Lake Resources Correlations

LKE Stock   0.03  0  5.71%   
The current 90-days correlation between Lake Resources NL and Retail Food Group is 0.11 (i.e., Average diversification). The correlation of Lake Resources 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Lake Resources Correlation With Market

Good diversification

The correlation between Lake Resources NL and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lake Resources NL and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Lake Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lake Resources 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 Lake Resources - 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 Lake Resources NL to buy it.

Moving together with Lake Stock

  0.77AAI Alcoa IncPairCorr

Moving against Lake Stock

  0.8ATM Aneka Tambang TbkPairCorr
  0.75EVN Evolution MiningPairCorr
  0.72CBAPK Commonwealth BankPairCorr
  0.63BSL Bluescope SteelPairCorr
  0.57CBAPJ Commonwealth BankPairCorr
  0.52DEG De Grey MiningPairCorr
  0.47NST Northern Star ResourcesPairCorr
  0.45SFR Sandfire ResourcesPairCorr
  0.32CBA Commonwealth BankPairCorr

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   
SEQIFL
IFLERD
SEQQBE
IFLMBLPD
MBLPDERD
SEQERD
  
High negative correlations   
IFLRFG
SEQRFG
RFGERD
MBLPDRFG
QBERFG
SRHSEQ

Risk-Adjusted Indicators

There is a big difference between Lake Stock performing well and Lake Resources 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 Lake Resources' 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 Lake Resources 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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Lake Resources Corporate Management

Elected by the shareholders, the Lake Resources' board of directors comprises two types of representatives: Lake Resources inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Lake. The board's role is to monitor Lake Resources' management team and ensure that shareholders' interests are well served. Lake Resources' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Lake Resources' outside directors are responsible for providing unbiased perspectives on the board's policies.
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