Snow Lake Correlations

LITM Stock

USD 0.69 0.09 15.00%

The current 90-days correlation between Snow Lake Resources and Ardea Resources Limited is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Snow Lake moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Snow Lake Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Snow Lake Correlation With Market

Average diversification

The correlation between Snow Lake Resources and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snow Lake Resources 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 Snow Lake Resources. 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 Snow Stock

0.65	LAR	Lithium Argentina Symbol Change	Pair Corr
0.67	LZM	Lifezone Metals	Pair Corr
0.68	SLI	Standard Lithium	Pair Corr
0.75	GRFX	Graphex Group Limited	Pair Corr
0.64	IONR	ioneer American	Pair Corr
0.68	ABAT	American Battery Tec	Pair Corr

Moving against Snow Stock

0.58	VALE	Vale SA ADR	Pair Corr
0.5	MP	MP Materials Corp	Pair Corr
0.5	RIO	Rio Tinto ADR	Pair Corr
0.4	TMC	TMC the metals Earnings Call Tomorrow	Pair Corr
0.39	BHP	BHP Group Limited	Pair Corr
0.35	TMQ	Trilogy Metals	Pair Corr
0.34	NB	NioCorp Developments	Pair Corr
0.34	EMX	EMX Royalty Corp	Pair Corr
0.67	MT	ArcelorMittal SA ADR	Pair Corr
0.66	DC	Dakota Gold Corp	Pair Corr
0.58	NIOBW	NioCorp Developments	Pair Corr
0.54	USARW	USARW Symbol Change	Pair Corr
0.51	TMCWW	TMC the metals	Pair Corr
0.49	CX	Cemex SAB de	Pair Corr
0.48	AU	AngloGold Ashanti plc	Pair Corr
0.44	NC	NACCO Industries	Pair Corr

Related Correlations Analysis

	CXOXF	PMETF	LMRMF	VULNF	LRSRF	ALCUF	ANSNF	ARRRF	EMHLF	OROCF
CXOXF		0.19	-0.02	0.25	0.05	-0.23	-0.08	-0.03	-0.16	0.0	CXOXF
PMETF	0.19		-0.78	0.81	-0.1	-0.73	0.4	-0.84	-0.05	0.0	PMETF
LMRMF	-0.02	-0.78		-0.62	0.14	0.54	-0.3	0.67	-0.04	0.0	LMRMF
VULNF	0.25	0.81	-0.62		-0.17	-0.73	0.49	-0.69	0.02	0.0	VULNF
LRSRF	0.05	-0.1	0.14	-0.17		0.06	-0.4	-0.01	-0.28	0.0	LRSRF
ALCUF	-0.23	-0.73	0.54	-0.73	0.06		-0.38	0.7	0.22	0.0	ALCUF
ANSNF	-0.08	0.4	-0.3	0.49	-0.4	-0.38		-0.22	-0.12	0.0	ANSNF
ARRRF	-0.03	-0.84	0.67	-0.69	-0.01	0.7	-0.22		0.14	0.0	ARRRF
EMHLF	-0.16	-0.05	-0.04	0.02	-0.28	0.22	-0.12	0.14		0.0	EMHLF
OROCF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		OROCF
	CXOXF	PMETF	LMRMF	VULNF	LRSRF	ALCUF	ANSNF	ARRRF	EMHLF	OROCF

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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

VULNF	+ 0.81	PMETF
ARRRF	+ 0.7	ALCUF
ARRRF	+ 0.67	LMRMF
ALCUF	+ 0.54	LMRMF
ANSNF	+ 0.49	VULNF
ANSNF	+ 0.4	PMETF

High negative correlations

ARRRF	- 0.84	PMETF
LMRMF	- 0.78	PMETF
ALCUF	- 0.73	VULNF
ALCUF	- 0.73	PMETF
ARRRF	- 0.69	VULNF
VULNF	- 0.62	LMRMF

Risk-Adjusted Indicators

There is a big difference between Snow Stock performing well and Snow Lake 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 Snow Lake'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
CXOXF	6.38	0.32	0.03	0.35	8.67	(9.41)	15.20	(18.10)	59.21
PMETF	3.10	(0.35)	0.00	0.34	0.00	0.00	6.67	(5.69)	20.02
LMRMF	4.55	0.65	0.08	0.41	4.89	(8.28)	12.66	(9.09)	45.38
VULNF	3.95	(0.25)	0.00	(0.83)	0.00	0.00	10.83	(12.81)	36.23
LRSRF	0.01	(0.02)	0.00	0.92	0.00	0.00	0.00	0.00	0.22
ALCUF	8.68	1.68	0.22	(0.59)	6.88	(14.34)	26.67	(10.00)	75.51
ANSNF	4.58	0.82	0.00	(2.62)	0.00	0.00	21.00	(7.19)	87.08
ARRRF	3.85	0.83	0.10	0.98	3.79	(9.81)	12.50	(7.14)	35.07
EMHLF	3.68	0.48	0.04	1.38	4.81	(11.70)	17.02	(13.98)	52.88
OROCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Snow Lake Corporate Management

BCom BComm	Chief Officer	Profile
Derek Knight	COO Sec	Profile
Brian Youngs	Vice Exploration	Profile
P MSc	VP Director	Profile
Kyle Nazareth	Interim Officer	Profile
Keith CPA	Chief Officer	Profile

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