Foremost Lithium Correlations

FMSTW Stock

0.32 0.08 33.33%

The current 90-days correlation between Foremost Lithium Resource and SFL Corporation is -0.09 (i.e., Good diversification). The correlation of Foremost 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Foremost Lithium Correlation With Market

Good diversification

The correlation between Foremost Lithium Resource and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foremost Lithium Resource 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 Foremost Lithium Resource. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Foremost Stock

0.61

BYU

BAIYU Holdings

Pair Corr

Moving against Foremost Stock

0.56	CMP	Compass Minerals Int	Pair Corr
0.55	NVA	Nova Minerals Limited	Pair Corr
0.49	LAC	Lithium Americas Corp	Pair Corr
0.49	SKE	Skeena Resources	Pair Corr
0.48	MP	MP Materials Corp	Pair Corr
0.48	EMX	EMX Royalty Corp	Pair Corr
0.47	PLL	Piedmont Lithium	Pair Corr
0.47	SLI	Standard Lithium	Pair Corr
0.46	LZM	Lifezone Metals	Pair Corr
0.45	LGO	Largo Resources	Pair Corr
0.45	WWR	Westwater Resources	Pair Corr
0.42	IPX	IperionX Limited American	Pair Corr
0.42	NAK	Northern Dynasty Minerals	Pair Corr
0.36	FURY	Fury Gold Mines	Pair Corr
0.58	NEXA	Nexa Resources SA	Pair Corr
0.58	SGML	Sigma Lithium Resources	Pair Corr
0.53	LAAC	Lithium Americas Corp	Pair Corr
0.45	IONR	ioneer American	Pair Corr
0.45	AMLI	American Lithium Corp	Pair Corr
0.44	JAPSY	Japan Airlines	Pair Corr
0.36	NVAWW	Nova Minerals Limited	Pair Corr
0.36	USGOW	US GoldMining Warrant	Pair Corr

Related Correlations Analysis

	SFL	SAND	PPYAU	LUV	VLRS	ATSG	EGO	GFF
SFL		0.23	0.2	-0.52	-0.78	-0.76	0.56	-0.27	SFL
SAND	0.23		-0.36	-0.35	-0.02	-0.24	0.71	-0.24	SAND
PPYAU	0.2	-0.36		0.09	-0.21	0.15	-0.2	0.15	PPYAU
LUV	-0.52	-0.35	0.09		0.77	0.77	-0.54	0.63	LUV
VLRS	-0.78	-0.02	-0.21	0.77		0.84	-0.38	0.56	VLRS
ATSG	-0.76	-0.24	0.15	0.77	0.84		-0.64	0.63	ATSG
EGO	0.56	0.71	-0.2	-0.54	-0.38	-0.64		-0.42	EGO
GFF	-0.27	-0.24	0.15	0.63	0.56	0.63	-0.42		GFF
	SFL	SAND	PPYAU	LUV	VLRS	ATSG	EGO	GFF

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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

ATSG	+ 0.84	VLRS
VLRS	+ 0.77	LUV
ATSG	+ 0.77	LUV
EGO	+ 0.71	SAND
GFF	+ 0.63	LUV
GFF	+ 0.63	ATSG

High negative correlations

VLRS	- 0.78	SFL
ATSG	- 0.76	SFL
EGO	- 0.64	ATSG
EGO	- 0.54	LUV
LUV	- 0.52	SFL
GFF	- 0.42	EGO

Risk-Adjusted Indicators

There is a big difference between Foremost Stock performing well and Foremost 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 Foremost 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
SFL	1.13	(0.11)	0.00	5.25	0.00	0.00	2.23	(2.52)	4.87
SAND	1.70	0.04	(0.02)	0.28	2.39	(1.77)	3.33	(2.56)	15.60
PPYAU	0.23	(0.08)	0.00	(0.42)	0.00	0.00	0.00	0.00	5.02
LUV	1.33	0.10	0.03	0.27	1.71	(1.27)	2.96	(2.65)	10.99
VLRS	1.68	0.48	0.18	(1.77)	1.42	(1.96)	4.72	(2.63)	10.38
ATSG	1.93	0.42	0.16	0.72	1.82	(2.37)	3.70	(3.09)	26.66
EGO	1.92	(0.18)	0.00	(0.55)	0.00	0.00	3.39	(5.22)	12.12
GFF	1.74	0.20	0.14	0.24	1.74	(1.99)	3.14	(3.11)	22.84

Foremost Lithium Corporate Executives

Elected by the shareholders, the Foremost Lithium's board of directors comprises two types of representatives: Foremost Lithium inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Foremost. The board's role is to monitor Foremost Lithium's management team and ensure that shareholders' interests are well served. Foremost Lithium's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Foremost Lithium's outside directors are responsible for providing unbiased perspectives on the board's policies.

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