Lithium Royalty Correlations

LITRF Stock

3.39 0.14 3.97%

The current 90-days correlation between Lithium Royalty Corp and Apple Inc is 0.04 (i.e., Significant diversification). The correlation of Lithium Royalty 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 Royalty Correlation With Market

Good diversification

The correlation between Lithium Royalty Corp and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lithium Royalty Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Lithium Royalty 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 Royalty 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 Royalty - 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 Royalty Corp to buy it.

Moving against Lithium Pink Sheet

0.76	COST	Costco Wholesale Corp	Pair Corr
0.73	T	ATT Inc Aggressive Push	Pair Corr
0.66	PLTR	Palantir Technologies	Pair Corr
0.64	AXIL	AXIL Brands,	Pair Corr
0.52	BRK-A	Berkshire Hathaway	Pair Corr
0.52	AAVMY	ABN AMRO Bank	Pair Corr
0.51	CHCJY	China Citic Bank	Pair Corr
0.49	META	Meta Platforms	Pair Corr
0.4	AAPL	Apple Inc	Pair Corr
0.38	HWM	Howmet Aerospace	Pair Corr
0.83	YUM	Yum Brands	Pair Corr
0.8	TCTZF	Tencent Holdings	Pair Corr
0.77	MCD	McDonalds	Pair Corr
0.72	BLAGF	Blue Lagoon Resources	Pair Corr
0.71	KO	Coca Cola	Pair Corr
0.68	WPM	Wheaton Precious Metals	Pair Corr
0.64	GRABW	Grab Holdings Limited	Pair Corr
0.58	AGI	Alamos Gold	Pair Corr
0.44	KOREF	KORE Mining	Pair Corr
0.4	GPI	Group 1 Automotive	Pair Corr
0.37	SAVEQ	Spirit Airlines,	Pair Corr
0.36	AAMMF	Almadex Minerals	Pair Corr

Related Correlations Analysis

	AAPL	NVDA	MSFT	AMZN	GOOG	BMYMP	META	BRK-A
AAPL		0.09	0.15	-0.1	0.04	-0.38	-0.22	-0.25	AAPL
NVDA	0.09		0.36	-0.26	-0.18	-0.45	-0.44	-0.29	NVDA
MSFT	0.15	0.36		0.31	0.3	-0.31	-0.44	-0.57	MSFT
AMZN	-0.1	-0.26	0.31		0.82	0.46	0.58	-0.3	AMZN
GOOG	0.04	-0.18	0.3	0.82		0.41	0.25	-0.57	GOOG
BMYMP	-0.38	-0.45	-0.31	0.46	0.41		0.61	0.18	BMYMP
META	-0.22	-0.44	-0.44	0.58	0.25	0.61		0.41	META
BRK-A	-0.25	-0.29	-0.57	-0.3	-0.57	0.18	0.41		BRK-A
	AAPL	NVDA	MSFT	AMZN	GOOG	BMYMP	META	BRK-A

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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

GOOG	+ 0.82	AMZN
META	+ 0.61	BMYMP
META	+ 0.58	AMZN
BMYMP	+ 0.46	AMZN
BMYMP	+ 0.41	GOOG
BRK-A	+ 0.41	META

High negative correlations

BRK-A	- 0.57	GOOG
BRK-A	- 0.57	MSFT
BMYMP	- 0.45	NVDA
META	- 0.44	MSFT
META	- 0.44	NVDA
BMYMP	- 0.38	AAPL

Risk-Adjusted Indicators

There is a big difference between Lithium Pink Sheet performing well and Lithium Royalty 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 Royalty'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
AAPL	1.07	0.05	0.05	(0.14)	1.62	(1.02)	2.10	(2.70)	7.04
NVDA	2.66	(0.16)	0.00	(0.15)	0.00	0.00	4.43	(4.18)	21.42
MSFT	1.03	(0.05)	0.00	(0.16)	0.00	0.00	2.20	(1.90)	10.31
AMZN	1.32	0.12	0.08	0.14	1.54	(1.43)	2.40	(2.62)	7.78
GOOG	1.45	0.05	0.03	0.11	1.90	(1.54)	3.10	(3.19)	12.40
BMYMP	4.02	0.26	0.04	(1.92)	4.99	(5.35)	12.78	(8.24)	41.09
META	1.36	0.28	0.17	0.57	1.44	(1.42)	3.22	(2.29)	7.11
BRK-A	0.82	0.15	0.17	0.20	0.74	(0.93)	1.98	(1.43)	5.20

Lithium Royalty Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Lithium Royalty pink sheet to make a market-neutral strategy. Peer analysis of Lithium Royalty could also be used in its relative valuation, which is a method of valuing Lithium Royalty by comparing valuation metrics with similar companies.

Apple Inc NVIDIA Microsoft Amazon Inc Alphabet Inc Class C Bristol Myers Squibb Meta Platforms Berkshire Hathaway American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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