Largo Resources Correlations

LGO Stock

USD 2.03 0.01 0.49%

The current 90-days correlation between Largo Resources and EMX Royalty Corp is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Largo Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Largo Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Largo Resources Correlation With Market

Modest diversification

The correlation between Largo Resources and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Largo Resources and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Largo Stock, please use our How to Invest in Largo Resources guide.

Moving together with Largo Stock

0.62	MP	MP Materials Corp	Pair Corr
0.8	LAC	Lithium Americas Corp	Pair Corr
0.7	PLL	Piedmont Lithium	Pair Corr
0.74	SLI	Standard Lithium	Pair Corr

Moving against Largo Stock

0.45	ELBM	Electra Battery Materials	Pair Corr
0.42	XPL	Solitario Exploration	Pair Corr
0.38	WRN	Western Copper	Pair Corr
0.36	TMCWW	TMC the metals	Pair Corr

Related Correlations Analysis

	SKE	MTRN	CMP	IPX	EMX	NEXA	SLI	VANAF	OIIIF	ATCMF
SKE		-0.23	0.63	0.33	0.84	0.67	0.71	-0.06	0.44	-0.15	SKE
MTRN	-0.23		0.16	0.18	-0.15	0.11	0.01	-0.28	-0.04	0.08	MTRN
CMP	0.63	0.16		0.83	0.6	0.86	0.73	-0.17	0.24	-0.34	CMP
IPX	0.33	0.18	0.83		0.27	0.67	0.63	0.0	-0.01	-0.4	IPX
EMX	0.84	-0.15	0.6	0.27		0.69	0.66	-0.22	0.45	-0.03	EMX
NEXA	0.67	0.11	0.86	0.67	0.69		0.81	-0.46	0.32	-0.26	NEXA
SLI	0.71	0.01	0.73	0.63	0.66	0.81		-0.11	0.21	-0.02	SLI
VANAF	-0.06	-0.28	-0.17	0.0	-0.22	-0.46	-0.11		-0.14	0.0	VANAF
OIIIF	0.44	-0.04	0.24	-0.01	0.45	0.32	0.21	-0.14		0.07	OIIIF
ATCMF	-0.15	0.08	-0.34	-0.4	-0.03	-0.26	-0.02	0.0	0.07		ATCMF
	SKE	MTRN	CMP	IPX	EMX	NEXA	SLI	VANAF	OIIIF	ATCMF

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

NEXA	+ 0.86	CMP
EMX	+ 0.84	SKE
IPX	+ 0.83	CMP
SLI	+ 0.81	NEXA
SLI	+ 0.73	CMP
SLI	+ 0.71	SKE

High negative correlations

VANAF	- 0.46	NEXA
ATCMF	- 0.4	IPX
ATCMF	- 0.34	CMP
VANAF	- 0.28	MTRN
ATCMF	- 0.26	NEXA
MTRN	- 0.23	SKE

Risk-Adjusted Indicators

There is a big difference between Largo Stock performing well and Largo Resources 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 Largo Resources' 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
SKE	2.28	0.33	0.07	(2.53)	2.55	(2.84)	4.99	(2.97)	20.96
MTRN	1.86	0.03	(0.02)	0.71	3.10	(1.80)	3.54	(2.83)	15.89
CMP	3.53	0.70	0.22	0.84	2.86	(4.69)	10.57	(5.36)	27.27
IPX	2.96	0.90	0.26	0.98	2.45	(3.39)	8.90	(5.15)	20.46
EMX	1.65	(0.05)	(0.06)	(0.01)	1.85	(2.11)	4.44	(2.99)	9.74
NEXA	1.70	0.28	0.07	(3.45)	1.64	(1.91)	3.58	(2.92)	8.62
SLI	5.41	0.65	0.12	0.66	5.15	(6.95)	14.53	(8.93)	35.90
VANAF	0.26	0.10	0.00	5.18	0.00	0.00	0.00	0.00	9.89
OIIIF	3.18	0.06	(0.01)	0.46	3.74	(5.09)	10.14	(7.89)	28.98
ATCMF	3.43	(0.51)	0.00	(0.10)	0.00	0.00	9.09	(9.09)	29.09

Largo Resources Corporate Management

Paulo Misk	CEO Pres	Profile
Paul Vollant	Director Trading	Profile
Kurt Menchen	Advisor	Profile
Nilson Chaves	VP Brazil	Profile
David Harris	Corporate Controller	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