Piedmont Lithium Correlations

PLL Stock

USD 7.11 0.08 1.14%

The current 90-days correlation between Piedmont Lithium and Sigma Lithium Resources is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Piedmont Lithium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Piedmont Lithium Ltd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Piedmont Lithium Correlation With Market

Weak diversification

The correlation between Piedmont Lithium Ltd and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Piedmont Lithium Ltd and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Piedmont Lithium Ltd. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Piedmont Stock

0.62	CMP	Compass Minerals Int	Pair Corr
0.74	IPX	IperionX Limited American	Pair Corr
0.73	LAC	Lithium Americas Corp	Pair Corr
0.92	LAR	Lithium Argentina Symbol Change	Pair Corr
0.92	LZM	Lifezone Metals	Pair Corr
0.72	SLI	Standard Lithium	Pair Corr
0.61	GRFX	Graphex Group Limited	Pair Corr
0.62	NVAWW	Nova Minerals Limited	Pair Corr
0.83	MTRN	Materion	Pair Corr

Moving against Piedmont Stock

0.72	VALE	Vale SA ADR	Pair Corr
0.71	MP	MP Materials Corp	Pair Corr
0.7	TMQ	Trilogy Metals	Pair Corr
0.67	TMC	TMC the metals Earnings Call Tomorrow	Pair Corr
0.63	RIO	Rio Tinto ADR	Pair Corr
0.55	EMX	EMX Royalty Corp	Pair Corr
0.5	VZLA	Vizsla Resources Corp	Pair Corr
0.46	NAK	Northern Dynasty Minerals Earnings Call Next Week	Pair Corr
0.45	NB	NioCorp Developments	Pair Corr
0.41	SKE	Skeena Resources Earnings Call Next Week	Pair Corr
0.83	MT	ArcelorMittal SA ADR	Pair Corr
0.74	USARW	USARW Symbol Change	Pair Corr
0.74	AU	AngloGold Ashanti plc	Pair Corr
0.7	X	United States Steel	Pair Corr
0.7	DC	Dakota Gold Corp	Pair Corr
0.67	NC	NACCO Industries	Pair Corr
0.46	CX	Cemex SAB de	Pair Corr
0.41	TMCWW	TMC the metals	Pair Corr

Related Correlations Analysis

	SGML	SLI	MP	VALE	LAC	NB	TECK	AMLI	APHLF	JORFF
SGML		0.11	-0.12	-0.1	0.24	-0.33	0.2	0.0	0.0	0.42	SGML
SLI	0.11		-0.41	-0.64	0.8	-0.2	0.52	0.0	0.0	0.51	SLI
MP	-0.12	-0.41		0.82	-0.34	0.68	0.08	0.0	0.0	-0.67	MP
VALE	-0.1	-0.64	0.82		-0.47	0.52	-0.07	0.0	0.0	-0.68	VALE
LAC	0.24	0.8	-0.34	-0.47		-0.36	0.4	0.0	0.0	0.54	LAC
NB	-0.33	-0.2	0.68	0.52	-0.36		0.11	0.0	0.0	-0.69	NB
TECK	0.2	0.52	0.08	-0.07	0.4	0.11		0.0	0.0	0.03	TECK
AMLI	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AMLI
APHLF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	APHLF
JORFF	0.42	0.51	-0.67	-0.68	0.54	-0.69	0.03	0.0	0.0		JORFF
	SGML	SLI	MP	VALE	LAC	NB	TECK	AMLI	APHLF	JORFF

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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

VALE	+ 0.82	MP
LAC	+ 0.8	SLI
NB	+ 0.68	MP
JORFF	+ 0.54	LAC
TECK	+ 0.52	SLI
NB	+ 0.52	VALE

High negative correlations

JORFF	- 0.69	NB
JORFF	- 0.68	VALE
JORFF	- 0.67	MP
VALE	- 0.64	SLI
LAC	- 0.47	VALE
MP	- 0.41	SLI

Risk-Adjusted Indicators

There is a big difference between Piedmont Stock performing well and Piedmont Lithium 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 Piedmont Lithium'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
SGML	2.32	0.10	0.07	(0.37)	2.60	(2.66)	7.36	(4.12)	16.82
SLI	3.08	(0.04)	0.00	(0.10)	0.00	0.00	7.01	(5.97)	18.40
MP	3.00	0.62	0.20	0.35	2.78	(3.82)	10.08	(4.91)	19.21
VALE	1.18	0.21	0.16	0.56	1.28	(1.26)	3.44	(2.05)	7.10
LAC	2.82	0.03	0.00	(0.04)	0.00	0.00	6.73	(4.91)	18.06
NB	4.18	0.69	0.13	0.28	4.44	(4.87)	9.40	(6.01)	28.59
TECK	1.60	(0.01)	0.04	(0.06)	2.21	(1.52)	3.88	(2.71)	13.54
AMLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APHLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JORFF	6.18	0.53	0.03	0.32	8.37	(17.59)	27.94	(19.12)	66.83

Piedmont Lithium Corporate Management

Nick Fouche	Senior Projects	Profile
Krishna McVey	Executive Officer	Profile
Kris McVey	Sr Officer	Profile
Austin Devaney	Executive Officer	Profile
Lamont Leatherman	Chief Geologist	Profile

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