ATLX vs LZM: Correlation
How closely do Atlas Lithium Corporation (ATLX) and Lifezone Metals Limited (LZM) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATLX and LZM?
Across a 3-year window, the weekly returns of ATLX and LZM correlate at 0.40, moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.40). Stretching to 5 years gives 0.24, with an annualized covariance of 2572.5 %².
Within ATLX's tracked universe of 13 assets, LZM comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LZM outperformed by 34.1 percentage points (-37.4% for ATLX against -3.3% for LZM).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ATLX vs LZM: side by side
| ATLX (Atlas Lithium Corporation) | LZM (Lifezone Metals Limited) | |
|---|---|---|
| 1-year return | -37.4% | -3.3% |
| 5-year return | -55.9% | -55.4% |
| Volatility (ann.) | 79.3% | 81.7% |
| Beta vs S&P 500 | 1.64 | 1.75 |
| Max drawdown (3Y) | -92.3% | -82.0% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATLX | LZM |
|---|---|---|
| 2022 | +16.7% | +4.7% |
| 2023 | +346.9% | -12.9% |
| 2024 | -79.8% | -23.1% |
| 2025 | -33.2% | -38.6% |
| 2026 | -21.9% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATLX and LZM good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ATLX and LZM?
As of 2026-08-27, the correlation of weekly returns between ATLX and LZM is 0.40 over 3 years, 0.69 over 1 year and 0.24 over 5 years.
Is LZM a good diversifier for ATLX?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atlx-vs-lzm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/atlx-vs-lzm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATLX correlations · LZM correlations
