Atlas Lithium Correlations

ATLX Stock

USD 7.77 0.05 0.65%

The current 90-days correlation between Atlas Lithium and New Pacific Metals is 0.29 (i.e., Modest 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

Significant diversification

The correlation between Atlas Lithium and DJI is 0.02 (i.e., Significant 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.

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

0.68

LITM

Snow Lake Resources

Pair Corr

Moving against Atlas Stock

0.66	IPX	IperionX Limited American	Pair Corr
0.55	BHP	BHP Group Limited	Pair Corr
0.55	CMP	Compass Minerals Int	Pair Corr
0.53	MP	MP Materials Corp	Pair Corr
0.51	LZM	Lifezone Metals	Pair Corr
0.39	GSM	Ferroglobe PLC	Pair Corr
0.38	GTI	Graphjet Technology Symbol Change	Pair Corr
0.34	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.31	EMX	EMX Royalty Corp	Pair Corr
0.72	WRN	Western Copper	Pair Corr
0.51	RIO	Rio Tinto ADR	Pair Corr
0.38	LAAC	Lithium Americas Corp	Pair Corr
0.37	IONR	ioneer American	Pair Corr

Related Correlations Analysis

	SILV	NEWP	EXK	MUX	MTA	HL	PLG	GATO	RIINF	MNMRF
SILV		0.8	0.87	0.64	0.82	0.59	0.86	0.94	-0.18	-0.57	SILV
NEWP	0.8		0.83	0.69	0.8	0.52	0.91	0.85	-0.14	-0.29	NEWP
EXK	0.87	0.83		0.4	0.73	0.33	0.93	0.92	-0.39	-0.63	EXK
MUX	0.64	0.69	0.4		0.76	0.89	0.53	0.62	0.33	0.06	MUX
MTA	0.82	0.8	0.73	0.76		0.72	0.78	0.88	-0.01	-0.33	MTA
HL	0.59	0.52	0.33	0.89	0.72		0.39	0.61	0.32	-0.06	HL
PLG	0.86	0.91	0.93	0.53	0.78	0.39		0.9	-0.32	-0.5	PLG
GATO	0.94	0.85	0.92	0.62	0.88	0.61	0.9		-0.26	-0.56	GATO
RIINF	-0.18	-0.14	-0.39	0.33	-0.01	0.32	-0.32	-0.26		0.44	RIINF
MNMRF	-0.57	-0.29	-0.63	0.06	-0.33	-0.06	-0.5	-0.56	0.44		MNMRF
	SILV	NEWP	EXK	MUX	MTA	HL	PLG	GATO	RIINF	MNMRF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

GATO	+ 0.94	SILV
PLG	+ 0.93	EXK
GATO	+ 0.92	EXK
PLG	+ 0.91	NEWP
GATO	+ 0.9	PLG
HL	+ 0.89	MUX

High negative correlations

MNMRF	- 0.63	EXK
MNMRF	- 0.57	SILV
MNMRF	- 0.56	GATO
MNMRF	- 0.5	PLG
RIINF	- 0.39	EXK
MNMRF	- 0.33	MTA

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	2.93	0.20	0.06	0.32	2.95	(3.52)	8.37	(4.82)	16.03
NEWP	3.03	(0.08)	0.00	0.05	3.23	(4.26)	6.77	(4.79)	24.14
EXK	3.28	0.67	0.13	(0.53)	3.17	(3.94)	7.74	(4.91)	17.20
MUX	2.37	(0.26)	0.00	(0.23)	0.00	0.00	5.60	(5.30)	15.30
MTA	2.65	0.17	0.03	0.53	3.24	(2.87)	6.98	(5.43)	20.05
HL	2.43	(0.18)	0.00	(0.08)	0.00	0.00	5.90	(4.82)	14.18
PLG	3.92	0.29	0.06	0.49	4.02	(4.56)	10.66	(6.39)	25.39
GATO	3.06	0.37	0.09	1.77	2.82	(3.43)	7.11	(5.14)	20.65
RIINF	2.17	0.06	(0.01)	(0.13)	3.23	(5.16)	5.26	(8.28)	20.71
MNMRF	10.02	0.79	0.03	(0.41)	13.00	(17.14)	24.84	(26.65)	107.03

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC