Civitas Resources Correlations
| CIVIW Stock | 0.13 0.02 18.18% |
The current 90-days correlation between Civitas Resources and Legacy Education is -0.32 (i.e., Very good diversification). The correlation of Civitas Resources 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Civitas Resources Correlation With Market
Significant diversification
The correlation between Civitas Resources and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Civitas Resources and DJI in the same portfolio, assuming nothing else is changed.
Civitas |
The ability to find closely correlated positions to Civitas Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Civitas Resources 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 Civitas Resources - 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 Civitas Resources to buy it.
Moving against Civitas OTC Stock
| 0.74 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.7 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.7 | WMT | Walmart Aggressive Push | PairCorr |
| 0.68 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.64 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.6 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.6 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.59 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.55 | HPQ | HP Inc | PairCorr |
| 0.55 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.49 | NVDA | NVIDIA | PairCorr |
| 0.41 | AAPL | Apple Inc Aggressive Push | PairCorr |
| 0.4 | HD | Home Depot | PairCorr |
| 0.4 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.39 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.32 | GOOG | Alphabet Class C | PairCorr |
| 0.31 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Civitas OTC Stock performing well and Civitas Resources OTC Stock 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 Civitas Resources' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LGCY | 3.63 | 1.51 | 0.34 | 2.83 | 3.10 | 10.85 | 21.63 | |||
| NVDA | 2.21 | (0.03) | 0.00 | 0.09 | 3.09 | 4.07 | 12.87 | |||
| AAPL | 0.90 | (0.02) | (0.06) | 0.08 | 1.24 | 1.84 | 6.62 | |||
| MSFT | 0.88 | (0.08) | (0.07) | 0.01 | 1.51 | 2.09 | 8.19 | |||
| AMZN | 1.43 | 0.07 | 0.05 | 0.18 | 1.54 | 2.77 | 10.38 | |||
| BMYMP | 1.49 | 0.42 | 0.00 | 1.99 | 0.00 | 3.84 | 21.01 | |||
| GOOG | 1.20 | (0.07) | (0.05) | 0.03 | 1.84 | 2.21 | 8.60 | |||
| META | 1.06 | 0.02 | (0.01) | 0.15 | 1.41 | 2.62 | 8.02 |
Civitas Resources 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 Civitas Resources otc stock to make a market-neutral strategy. Peer analysis of Civitas Resources could also be used in its relative valuation, which is a method of valuing Civitas Resources by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |