| LAC Stock | | | CAD 5.61 0.09 1.63% |
The current 90-days correlation between Lithium Americas Corp and Ballard Power Systems is 0.3 (i.e., Weak 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
Moving against Lithium Stock
Related Correlations Analysis
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 | | High negative correlations |
Risk-Adjusted IndicatorsThere 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.
| | Portfolio AnalyzerPortfolio analysis module that provides access to portfolio diagnostics and optimization engine |
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.