Piedmont Lithium Correlations

PLL Stock

USD 8.71 0.03 0.34%

The current 90-days correlation between Piedmont Lithium and Standard Lithium is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Piedmont Lithium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Piedmont Lithium Ltd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Piedmont Lithium Correlation With Market

Good diversification

The correlation between Piedmont Lithium Ltd and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Piedmont Lithium Ltd and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Piedmont Lithium Ltd. 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.

Moving together with Piedmont Stock

0.63	LAC	Lithium Americas Corp	Pair Corr
0.65	LGO	Largo Resources	Pair Corr
0.66	SLI	Standard Lithium	Pair Corr
0.71	LAAC	Lithium Americas Corp	Pair Corr

Moving against Piedmont Stock

0.6	BYU	BAIYU Holdings	Pair Corr
0.33	XPL	Solitario Exploration	Pair Corr
0.31	FMST	Foremost Lithium Resource	Pair Corr
0.64	ERLFF	Entree Resources	Pair Corr
0.49	CRMLW	Critical Metals Corp	Pair Corr
0.34	KNBWY	Kirin Holdings	Pair Corr

Related Correlations Analysis

	SGML	SLI	MP	VALE	LAC	NB	TECK	AMLI	APHLF	JORFF
SGML		0.68	0.37	0.34	0.51	0.15	0.33	0.79	0.05	0.3	SGML
SLI	0.68		0.23	0.39	0.49	0.26	0.3	0.79	0.01	0.31	SLI
MP	0.37	0.23		-0.31	0.73	-0.37	-0.23	0.35	0.62	-0.26	MP
VALE	0.34	0.39	-0.31		-0.33	0.73	0.93	0.33	-0.77	0.45	VALE
LAC	0.51	0.49	0.73	-0.33		-0.46	-0.38	0.43	0.77	-0.19	LAC
NB	0.15	0.26	-0.37	0.73	-0.46		0.67	0.19	-0.74	0.44	NB
TECK	0.33	0.3	-0.23	0.93	-0.38	0.67		0.35	-0.77	0.49	TECK
AMLI	0.79	0.79	0.35	0.33	0.43	0.19	0.35		0.03	0.45	AMLI
APHLF	0.05	0.01	0.62	-0.77	0.77	-0.74	-0.77	0.03		-0.49	APHLF
JORFF	0.3	0.31	-0.26	0.45	-0.19	0.44	0.49	0.45	-0.49		JORFF
	SGML	SLI	MP	VALE	LAC	NB	TECK	AMLI	APHLF	JORFF

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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

TECK	+ 0.93	VALE
AMLI	+ 0.79	SGML
AMLI	+ 0.79	SLI
APHLF	+ 0.77	LAC
LAC	+ 0.73	MP
NB	+ 0.73	VALE

High negative correlations

APHLF	- 0.77	TECK
APHLF	- 0.77	VALE
APHLF	- 0.74	NB
JORFF	- 0.49	APHLF
NB	- 0.46	LAC
TECK	- 0.38	LAC

Risk-Adjusted Indicators

There is a big difference between Piedmont Stock performing well and Piedmont 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 Piedmont 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
SGML	2.94	(0.01)	0.00	0.01	3.09	(3.61)	6.80	(4.78)	17.73
SLI	4.96	0.40	0.07	0.42	5.10	(6.27)	12.69	(8.93)	35.90
MP	2.97	0.19	0.06	0.12	3.38	(3.21)	7.34	(4.78)	21.37
VALE	1.53	(0.27)	0.00	(0.71)	0.00	0.00	3.83	(3.52)	11.89
LAC	4.41	0.43	0.11	0.28	3.85	(5.86)	10.63	(6.39)	32.09
NB	3.83	(0.17)	0.00	1.16	0.00	0.00	13.33	(8.14)	28.43
TECK	1.69	(0.28)	0.00	(0.26)	0.00	0.00	3.97	(4.63)	11.11
AMLI	6.34	0.36	0.04	0.18	7.79	(8.78)	17.72	(8.93)	71.63
APHLF	2.09	0.72	0.29	(1.46)	1.53	(3.17)	7.53	(2.78)	23.05
JORFF	11.20	1.21	0.07	0.20	13.02	(18.96)	28.32	(27.59)	166.83

Piedmont Lithium Corporate Management

Nick Fouche	Senior Projects	Profile
Krishna McVey	Executive Officer	Profile
Kris McVey	Sr Officer	Profile
Austin Devaney	Executive Officer	Profile
Lamont Leatherman	Chief Geologist	Profile

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