Electra Battery Correlations

ELBM Stock

USD 1.10 0.03 2.65%

The current 90-days correlation between Electra Battery Materials and Bradda Head Lithium is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Electra Battery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Electra Battery Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Electra Battery Correlation With Market

Very good diversification

The correlation between Electra Battery Materials and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electra Battery Materials and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Electra Battery Materials. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Electra Stock

0.73

IPX

IperionX Limited American

Pair Corr

Moving against Electra Stock

0.58	RIO	Rio Tinto ADR	Pair Corr
0.55	TMQ	Trilogy Metals Earnings Call This Week	Pair Corr
0.54	VZLA	Vizsla Resources Corp	Pair Corr
0.5	MP	MP Materials Corp	Pair Corr
0.5	VALE	Vale SA ADR	Pair Corr
0.5	NAK	Northern Dynasty Minerals Earnings Call This Week	Pair Corr
0.33	EMX	EMX Royalty Corp	Pair Corr
0.32	FURY	Fury Gold Mines	Pair Corr
0.6	NC	NACCO Industries	Pair Corr
0.59	AG	First Majestic Silver	Pair Corr
0.55	AU	AngloGold Ashanti plc	Pair Corr
0.53	USAS	Americas Silver Corp Earnings Call Today	Pair Corr
0.53	X	United States Steel Buyout Trend	Pair Corr
0.44	MT	ArcelorMittal SA ADR	Pair Corr
0.43	NIOBW	NioCorp Developments	Pair Corr
0.35	HL	Hecla Mining	Pair Corr

Related Correlations Analysis

	CBBHF	BHLIF	GSCCF	TELHF	CYDVF	FPOCF	LITOF	HNCKF	SXOOF
CBBHF		-0.21	0.35	0.15	0.52	-0.02	-0.27	0.0	0.19	CBBHF
BHLIF	-0.21		0.0	0.04	0.07	0.01	-0.36	0.0	-0.54	BHLIF
GSCCF	0.35	0.0		0.11	0.31	-0.2	-0.4	0.0	0.08	GSCCF
TELHF	0.15	0.04	0.11		0.18	-0.19	-0.25	0.0	-0.01	TELHF
CYDVF	0.52	0.07	0.31	0.18		-0.24	-0.24	0.0	0.4	CYDVF
FPOCF	-0.02	0.01	-0.2	-0.19	-0.24		0.39	0.0	0.04	FPOCF
LITOF	-0.27	-0.36	-0.4	-0.25	-0.24	0.39		0.0	0.39	LITOF
HNCKF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HNCKF
SXOOF	0.19	-0.54	0.08	-0.01	0.4	0.04	0.39	0.0		SXOOF
	CBBHF	BHLIF	GSCCF	TELHF	CYDVF	FPOCF	LITOF	HNCKF	SXOOF

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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

CYDVF	+ 0.52	CBBHF
SXOOF	+ 0.4	CYDVF
LITOF	+ 0.39	FPOCF
SXOOF	+ 0.39	LITOF
GSCCF	+ 0.35	CBBHF
CYDVF	+ 0.31	GSCCF

High negative correlations

SXOOF	- 0.54	BHLIF
LITOF	- 0.4	GSCCF
LITOF	- 0.36	BHLIF
LITOF	- 0.27	CBBHF
LITOF	- 0.25	TELHF
LITOF	- 0.24	CYDVF

Risk-Adjusted Indicators

There is a big difference between Electra Stock performing well and Electra Battery 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 Electra Battery'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
CBBHF	7.25	0.28	0.02	0.43	9.04	(14.36)	27.62	(20.29)	70.00
BHLIF	3.49	(0.34)	0.00	(0.44)	0.00	0.00	7.69	(15.38)	66.88
GSCCF	6.46	0.14	0.01	0.07	7.65	(9.85)	17.65	(16.70)	49.16
TELHF	12.99	1.11	0.07	0.39	14.20	(15.39)	34.04	(26.67)	83.86
CYDVF	4.14	0.34	0.03	0.40	5.61	(8.89)	11.11	(5.88)	55.11
FPOCF	2.72	0.07	0.01	0.11	3.30	(6.07)	6.25	(5.88)	17.36
LITOF	3.77	0.71	0.13	(0.95)	3.72	(5.50)	10.34	(7.69)	21.15
HNCKF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SXOOF	6.53	1.08	0.17	0.47	5.46	(9.35)	20.93	(8.16)	47.85

Electra Battery Corporate Management

BCL LLB	CEO Pres	Profile
Frank PGeo	VP Exploration	Profile
Henrik Fisker	Special Advisor	Profile
Craig Cunningham	Chief Officer	Profile
Peter Campbell	VP Devel	Profile
Marty CFA	Chief Officer	Profile
Joseph Racanelli	VP Relations	Profile

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