Lithium Americas Correlations

LAC Stock

USD 3.28 0.05 1.50%

The current 90-days correlation between Lithium Americas Corp and Sigma Lithium Resources is 0.11 (i.e., Average diversification). The correlation of Lithium Americas 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 Americas Correlation With Market

Significant diversification

The correlation between Lithium Americas Corp and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lithium Americas Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Lithium Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lithium Americas Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Lithium Stock

0.71

PLL

Piedmont Lithium Downward Rally

Pair Corr

Moving against Lithium Stock

0.45	NVA	Nova Minerals Limited	Pair Corr
0.34	VZLA	Vizsla Resources Corp	Pair Corr
0.33	FURY	Fury Gold Mines	Pair Corr
0.47	B	Barrick Mining Earnings Call Tomorrow	Pair Corr
0.37	WRN	Western Copper	Pair Corr
0.37	XPL	Solitario Exploration	Pair Corr
0.36	TECK	Teck Resources Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	PLL	SGML	SLI	MP	VALE	ALB	SQM	BLNK
PLL		0.84	0.01	0.14	0.15	0.14	0.45	-0.14	PLL
SGML	0.84		-0.34	-0.17	-0.08	-0.2	0.3	-0.43	SGML
SLI	0.01	-0.34		0.82	0.63	0.91	0.59	0.8	SLI
MP	0.14	-0.17	0.82		0.28	0.77	0.55	0.71	MP
VALE	0.15	-0.08	0.63	0.28		0.71	0.64	0.47	VALE
ALB	0.14	-0.2	0.91	0.77	0.71		0.72	0.83	ALB
SQM	0.45	0.3	0.59	0.55	0.64	0.72		0.48	SQM
BLNK	-0.14	-0.43	0.8	0.71	0.47	0.83	0.48		BLNK
	PLL	SGML	SLI	MP	VALE	ALB	SQM	BLNK

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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

ALB	+ 0.91	SLI
SGML	+ 0.84	PLL
BLNK	+ 0.83	ALB
MP	+ 0.82	SLI
BLNK	+ 0.8	SLI
ALB	+ 0.77	MP

High negative correlations

BLNK	- 0.43	SGML
SLI	- 0.34	SGML
ALB	- 0.2	SGML
MP	- 0.17	SGML
BLNK	- 0.14	PLL
VALE	- 0.08	SGML

Risk-Adjusted Indicators

There is a big difference between Lithium Stock performing well and Lithium Americas 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 Americas' 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
PLL	3.72	0.30	0.08	0.57	2.88	(5.29)	11.46	(4.96)	29.98
SGML	3.92	0.16	(0.02)	(0.03)	3.98	(5.18)	8.88	(6.39)	18.54
SLI	3.42	1.14	0.28	11.67	2.97	(4.16)	9.85	(4.83)	19.68
MP	5.20	1.55	0.30	24.88	3.87	(6.42)	13.63	(7.97)	50.88
VALE	1.36	(0.01)	(0.03)	0.12	1.68	(1.45)	3.51	(2.74)	8.59
ALB	2.40	0.31	0.13	0.34	2.36	(2.61)	6.29	(4.43)	12.52
SQM	1.86	0.01	0.00	0.14	1.88	(2.33)	3.89	(3.27)	10.14
BLNK	4.27	0.51	0.12	0.44	4.59	(4.87)	10.47	(7.14)	22.29

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