LAKE RESOURCES Correlations

LLKKF
 Stock
  

USD 0.63  0.04  5.97%   

The correlation of LAKE RESOURCES is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as LAKE RESOURCES moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LAKE RESOURCES NL moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Additionally, see Correlation Analysis.
  
The ability to find closely correlated positions to LAKE RESOURCES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LAKE RESOURCES when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back LAKE RESOURCES - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling LAKE RESOURCES NL to buy it.

Moving together with LAKE RESOURCES

+0.75KYNKayne Anderson MLPPairCorr
+0.68TTPTortoise Pipeline EnergyPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
JPMT
XOMMRK
JPMA
JPMTWTR
XOMJPM
MRKJPM
  
High negative correlations   
MRKMSFT
XOMMSFT
MSFTTWTR
MRKUBER
CRMTWTR
JPMMSFT

LAKE RESOURCES Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between LLKKF OTC Stock performing well and LAKE RESOURCES company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze LAKE RESOURCES's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 1.73  0.49  0.19  3.16  1.73  0.13 (1.84)  3.56 (2.97)  27.10 
MSFT 1.76 (0.23)  0.00 (0.10)  0.00 (0.08)  0.00  3.76 (3.86)  11.64 
UBER 2.77 (0.02)  0.00  0.05  3.29 (0.0026) (3.22)  8.60 (5.58)  19.67 
F 2.00 (0.17)  0.00 (0.05)  0.00 (0.0487)  0.00  2.75 (5.14)  14.93 
T 1.24  0.07  0.04  0.15  1.22  0.0344 (1.41)  2.54 (2.11)  9.13 
A 1.72  0.18  0.11  0.20  1.74  0.09 (2.03)  3.98 (3.59)  9.04 
CRM 2.27 (0.30)  0.00 (0.15)  0.00 (0.1)  0.00  3.63 (4.48)  14.31 
JPM 1.51  0.20  0.13  0.24  1.34  0.11 (1.63)  4.20 (2.88)  7.57 
MRK 1.07  0.25  0.17  0.58  1.04  0.16 (1.23)  2.44 (1.75)  7.38 
XOM 1.62  0.18  0.08  0.26  1.82  0.08 (1.72)  3.65 (2.91)  9.75 

Be your own money manager

Our tools can tell you how much better you can do entering a position in LAKE RESOURCES without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Invested in LAKE RESOURCES NL?

The danger of trading LAKE RESOURCES NL is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of LAKE RESOURCES is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than LAKE RESOURCES. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile LAKE RESOURCES NL is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Additionally, see Correlation Analysis. You can also try Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

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When running LAKE RESOURCES NL price analysis, check to measure LAKE RESOURCES's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy LAKE RESOURCES is operating at the current time. Most of LAKE RESOURCES's value examination focuses on studying past and present price action to predict the probability of LAKE RESOURCES's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move LAKE RESOURCES's price. Additionally, you may evaluate how the addition of LAKE RESOURCES to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between LAKE RESOURCES's value and its price as these two are different measures arrived at by different means. Investors typically determine LAKE RESOURCES value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, LAKE RESOURCES's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.