Here’s an AI answer, but always better to DYOR I guess..
” The correlation between the stock price of Lynas Rare Earths Limited (LYC) and the BetaShares S&P/ASX 200 Resources Sector ETF (QRE) is relatively high, as LYC is a significant constituent of the resources sector in Australia.
Here are some historical correlation statistics (based on daily returns) between LYC and QRE:- 1-year correlation: 0.75-0.85 (strong positive correlation)- 2-year correlation: 0.70-0.80 (strong positive correlation)- 3-year correlation: 0.6t5-0.75 (positive correlation)
Please note that correlation coefficients range from -1 (perfect negative correlation) to 1 (perfect positive correlation). A correlation coefficient of 0 indicates no linear relationship between the two assets.The high correlation between LYC and QRE suggests that the price movements of LYC are closely tied to the overall performance of the resources sector in Australia, which is represented by the QRE ETF. However, please keep in mind that past correlations do not guarantee future relationships, and the correlation can change over time.”
LYC Price at posting:
$6.02 Sentiment: Hold Disclosure: Held
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