PLMR vs SLI: Correlation
How closely do Palomar Holdings, Inc. (PLMR) and Standard Lithium Ltd. (SLI) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLMR and SLI?
Across a 3-year window, the weekly returns of PLMR and SLI correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.19 over 3. Stretching to 5 years gives 0.11, with an annualized covariance of -517.3 %².
Among the 15 assets we track against PLMR, SLI ranks #9 by 3-year correlation. The last year tells two different stories: PLMR led by 15.8 percentage points, +5.0% for PLMR against -10.8% for SLI. Risk is not evenly split, since SLI carries 2.1 times the volatility of the other side.
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.
PLMR vs SLI: side by side
| PLMR (Palomar Holdings, Inc.) | SLI (Standard Lithium Ltd.) | |
|---|---|---|
| 1-year return | +5.0% | -10.8% |
| 5-year return | +44.4% | -51.8% |
| Volatility (ann.) | 35.9% | 77.0% |
| Beta vs S&P 500 | 0.34 | 1.21 |
| Max drawdown (3Y) | -42.3% | -69.9% |
| Market cap | $3.4B | $0.7B |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PLMR | SLI |
|---|---|---|
| 2022 | -30.3% | -69.9% |
| 2023 | +22.9% | -31.5% |
| 2024 | +90.3% | -27.7% |
| 2025 | +27.6% | +206.2% |
| 2026 | -3.5% | -40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLMR and SLI good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PLMR and SLI?
As of 2026-08-27, the correlation of weekly returns between PLMR and SLI is -0.19 over 3 years, -0.21 over 1 year and 0.11 over 5 years.
Is SLI a good diversifier for PLMR?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
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Related comparisons
Hubs: PLMR correlations · SLI correlations
