Beyond Oil Correlations

BEOLF Stock

2.37 0.02 0.85%

The current 90-days correlation between Beyond Oil and Rivian Automotive is 0.04 (i.e., Significant diversification). The correlation of Beyond 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.

Beyond Oil Correlation With Market

Very good diversification

The correlation between Beyond Oil and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Oil and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Beyond 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 Beyond 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 Beyond 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 Beyond Oil to buy it.

Moving against Beyond Pink Sheet

0.55	TRTN-PC	Triton International	Pair Corr
0.52	META	Meta Platforms Aggressive Push	Pair Corr
0.51	TSEM	Tower Semiconductor	Pair Corr
0.51	BIRDF	Bird Construction	Pair Corr
0.48	MYCOF	Mydecine Innovations	Pair Corr
0.39	CDIX	Cardiff Lexington Corp	Pair Corr
0.34	GOOG	Alphabet Class C	Pair Corr
0.34	BHPLF	BHP Group Limited	Pair Corr
0.6	KEY	KeyCorp	Pair Corr
0.49	PXMFF	Philex Mining	Pair Corr
0.47	HFBA	HFB Financial Corp	Pair Corr
0.47	EG	Everest Group	Pair Corr
0.44	TEXG	Terax Energy	Pair Corr
0.4	ESLT	Elbit Systems	Pair Corr
0.32	BBWI	Bath Body Works Earnings Call This Week	Pair Corr
0.32	KOF	Coca Cola Femsa	Pair Corr
0.31	KRUS	Kura Sushi USA	Pair Corr

Related Correlations Analysis

	XPEV	LI	PHM	HMC	ULTA	WSM	NIO	STLA	RIVN
XPEV		-0.24	-0.52	-0.44	-0.52	-0.58	0.36	0.51	0.52	XPEV
LI	-0.24		0.48	0.08	-0.04	0.0	0.52	-0.54	-0.41	LI
PHM	-0.52	0.48		0.63	0.62	0.7	-0.18	-0.72	-0.54	PHM
HMC	-0.44	0.08	0.63		0.58	0.68	-0.3	-0.46	-0.32	HMC
ULTA	-0.52	-0.04	0.62	0.58		0.92	-0.6	-0.61	-0.24	ULTA
WSM	-0.58	0.0	0.7	0.68	0.92		-0.59	-0.73	-0.46	WSM
NIO	0.36	0.52	-0.18	-0.3	-0.6	-0.59		0.01	0.03	NIO
STLA	0.51	-0.54	-0.72	-0.46	-0.61	-0.73	0.01		0.64	STLA
RIVN	0.52	-0.41	-0.54	-0.32	-0.24	-0.46	0.03	0.64		RIVN
	XPEV	LI	PHM	HMC	ULTA	WSM	NIO	STLA	RIVN

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

WSM	+ 0.92	ULTA
WSM	+ 0.7	PHM
WSM	+ 0.68	HMC
RIVN	+ 0.64	STLA
HMC	+ 0.63	PHM
ULTA	+ 0.62	PHM

High negative correlations

STLA	- 0.73	WSM
STLA	- 0.72	PHM
STLA	- 0.61	ULTA
NIO	- 0.6	ULTA
NIO	- 0.59	WSM
WSM	- 0.58	XPEV

Risk-Adjusted Indicators

There is a big difference between Beyond Pink Sheet performing well and Beyond 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 Beyond 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
XPEV	2.46	(0.23)	0.00	(0.19)	0.00	0.00	6.18	(4.02)	16.73
LI	1.65	0.06	(0.03)	(0.25)	1.97	(1.71)	3.54	(3.18)	9.90
PHM	1.67	0.13	0.10	0.21	1.40	(2.17)	5.00	(2.19)	11.80
HMC	1.24	(0.04)	(0.02)	0.08	1.26	(1.51)	3.40	(2.05)	7.85
ULTA	1.48	0.46	0.28	0.94	1.11	(1.82)	3.00	(2.32)	16.26
WSM	1.73	0.12	0.10	0.18	1.72	(1.83)	3.85	(2.66)	11.23
NIO	2.30	(0.10)	0.00	(0.17)	0.00	0.00	4.59	(4.77)	11.98
STLA	2.37	(0.11)	0.00	0.67	0.00	0.00	4.66	(4.21)	30.62
RIVN	3.11	0.06	0.03	0.16	2.89	(4.49)	10.70	(5.22)	33.75

Beyond Oil Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Beyond Oil pink sheet to make a market-neutral strategy. Peer analysis of Beyond Oil could also be used in its relative valuation, which is a method of valuing Beyond Oil by comparing valuation metrics with similar companies.

Xpeng Inc Li Auto PulteGroup Honda Motor Co Ulta Beauty Williams Sonoma Nio Class A Stellantis NV Rivian Automotive American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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