Sigma Lithium Correlations

SGML Stock

USD 6.06 0.16 2.71%

The current 90-days correlation between Sigma Lithium Resources and Nexa Resources SA is 0.25 (i.e., Modest 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 -0.15 (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.

Build AI portfolio with Sigma Stock

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 signals in industry.

Moving against Sigma Stock

0.38	HTM	High Tech Metals	Pair Corr
0.32	THR	Thor Mining PLC	Pair Corr
0.44	AXE	Archer Materials	Pair Corr
0.38	NCX	NorthIsle Copper	Pair Corr
0.37	TM1	Technology Minerals PLC	Pair Corr

Related Correlations Analysis

	NEXA	ABAT	NB	GTI	LAR	CMP	NMG	LWLG	GPRE	MTUS
NEXA		0.49	0.46	-0.13	0.7	-0.44	0.64	0.69	0.28	0.15	NEXA
ABAT	0.49		0.94	0.34	0.83	0.11	0.93	0.72	0.3	0.31	ABAT
NB	0.46	0.94		0.34	0.8	-0.01	0.88	0.74	0.37	0.39	NB
GTI	-0.13	0.34	0.34		0.08	0.13	0.15	0.08	0.17	0.39	GTI
LAR	0.7	0.83	0.8	0.08		-0.09	0.9	0.8	0.34	0.22	LAR
CMP	-0.44	0.11	-0.01	0.13	-0.09		0.02	-0.36	-0.14	-0.35	CMP
NMG	0.64	0.93	0.88	0.15	0.9	0.02		0.77	0.29	0.16	NMG
LWLG	0.69	0.72	0.74	0.08	0.8	-0.36	0.77		0.43	0.3	LWLG
GPRE	0.28	0.3	0.37	0.17	0.34	-0.14	0.29	0.43		0.44	GPRE
MTUS	0.15	0.31	0.39	0.39	0.22	-0.35	0.16	0.3	0.44		MTUS
	NEXA	ABAT	NB	GTI	LAR	CMP	NMG	LWLG	GPRE	MTUS

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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

NB	+ 0.94	ABAT
NMG	+ 0.93	ABAT
NMG	+ 0.9	LAR
NMG	+ 0.88	NB
LAR	+ 0.83	ABAT
LAR	+ 0.8	NB

High negative correlations

CMP	- 0.44	NEXA
LWLG	- 0.36	CMP
MTUS	- 0.35	CMP
GPRE	- 0.14	CMP
GTI	- 0.13	NEXA
CMP	- 0.09	LAR

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
NEXA	1.79	0.39	0.16	(2.41)	1.54	(2.30)	5.90	(3.20)	11.63
ABAT	8.37	1.30	0.11	(0.54)	9.34	(10.18)	22.89	(15.63)	73.24
NB	5.50	0.55	0.07	0.61	7.19	(5.51)	12.20	(13.18)	34.42
GTI	6.60	(2.84)	0.00	(0.25)	0.00	0.00	8.46	(9.59)	153.22
LAR	4.34	0.74	0.11	(0.38)	4.56	(5.01)	11.02	(7.46)	36.13
CMP	1.86	(0.04)	0.00	0.13	0.00	0.00	3.28	(3.41)	11.16
NMG	5.15	1.20	0.14	(0.26)	5.77	(6.94)	13.28	(7.76)	70.67
LWLG	6.19	1.49	0.20	4.46	6.06	(6.68)	13.55	(10.66)	40.66
GPRE	4.47	0.47	0.06	(0.25)	4.80	(5.05)	9.69	(7.68)	27.29
MTUS	1.64	0.05	(0.02)	(0.05)	1.95	(1.86)	3.95	(3.59)	9.79

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