MP Materials Correlations

MP Stock

USD 27.59 4.91 21.65%

The current 90-days correlation between MP Materials Corp and Piedmont Lithium Ltd is 0.42 (i.e., Very weak diversification). The correlation of MP Materials 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.

MP Materials Correlation With Market

Modest diversification

The correlation between MP Materials Corp and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MP Materials Corp 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 MP Materials Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with MP Materials Stock

0.85	VALE	Vale SA ADR Earnings Call This Week	Pair Corr
0.67	VZLA	Vizsla Resources Corp	Pair Corr
0.68	EMX	EMX Royalty Corp	Pair Corr
0.7	TMQ	Trilogy Metals	Pair Corr

Moving against MP Materials Stock

0.6	CMP	Compass Minerals Int	Pair Corr
0.56	LZM	Lifezone Metals	Pair Corr
0.55	NMG	Nouveau Monde Graphite	Pair Corr
0.54	PLL	Piedmont Lithium	Pair Corr
0.5	LAR	Lithium Argentina Symbol Change	Pair Corr
0.49	MTRN	Materion	Pair Corr
0.49	WWR	Westwater Resources	Pair Corr
0.45	SLI	Standard Lithium	Pair Corr
0.43	IPX	IperionX Limited American	Pair Corr
0.35	NEXA	Nexa Resources SA	Pair Corr
0.31	ELBM	Electra Battery Materials	Pair Corr
0.69	FF	FutureFuel Corp	Pair Corr
0.68	CRML	Critical Metals Corp Buyout Trend	Pair Corr
0.65	ABAT	American Battery Tec	Pair Corr
0.65	EU	enCore Energy Corp	Pair Corr
0.56	LITM	Snow Lake Resources	Pair Corr
0.5	NVAWW	Nova Minerals Limited Upward Rally	Pair Corr
0.48	CF	CF Industries Holdings Earnings Call This Week	Pair Corr
0.47	CRMLW	Critical Metals Corp	Pair Corr
0.4	CC	Chemours	Pair Corr

Related Correlations Analysis

	PLL	SGML	SLI	VALE	RIO	BHP	TECK	LAC	SYAXF
PLL		0.58	0.9	-0.43	0.16	0.55	0.78	0.74	0.71	PLL
SGML	0.58		0.47	0.24	0.76	0.89	0.89	0.45	0.42	SGML
SLI	0.9	0.47		-0.39	0.13	0.47	0.73	0.79	0.63	SLI
VALE	-0.43	0.24	-0.39		0.71	0.42	0.06	-0.2	-0.24	VALE
RIO	0.16	0.76	0.13	0.71		0.87	0.64	0.26	0.17	RIO
BHP	0.55	0.89	0.47	0.42	0.87		0.86	0.5	0.49	BHP
TECK	0.78	0.89	0.73	0.06	0.64	0.86		0.6	0.58	TECK
LAC	0.74	0.45	0.79	-0.2	0.26	0.5	0.6		0.71	LAC
SYAXF	0.71	0.42	0.63	-0.24	0.17	0.49	0.58	0.71		SYAXF
	PLL	SGML	SLI	VALE	RIO	BHP	TECK	LAC	SYAXF

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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

SLI	+ 0.9	PLL
BHP	+ 0.89	SGML
TECK	+ 0.89	SGML
BHP	+ 0.87	RIO
TECK	+ 0.86	BHP
LAC	+ 0.79	SLI

High negative correlations

VALE	- 0.43	PLL
VALE	- 0.39	SLI
SYAXF	- 0.24	VALE
LAC	- 0.2	VALE

Risk-Adjusted Indicators

There is a big difference between MP Materials Stock performing well and MP Materials 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 MP Materials' 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
PLL	2.68	(0.36)	0.00	(0.42)	0.00	0.00	4.80	(5.75)	17.98
SGML	2.90	(0.33)	0.00	(0.26)	0.00	0.00	6.51	(7.67)	25.16
SLI	3.21	(0.01)	0.00	(0.09)	0.00	0.00	7.21	(5.93)	18.40
VALE	1.55	0.25	0.11	0.23	2.08	(1.59)	3.67	(2.94)	10.84
RIO	1.34	0.03	0.00	(0.04)	0.00	0.00	2.52	(2.45)	9.44
BHP	1.50	0.02	0.00	(0.06)	0.00	0.00	2.32	(2.85)	12.51
TECK	2.63	(0.17)	0.00	(0.16)	0.00	0.00	4.65	(6.05)	19.91
LAC	3.15	(0.09)	0.00	(0.13)	0.00	0.00	6.72	(6.99)	23.22
SYAXF	6.62	(0.09)	0.00	0.20	0.00	0.00	13.82	(13.33)	43.61

MP Materials Corporate Management

James JD	Pres Chairman	Profile
Andrew Mcknight	Independent Director	Profile
Sheila Bangalore	General Counsel and Chief Strategy Officer	Profile
Randall Weisenburger	Independent Director	Profile
David Infuso	Chief Officer	Profile
Elliot Hoops	General Counsel, Secretary	Profile

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