Lithium Americas Correlations

Stocks . Canada . 
Stock . Lithium Americas Corp
LAAC Stock   4.01  0.17  4.43%   
The current 90-days correlation between Lithium Americas Corp and Skeena Resources is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Lithium Americas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Lithium Americas Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Lithium Americas Correlation With Market

Good diversification

The correlation between Lithium Americas Corp and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lithium Americas Corp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Lithium Americas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lithium Americas 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 Lithium Americas - 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 Lithium Americas Corp to buy it.

Moving together with Lithium Stock

  0.66FIL Filo Mining CorpPairCorr
  0.82SGML Sigma Lithium ResourcesPairCorr
  0.71FOM Foran MiningPairCorr
  0.74BDT Bird ConstructionPairCorr
  0.61QTWO Q2 Metals CorpPairCorr

Moving against Lithium Stock

  0.47OM Osisko MetalsPairCorr
  0.47NEXT NextSource MaterialsPairCorr
  0.45QNC Quantum NumbersPairCorr
  0.38SRES Sun Residential RealPairCorr
  0.35ENB-PH Enbridge H CumPairCorr
  0.32FC Firm Capital MortgagePairCorr
  0.32NICU Magna MiningPairCorr
  0.46ERE-UN European Residential RealPairCorr
  0.45WI Western InvestmentPairCorr
  0.41NOA North American ConstPairCorr
  0.4AQN-PD Algonquin Power UtilitiesPairCorr
  0.31VLE Valeura EnergyPairCorr

Related Correlations Analysis

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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   
IVN
+ 0.84
TECK-B
FIL
+ 0.71
TECK-B
CXB
+ 0.71
TECK-B
CXB
+ 0.71
IVN
FIL
+ 0.69
IVN
SGML
+ 0.65
FIL
  
High negative correlations   
SKE
- 0.26
TECK-B
SKE
- 0.08
IVN

Risk-Adjusted Indicators

There is a big difference between Lithium Stock performing well and Lithium Americas 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 Lithium Americas' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Lithium Americas 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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Lithium Americas Corporate Management

Elected by the shareholders, the Lithium Americas' board of directors comprises two types of representatives: Lithium Americas inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Lithium. The board's role is to monitor Lithium Americas' management team and ensure that shareholders' interests are well served. Lithium Americas' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Lithium Americas' outside directors are responsible for providing unbiased perspectives on the board's policies.
Jos AggioVP OfficerProfile
Kelly OBrienVP ESGProfile
Aubree PHRVice ResourcesProfile
Virginia MorganVice ESGProfile
Dennis PESenior DevelopmentProfile
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