Sigma Lithium Correlations

SGML Stock

USD 5.19 0.38 7.90%

The current 90-days correlation between Sigma Lithium Resources and Nathans Famous is -0.19 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sigma Lithium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sigma Lithium Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sigma Lithium Correlation With Market

Good diversification

The correlation between Sigma Lithium Resources and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sigma Lithium Resources and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sigma Lithium Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Sigma Stock

0.88	NEXA	Nexa Resources SA	Pair Corr
0.66	USGOW	US GoldMining Warrant	Pair Corr
0.78	LGO	Largo Resources	Pair Corr
0.65	PLL	Piedmont Lithium	Pair Corr
0.61	IONR	ioneer American	Pair Corr
0.72	LITM	Snow Lake Resources	Pair Corr

Moving against Sigma Stock

0.86	VZLA	Vizsla Resources Corp	Pair Corr
0.84	TMC	TMC the metals	Pair Corr
0.82	CMP	Compass Minerals Int	Pair Corr
0.81	IPX	IperionX Limited American	Pair Corr
0.81	SKE	Skeena Resources	Pair Corr
0.78	SLI	Standard Lithium	Pair Corr
0.77	FURY	Fury Gold Mines	Pair Corr
0.76	EMX	EMX Royalty Corp	Pair Corr
0.71	LZM	Lifezone Metals	Pair Corr
0.67	NAK	Northern Dynasty Minerals	Pair Corr
0.66	WRN	Western Copper	Pair Corr
0.55	GSM	Ferroglobe PLC	Pair Corr
0.48	XPL	Solitario Exploration	Pair Corr
0.47	MP	MP Materials Corp	Pair Corr
0.46	USARW	USA Rare Earth, Symbol Change	Pair Corr
0.43	WWR	Westwater Resources	Pair Corr
0.34	BHP	BHP Group Limited	Pair Corr
0.32	NVA	Nova Minerals Limited	Pair Corr
0.88	CF	CF Industries Holdings	Pair Corr
0.84	DC	Dakota Gold Corp	Pair Corr
0.84	EU	enCore Energy Corp	Pair Corr
0.83	TMCWW	TMC the metals	Pair Corr
0.83	IE	Ivanhoe Electric	Pair Corr
0.81	CE	Celanese	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.78	CX	Cemex SAB de	Pair Corr
0.76	USAS	Americas Silver Corp	Pair Corr

Related Correlations Analysis

	NATH	FMX	DENN	DIN	SAM	CBRL	CAVA	ABEV
NATH		0.39	0.6	0.9	-0.63	0.66	-0.53	0.35	NATH
FMX	0.39		0.39	0.3	-0.05	0.49	-0.07	0.81	FMX
DENN	0.6	0.39		0.65	-0.47	0.74	-0.03	0.64	DENN
DIN	0.9	0.3	0.65		-0.74	0.81	-0.57	0.26	DIN
SAM	-0.63	-0.05	-0.47	-0.74		-0.71	0.73	0.11	SAM
CBRL	0.66	0.49	0.74	0.81	-0.71		-0.42	0.43	CBRL
CAVA	-0.53	-0.07	-0.03	-0.57	0.73	-0.42		0.28	CAVA
ABEV	0.35	0.81	0.64	0.26	0.11	0.43	0.28		ABEV
	NATH	FMX	DENN	DIN	SAM	CBRL	CAVA	ABEV

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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

DIN	+ 0.9	NATH
ABEV	+ 0.81	FMX
CBRL	+ 0.81	DIN
CBRL	+ 0.74	DENN
CAVA	+ 0.73	SAM
CBRL	+ 0.66	NATH

High negative correlations

SAM	- 0.74	DIN
CBRL	- 0.71	SAM
SAM	- 0.63	NATH
CAVA	- 0.57	DIN
CAVA	- 0.53	NATH
SAM	- 0.47	DENN

Risk-Adjusted Indicators

There is a big difference between Sigma Stock performing well and Sigma 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 Sigma 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
NATH	1.39	0.19	0.09	0.41	1.36	(1.59)	3.53	(2.87)	8.42
FMX	1.06	0.25	0.11	(4.78)	1.04	(1.17)	2.29	(2.14)	7.78
DENN	2.95	0.57	0.11	(2.93)	3.41	(3.61)	5.71	(4.45)	21.45
DIN	2.65	0.16	0.06	0.23	2.73	(3.10)	7.07	(5.31)	17.47
SAM	1.50	(0.26)	0.00	(3.78)	0.00	0.00	3.16	(3.40)	9.80
CBRL	3.03	1.07	0.28	(8.65)	2.62	(3.59)	9.37	(4.20)	21.87
CAVA	2.19	0.21	0.03	(0.84)	2.55	(2.71)	5.29	(4.70)	24.17
ABEV	1.09	0.20	0.06	(1.59)	1.10	(1.37)	2.21	(1.75)	10.38

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