American Battery Correlations

ABAT Stock

0.95 0.06 6.74%

The current 90-days correlation between American Battery Tec and Flexible Solutions International is -0.03 (i.e., Good diversification). The correlation of American Battery 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.

American Battery Correlation With Market

Modest diversification

The correlation between American Battery Technology and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Battery Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Battery Technology. 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 American Stock

0.68	NMG	Nouveau Monde Graphite	Pair Corr
0.64	XPL	Solitario Exploration	Pair Corr
0.66	DLEXY	Datalex plc	Pair Corr
0.72	LITM	Snow Lake Resources	Pair Corr

Moving against American Stock

0.59	CMP	Compass Minerals Int	Pair Corr
0.56	IPX	IperionX Limited American	Pair Corr
0.48	NAK	Northern Dynasty Minerals	Pair Corr
0.44	MP	MP Materials Corp	Pair Corr
0.41	GTI	Graphjet Technology Symbol Change	Pair Corr
0.41	LZM	Lifezone Metals	Pair Corr
0.36	LAC	Lithium Americas Corp	Pair Corr
0.66	TMQ	Trilogy Metals	Pair Corr
0.59	JAPSY	Japan Airlines	Pair Corr
0.5	REEMF	Rare Element Resources	Pair Corr
0.41	NEXA	Nexa Resources SA	Pair Corr
0.38	USGOW	US GoldMining Warrant	Pair Corr

Related Correlations Analysis

	MTX	DLPN	IPGP	EVC	FSI	JELD	HIHO	GMS
MTX		-0.58	0.68	0.88	0.71	-0.62	0.38	0.89	MTX
DLPN	-0.58		-0.59	-0.69	-0.69	0.55	-0.24	-0.57	DLPN
IPGP	0.68	-0.59		0.77	0.82	-0.29	0.34	0.65	IPGP
EVC	0.88	-0.69	0.77		0.86	-0.71	0.45	0.84	EVC
FSI	0.71	-0.69	0.82	0.86		-0.58	0.47	0.67	FSI
JELD	-0.62	0.55	-0.29	-0.71	-0.58		-0.18	-0.55	JELD
HIHO	0.38	-0.24	0.34	0.45	0.47	-0.18		0.3	HIHO
GMS	0.89	-0.57	0.65	0.84	0.67	-0.55	0.3		GMS
	MTX	DLPN	IPGP	EVC	FSI	JELD	HIHO	GMS

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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

GMS	+ 0.89	MTX
EVC	+ 0.88	MTX
FSI	+ 0.86	EVC
GMS	+ 0.84	EVC
FSI	+ 0.82	IPGP
EVC	+ 0.77	IPGP

High negative correlations

JELD	- 0.71	EVC
FSI	- 0.69	DLPN
EVC	- 0.69	DLPN
JELD	- 0.62	MTX
IPGP	- 0.59	DLPN
JELD	- 0.58	FSI

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Battery 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 American Battery'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
MTX	1.29	(0.07)	0.02	0.08	1.30	(1.44)	2.46	(2.51)	11.90
DLPN	3.06	(0.44)	0.00	(0.58)	0.00	0.00	6.90	(6.06)	21.14
IPGP	1.69	(0.03)	0.03	0.10	1.83	(1.82)	4.46	(3.32)	11.69
EVC	2.19	0.10	0.08	0.17	2.38	(2.92)	4.81	(4.41)	14.74
FSI	2.47	0.47	0.11	1.89	2.93	(2.89)	6.31	(4.52)	22.22
JELD	2.39	(0.48)	0.00	(0.19)	0.00	0.00	3.93	(5.43)	33.73
HIHO	1.84	0.11	0.01	0.45	3.00	(2.11)	2.73	(2.70)	41.88
GMS	1.42	(0.04)	0.01	0.09	1.93	(1.48)	2.62	(3.29)	7.46

American Battery Corporate Management

Steven Wu	Chief Officer	Profile
Ross Leisinger	Head Resources	Profile
Jesse Deutsch	Chief Officer	Profile
Bret Meich	General Secretary	Profile

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