Atlas Lithium Correlations

ATLX Stock

USD 4.00 0.04 1.01%

The current 90-days correlation between Atlas Lithium and Thunder Mountain Gold is -0.13 (i.e., Good diversification). The correlation of Atlas Lithium 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.

Atlas Lithium Correlation With Market

Very weak diversification

The correlation between Atlas Lithium and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Lithium and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Atlas Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Atlas Lithium. 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.

For more information on how to buy Atlas Stock please use our How to Invest in Atlas Lithium guide.

Moving together with Atlas Stock

0.69	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.62	GRO	Brazil Potash Corp	Pair Corr
0.61	LAR	Lithium Argentina Symbol Change	Pair Corr
0.7	LGO	Largo Resources	Pair Corr
0.64	LITM	Snow Lake Resources	Pair Corr
0.69	MTRN	Materion	Pair Corr

Moving against Atlas Stock

0.4	CMP	Compass Minerals Int	Pair Corr
0.34	NB	NioCorp Developments	Pair Corr
0.46	TMCWW	TMC the metals	Pair Corr
0.43	TMC	TMC the metals Downward Rally	Pair Corr
0.41	USARW	USA Rare Earth, Symbol Change	Pair Corr
0.31	SKE	Skeena Resources	Pair Corr
0.46	NIOBW	NioCorp Developments	Pair Corr
0.45	USAR	USA Rare Earth, Symbol Change	Pair Corr

Related Correlations Analysis

	SILV	NEWP	EXK	MUX	MTA	HL	PLG	GATO	RIINF	MNMRF
SILV		0.29	0.55	0.52	0.56	0.6	0.37	0.0	0.11	-0.26	SILV
NEWP	0.29		0.7	0.86	0.81	0.59	0.94	0.0	0.42	-0.41	NEWP
EXK	0.55	0.7		0.88	0.83	0.8	0.78	0.0	0.41	-0.21	EXK
MUX	0.52	0.86	0.88		0.96	0.76	0.92	0.0	0.42	-0.41	MUX
MTA	0.56	0.81	0.83	0.96		0.73	0.87	0.0	0.33	-0.46	MTA
HL	0.6	0.59	0.8	0.76	0.73		0.63	0.0	0.29	-0.19	HL
PLG	0.37	0.94	0.78	0.92	0.87	0.63		0.0	0.44	-0.44	PLG
GATO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	GATO
RIINF	0.11	0.42	0.41	0.42	0.33	0.29	0.44	0.0		-0.03	RIINF
MNMRF	-0.26	-0.41	-0.21	-0.41	-0.46	-0.19	-0.44	0.0	-0.03		MNMRF
	SILV	NEWP	EXK	MUX	MTA	HL	PLG	GATO	RIINF	MNMRF

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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

MTA	+ 0.96	MUX
PLG	+ 0.94	NEWP
PLG	+ 0.92	MUX
MUX	+ 0.88	EXK
PLG	+ 0.87	MTA
MUX	+ 0.86	NEWP

High negative correlations

MNMRF	- 0.46	MTA
MNMRF	- 0.44	PLG
MNMRF	- 0.41	MUX
MNMRF	- 0.41	NEWP
MNMRF	- 0.26	SILV
MNMRF	- 0.21	EXK

Risk-Adjusted Indicators

There is a big difference between Atlas Stock performing well and Atlas 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 Atlas 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
SILV	2.70	0.22	0.06	(0.69)	2.99	(2.92)	7.36	(4.41)	15.24
NEWP	3.28	0.23	0.05	0.34	3.50	(4.12)	9.35	(6.08)	23.79
EXK	3.46	0.15	0.04	0.16	4.06	(4.00)	7.57	(5.87)	23.31
MUX	2.39	0.36	0.11	0.55	2.75	(2.63)	5.88	(4.35)	16.75
MTA	2.56	0.45	0.15	0.81	2.42	(3.11)	5.51	(3.96)	18.95
HL	2.72	0.08	0.02	0.14	4.26	(2.83)	5.67	(4.80)	29.10
PLG	3.56	0.43	0.10	0.36	4.07	(4.15)	8.33	(6.14)	25.82
GATO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RIINF	7.63	0.37	0.04	1.06	8.48	(9.38)	19.40	(14.53)	45.10
MNMRF	6.34	(0.41)	0.00	28.09	0.00	0.00	13.33	(14.84)	45.96

Atlas Lithium Corporate Management

Areli Junior	VicePres Exploration	Profile
Gary Guyton	Vice Relations	Profile
James Abson	Chief Officer	Profile
Nicholas BCom	Vice Development	Profile
Gustavo Aguiar	Principal CFO	Profile

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