr
0.69	0QP1	Chocoladefabriken Lindt Earnings Call This Week	Pair Corr
0.62	ATYM	Atalaya Mining	Pair Corr
0.61	AMRQ	Amaroq Minerals	Pair Corr
0.54	ANTO	Antofagasta PLC	Pair Corr
0.49	MTL	Metals Exploration Plc	Pair Corr
0.33	0R15	SoftBank Group Corp	Pair Corr

Related Correlations Analysis

	NBB	IPX	0R8Q	JADE	LIO	0JZZ	SYNT	DFS
NBB		0.84	0.13	-0.75	0.28	-0.32	0.69	0.23	NBB
IPX	0.84		0.39	-0.81	0.5	-0.41	0.8	0.18	IPX
0R8Q	0.13	0.39		-0.2	0.46	-0.49	0.23	0.07	0R8Q
JADE	-0.75	-0.81	-0.2		-0.17	0.54	-0.7	0.1	JADE
LIO	0.28	0.5	0.46	-0.17		-0.23	0.68	0.34	LIO
0JZZ	-0.32	-0.41	-0.49	0.54	-0.23		-0.48	-0.15	0JZZ
SYNT	0.69	0.8	0.23	-0.7	0.68	-0.48		0.15	SYNT
DFS	0.23	0.18	0.07	0.1	0.34	-0.15	0.15		DFS
	NBB	IPX	0R8Q	JADE	LIO	0JZZ	SYNT	DFS

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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

IPX	+ 0.84	NBB
SYNT	+ 0.8	IPX
SYNT	+ 0.69	NBB
SYNT	+ 0.68	LIO
0JZZ	+ 0.54	JADE
LIO	+ 0.5	IPX

High negative correlations

JADE	- 0.81	IPX
JADE	- 0.75	NBB
SYNT	- 0.7	JADE
0JZZ	- 0.49	0R8Q
SYNT	- 0.48	0JZZ
0JZZ	- 0.41	IPX

Risk-Adjusted Indicators

There is a big difference between CleanTech Stock performing well and CleanTech Lithium 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 CleanTech Lithium'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
NBB	2.57	(0.68)	0.00	(0.72)	0.00	0.00	8.33	(13.33)	27.88
IPX	1.96	(0.71)	0.00	(1.19)	0.00	0.00	2.84	(4.24)	26.94
0R8Q	1.38	0.06	0.02	0.09	2.84	(1.37)	2.93	(2.28)	17.04
JADE	2.46	0.88	0.00	(1.13)	0.00	0.00	8.33	(5.26)	25.26
LIO	1.56	0.00	0.00	(0.01)	2.25	(1.56)	3.58	(3.83)	10.52
0JZZ	2.08	0.21	0.08	(3.32)	2.22	(2.58)	6.17	(4.34)	13.95
SYNT	2.34	(0.27)	0.00	(0.36)	0.00	0.00	5.61	(4.98)	12.60
DFS	1.48	0.08	0.04	0.96	1.66	(1.83)	3.29	(2.88)	9.45

Be your own money manager

Our tools can tell you how much better you can do entering a position in CleanTech Lithium 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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