Challenger Energy Correlations

BSHPF Stock

USD 0.15 0.00 0.00%

The current 90-days correlation between Challenger Energy and Blue Star Helium is 0.48 (i.e., Very weak diversification). The correlation of Challenger Energy 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.

Challenger Energy Correlation With Market

Significant diversification

The correlation between Challenger Energy Group and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Challenger Energy Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Challenger Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Challenger Energy 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 Challenger Energy - 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 Challenger Energy Group to buy it.

Moving together with Challenger Pink Sheet

0.69

ARRXF

Archer Materials

Pair Corr

Moving against Challenger Pink Sheet

0.44	TAK	Takeda Pharmaceutical	Pair Corr
0.37	26442TAG2	US26442TAG22	Pair Corr
0.46	AVTBF	Avant Brands	Pair Corr

Related Correlations Analysis

	ARSLF	CGXEF	BSNLF	PRTDF	SNEGF	PBEGF	GXUSF	DMEHF	ORXGF	ECAOF
ARSLF		0.65	-0.14	-0.09	-0.78	0.88	-0.41	0.72	0.24	-0.48	ARSLF
CGXEF	0.65		0.01	0.32	-0.47	0.7	-0.6	0.84	-0.06	-0.75	CGXEF
BSNLF	-0.14	0.01		0.26	0.22	-0.17	-0.14	-0.08	-0.13	-0.08	BSNLF
PRTDF	-0.09	0.32	0.26		0.38	-0.07	-0.48	0.29	-0.56	-0.46	PRTDF
SNEGF	-0.78	-0.47	0.22	0.38		-0.77	0.31	-0.52	-0.42	0.32	SNEGF
PBEGF	0.88	0.7	-0.17	-0.07	-0.77		-0.41	0.77	0.31	-0.48	PBEGF
GXUSF	-0.41	-0.6	-0.14	-0.48	0.31	-0.41		-0.6	0.32	0.82	GXUSF
DMEHF	0.72	0.84	-0.08	0.29	-0.52	0.77	-0.6		-0.07	-0.68	DMEHF
ORXGF	0.24	-0.06	-0.13	-0.56	-0.42	0.31	0.32	-0.07		0.33	ORXGF
ECAOF	-0.48	-0.75	-0.08	-0.46	0.32	-0.48	0.82	-0.68	0.33		ECAOF
	ARSLF	CGXEF	BSNLF	PRTDF	SNEGF	PBEGF	GXUSF	DMEHF	ORXGF	ECAOF

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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

PBEGF	+ 0.88	ARSLF
DMEHF	+ 0.84	CGXEF
ECAOF	+ 0.82	GXUSF
DMEHF	+ 0.77	PBEGF
DMEHF	+ 0.72	ARSLF
PBEGF	+ 0.7	CGXEF

High negative correlations

SNEGF	- 0.78	ARSLF
PBEGF	- 0.77	SNEGF
ECAOF	- 0.75	CGXEF
ECAOF	- 0.68	DMEHF
DMEHF	- 0.6	GXUSF
GXUSF	- 0.6	CGXEF

Risk-Adjusted Indicators

There is a big difference between Challenger Pink Sheet performing well and Challenger Energy 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 Challenger Energy'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
ARSLF	6.47	(0.11)	0.00	0.24	0.00	0.00	12.20	(13.16)	66.19
CGXEF	3.88	(0.21)	0.00	(0.20)	0.00	0.00	10.78	(9.09)	22.50
BSNLF	58.26	25.49	0.47	33.05	21.25	(206.56)	85.19	(63.33)	843.63
PRTDF	6.64	1.55	0.00	(24.64)	0.00	0.00	25.00	(12.50)	116.67
SNEGF	7.44	3.06	0.00	0.58	0.00	0.00	0.00	0.00	170.64
PBEGF	4.04	(0.61)	0.00	0.85	0.00	0.00	11.11	(10.00)	40.00
GXUSF	1.39	0.65	0.00	0.87	0.00	0.00	0.00	0.00	33.33
DMEHF	4.90	0.09	0.00	0.04	0.00	0.00	11.11	(12.50)	32.47
ORXGF	2.33	(0.02)	0.00	0.12	0.00	0.00	6.25	(5.97)	48.70
ECAOF	6.16	2.22	0.19	(1.31)	3.90	(21.50)	25.00	(9.09)	70.99

Challenger Energy 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 Challenger Energy pink sheet to make a market-neutral strategy. Peer analysis of Challenger Energy could also be used in its relative valuation, which is a method of valuing Challenger Energy by comparing valuation metrics with similar companies.

Altima Resources CGX Energy Blue Star Helium Petro Matad Limited Sound Energy plc Touchstone Exploration Guardian Exploration Desert Mountain Energy Orca Energy Group Eco Oil Gas American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Challenger Energy Corporate Management

LLB BA	MD CEO	Profile
Bill Pearson	Standing Consultant	Profile
Parbodh Gogna	Regional Caribbean	Profile
Sohan OjahMaharaj	Country Tobago	Profile
Mike Middleton	Consultant	Profile
Gagan Khurana	Chief CFO	Profile
Jon Kirtpatrick	Standing Consultant	Profile

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