LAR vs SGML: Correlation
How closely do Lithium Argentina AG (LAR) and Sigma Lithium Corporation (SGML) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAR and SGML?
On 3 years of weekly data the LAR/SGML correlation comes out at 0.65, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 4291.0 %².
SGML is one of the assets that tracks LAR most closely: it ranks #3 out of the 16 assets we track against LAR. Their recent paths diverged sharply: over the last 12 months LAR outperformed by 26.0 percentage points (+113.9% for LAR against +87.9% for SGML).
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.
LAR vs SGML: side by side
| LAR (Lithium Argentina AG) | SGML (Sigma Lithium Corporation) | |
|---|---|---|
| 1-year return | +113.9% | +87.9% |
| 5-year return | -12.4% | +69.8% |
| Volatility (ann.) | 67.6% | 97.8% |
| Beta vs S&P 500 | 1.61 | 1.89 |
| Max drawdown (3Y) | -79.6% | -88.9% |
| Market cap | $1.1B | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LAR | SGML |
|---|---|---|
| 2022 | -34.9% | +171.1% |
| 2023 | -17.2% | +11.7% |
| 2024 | -58.5% | -64.4% |
| 2025 | +113.0% | +17.6% |
| 2026 | +23.8% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAR and SGML good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LAR and SGML?
The LAR/SGML correlation stands at 0.65 on a 3-year window (1 year: 0.67, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is SGML a good diversifier for LAR?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: LAR correlations · SGML correlations
