Lithium Americas Correlations

LAC Stock

USD 3.95 0.05 1.28%

The current 90-days correlation between Lithium Americas Corp and Sigma Lithium Resources is 0.53 (i.e., Very weak diversification). The correlation of Lithium Americas 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.

Lithium Americas Correlation With Market

Modest diversification

The correlation between Lithium Americas Corp and DJI is 0.21 (i.e., Modest 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.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lithium Americas Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Lithium Stock

0.83	MP	MP Materials Corp	Pair Corr
0.72	CMP	Compass Minerals Int	Pair Corr
0.66	IPX	IperionX Limited American	Pair Corr
0.8	LGO	Largo Resources	Pair Corr
0.84	NAK	Northern Dynasty Minerals	Pair Corr
0.77	PLL	Piedmont Lithium	Pair Corr
0.73	SLI	Standard Lithium	Pair Corr
0.7	TMQ	Trilogy Metals	Pair Corr
0.63	WWR	Westwater Resources	Pair Corr
0.89	JAPSY	Japan Airlines	Pair Corr
0.7	LAAC	Lithium Americas Corp	Pair Corr
0.67	AVLNF	Avalon Advanced Materials	Pair Corr
0.77	NEXA	Nexa Resources SA	Pair Corr

Moving against Lithium Stock

0.75	ELBM	Electra Battery Materials	Pair Corr
0.64	BYU	BAIYU Holdings	Pair Corr
0.52	NB	NioCorp Developments	Pair Corr
0.48	NMG	Nouveau Monde Graphite	Pair Corr
0.79	XPL	Solitario Exploration	Pair Corr
0.78	KNBWY	Kirin Holdings	Pair Corr
0.49	LITM	Snow Lake Resources	Pair Corr
0.46	ERLFF	Entree Resources	Pair Corr
0.46	TMCWW	TMC the metals	Pair Corr
0.41	DLEXY	Datalex plc	Pair Corr
0.36	WRN	Western Copper	Pair Corr
0.33	TMC	TMC the metals	Pair Corr

Related Correlations Analysis

	SGML	SLI	SYAXF	MP	PLL	NB	TECK	AMLI	APHLF	VALE
SGML		0.82	0.82	0.89	0.82	-0.2	0.4	0.85	0.93	0.14	SGML
SLI	0.82		0.65	0.78	0.85	-0.08	0.36	0.88	0.82	0.24	SLI
SYAXF	0.82	0.65		0.7	0.74	-0.12	0.41	0.7	0.8	0.24	SYAXF
MP	0.89	0.78	0.7		0.82	-0.36	0.29	0.82	0.92	0.04	MP
PLL	0.82	0.85	0.74	0.82		-0.37	0.18	0.89	0.87	0.01	PLL
NB	-0.2	-0.08	-0.12	-0.36	-0.37		0.39	-0.17	-0.34	0.61	NB
TECK	0.4	0.36	0.41	0.29	0.18	0.39		0.32	0.23	0.85	TECK
AMLI	0.85	0.88	0.7	0.82	0.89	-0.17	0.32		0.88	0.09	AMLI
APHLF	0.93	0.82	0.8	0.92	0.87	-0.34	0.23	0.88		-0.02	APHLF
VALE	0.14	0.24	0.24	0.04	0.01	0.61	0.85	0.09	-0.02		VALE
	SGML	SLI	SYAXF	MP	PLL	NB	TECK	AMLI	APHLF	VALE

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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

APHLF	+ 0.93	SGML
APHLF	+ 0.92	MP
MP	+ 0.89	SGML
AMLI	+ 0.89	PLL
AMLI	+ 0.88	SLI
APHLF	+ 0.88	AMLI

High negative correlations

NB	- 0.37	PLL
NB	- 0.36	MP
APHLF	- 0.34	NB
NB	- 0.2	SGML
AMLI	- 0.17	NB
NB	- 0.12	SYAXF

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SGML	3.38	0.32	0.11	0.32	3.20	(4.08)	7.65	(4.78)	21.69
SLI	5.35	0.53	0.10	0.60	5.23	(6.76)	14.53	(8.93)	35.90
SYAXF	5.83	0.56	0.05	(0.67)	7.00	(6.49)	15.79	(11.76)	39.17
MP	2.43	0.61	0.26	0.52	2.01	(2.83)	7.34	(3.74)	17.15
PLL	6.14	1.00	0.11	(0.47)	5.59	(7.75)	15.69	(9.30)	34.61
NB	3.33	(0.47)	0.00	(0.71)	0.00	0.00	5.33	(7.96)	28.43
TECK	1.75	(0.20)	0.00	(0.04)	0.00	0.00	3.96	(4.64)	11.11
AMLI	6.03	0.95	0.16	0.62	5.73	(8.55)	17.72	(8.33)	61.72
APHLF	2.09	0.74	0.25	(2.75)	1.53	(3.17)	7.53	(2.78)	23.05
VALE	1.48	(0.19)	0.00	(0.30)	0.00	0.00	3.72	(3.49)	11.97

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