Africa Oil Correlations

AOIFF Stock

USD 1.48 0.02 1.37%

The current 90-days correlation between Africa Oil Corp and Tamarack Valley Energy is 0.5 (i.e., Very weak diversification). The correlation of Africa Oil is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Africa Oil Correlation With Market

Significant diversification

The correlation between Africa Oil Corp and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Africa Oil Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Africa Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Africa Oil when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Africa Oil - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Africa Oil Corp to buy it.

Moving against Africa Pink Sheet

0.49	HD	Home Depot	Pair Corr
0.44	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.41	BAC-PL	Bank of America	Pair Corr
0.4	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.37	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.36	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.34	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.33	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.31	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	GENGF	TNEYF	MEGEF	CRLFF	SPGYF	CEIEF	MEOAF	IVCTF	CIVII
GENGF		-0.37	0.39	0.67	0.15	0.87	0.0	0.73	-0.56	GENGF
TNEYF	-0.37		0.41	-0.02	0.4	-0.41	0.0	-0.31	0.07	TNEYF
MEGEF	0.39	0.41		0.7	0.84	0.28	0.0	0.41	-0.16	MEGEF
CRLFF	0.67	-0.02	0.7		0.4	0.61	0.0	0.55	-0.57	CRLFF
SPGYF	0.15	0.4	0.84	0.4		-0.02	0.0	0.2	0.3	SPGYF
CEIEF	0.87	-0.41	0.28	0.61	-0.02		0.0	0.64	-0.57	CEIEF
MEOAF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MEOAF
IVCTF	0.73	-0.31	0.41	0.55	0.2	0.64	0.0		-0.36	IVCTF
CIVII	-0.56	0.07	-0.16	-0.57	0.3	-0.57	0.0	-0.36		CIVII
	GENGF	TNEYF	MEGEF	CRLFF	SPGYF	CEIEF	MEOAF	IVCTF	CIVII

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CEIEF	+ 0.87	GENGF
SPGYF	+ 0.84	MEGEF
IVCTF	+ 0.73	GENGF
CRLFF	+ 0.7	MEGEF
CRLFF	+ 0.67	GENGF
IVCTF	+ 0.64	CEIEF

High negative correlations

CIVII	- 0.57	CEIEF
CIVII	- 0.57	CRLFF
CIVII	- 0.56	GENGF
CEIEF	- 0.41	TNEYF
TNEYF	- 0.37	GENGF
CIVII	- 0.36	IVCTF

Risk-Adjusted Indicators

There is a big difference between Africa Pink Sheet performing well and Africa Oil Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Africa Oil's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GENGF	1.71	(0.32)	0.00	(2.65)	0.00	0.00	2.70	(4.65)	11.28
TNEYF	1.83	0.16	0.04	0.47	2.20	(1.94)	3.81	(3.33)	10.79
MEGEF	1.74	(0.11)	0.00	(0.09)	0.00	0.00	3.98	(3.96)	8.90
CRLFF	1.09	(0.06)	0.00	(0.09)	0.00	0.00	2.00	(2.34)	5.48
SPGYF	1.38	0.02	(0.03)	0.17	1.92	(1.31)	2.25	(3.43)	8.34
CEIEF	1.05	(0.29)	0.00	(2.01)	0.00	0.00	2.00	(3.45)	10.92
MEOAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IVCTF	4.06	(0.16)	0.00	(0.11)	0.00	0.00	14.29	(9.86)	30.43
CIVII	17.19	7.78	0.00	3.29	0.00	0.00	0.00	0.00	573.73

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Our tools can tell you how much better you can do entering a position in Africa Oil without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Africa Oil Corporate Management

Paul Martinez	VP of Exploration	Profile
Kevin Hisko	Co Sec	Profile
Kylie Litchfield	Group Controller	Profile
Bryan Benitz	Consultant	Profile
Pascal Nicodeme	Chief Officer	Profile
Craig Knight	Chief Officer	Profile
Rashida McLean	Corp Sec	Profile

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