LZM vs REAL: Correlation
Lifezone Metals Limited (LZM) and The RealReal, Inc. (REAL) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LZM and REAL?
Over the past 3 years, LZM and REAL moved with a correlation of 0.46, which is moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 3347.1 %².
Few assets follow LZM as closely as REAL, which ranks #1 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months REAL outperformed by 46.8 percentage points (-3.3% for LZM against +43.5% for REAL).
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.
LZM vs REAL: side by side
| LZM (Lifezone Metals Limited) | REAL (The RealReal, Inc.) | |
|---|---|---|
| 1-year return | -3.3% | +43.5% |
| 5-year return | -55.4% | -17.2% |
| Volatility (ann.) | 81.7% | 88.9% |
| Beta vs S&P 500 | 1.75 | 2.33 |
| Max drawdown (3Y) | -82.0% | -57.2% |
| Market cap | $0.4B | $1.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LZM | REAL |
|---|---|---|
| 2022 | +4.7% | -89.2% |
| 2023 | -12.9% | +60.8% |
| 2024 | -23.1% | +443.8% |
| 2025 | -38.6% | +44.4% |
| 2026 | +3.0% | -30.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LZM and REAL good diversifiers for each other?
Reasonably. At 0.46, LZM and REAL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LZM and REAL?
The LZM/REAL correlation stands at 0.46 on a 3-year window (1 year: 0.50, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is REAL a good diversifier for LZM?
Reasonably. At 0.46, LZM and REAL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lzm-vs-real.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lzm-vs-real/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LZM correlations · REAL correlations
