LSAK vs SLI: Correlation
How closely do Lesaka Technologies, Inc. (LSAK) and Standard Lithium Ltd. (SLI) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LSAK and SLI?
Across a 3-year window, the weekly returns of LSAK and SLI correlate at 0.24, weak. The link has loosened recently: the 1-year correlation (0.09) runs below the 3-year figure (0.24). Stretching to 5 years gives 0.25, with an annualized covariance of 573.6 %².
Among the 15 assets we track against LSAK, SLI ranks #4 by 3-year correlation. The trailing year gives LSAK the advantage: -3.8% versus -10.8%, a 7.0-point spread. One caveat on sizing: SLI is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LSAK vs SLI: side by side
| LSAK (Lesaka Technologies, Inc.) | SLI (Standard Lithium Ltd.) | |
|---|---|---|
| 1-year return | -3.8% | -10.8% |
| 5-year return | +6.3% | -51.8% |
| Volatility (ann.) | 31.0% | 77.0% |
| Beta vs S&P 500 | 0.20 | 1.21 |
| Max drawdown (3Y) | -33.2% | -69.9% |
| Market cap | $0.4B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LSAK | SLI |
|---|---|---|
| 2022 | -14.5% | -69.9% |
| 2023 | -28.8% | -31.5% |
| 2024 | +68.2% | -27.7% |
| 2025 | -12.5% | +206.2% |
| 2026 | -4.4% | -40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LSAK and SLI good diversifiers for each other?
Reasonably. At 0.24, LSAK and SLI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LSAK and SLI?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.09 over the last year and 0.25 over 5 years.
Is SLI a good diversifier for LSAK?
Reasonably. At 0.24, LSAK and SLI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: LSAK correlations · SLI correlations
