88 Energy Correlations

EEENF Stock

USD 0 0.0001 8.33%

The current 90-days correlation between 88 Energy Limited and Invictus Energy Limited is 0.01 (i.e., Significant diversification). The correlation of 88 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.

88 Energy Correlation With Market

Significant diversification

The correlation between 88 Energy Limited 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 88 Energy Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 88 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 88 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 88 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 88 Energy Limited to buy it.

Moving together with EEENF Pink Sheet

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0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.66	PPERY	Bank Mandiri Persero	Pair Corr
0.61	PBCRY	Bank Central Asia	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.65	INTC	Intel	Pair Corr

Moving against EEENF Pink Sheet

0.65	LGCY	Legacy Education	Pair Corr
0.48	V	Visa Class A	Pair Corr
0.41	BAMXF	Bayerische Motoren Werke	Pair Corr
0.33	CHKP	Check Point Software Earnings Call This Week	Pair Corr
0.67	LPTH	LightPath Technologies Earnings Call This Week	Pair Corr
0.51	GILT	Gilat Satellite Networks	Pair Corr
0.47	AXP	American Express	Pair Corr

Related Correlations Analysis

	IVCTF	SEUSF	JRNGF	TRLEF	MDMP	OILSF	MMEX	RZREF	VBHI
IVCTF		-0.09	0.3	-0.09	-0.04	0.29	0.07	0.0	0.25	IVCTF
SEUSF	-0.09		-0.2	0.19	-0.71	0.0	0.13	0.0	0.14	SEUSF
JRNGF	0.3	-0.2		0.48	0.18	0.88	-0.51	0.0	0.28	JRNGF
TRLEF	-0.09	0.19	0.48		-0.23	0.42	-0.35	0.0	0.21	TRLEF
MDMP	-0.04	-0.71	0.18	-0.23		-0.03	-0.28	0.0	-0.1	MDMP
OILSF	0.29	0.0	0.88	0.42	-0.03		-0.38	0.0	0.25	OILSF
MMEX	0.07	0.13	-0.51	-0.35	-0.28	-0.38		0.0	-0.17	MMEX
RZREF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	RZREF
VBHI	0.25	0.14	0.28	0.21	-0.1	0.25	-0.17	0.0		VBHI
	IVCTF	SEUSF	JRNGF	TRLEF	MDMP	OILSF	MMEX	RZREF	VBHI

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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

OILSF	+ 0.88	JRNGF
TRLEF	+ 0.48	JRNGF
OILSF	+ 0.42	TRLEF
JRNGF	+ 0.3	IVCTF
OILSF	+ 0.29	IVCTF
VBHI	+ 0.28	JRNGF

High negative correlations

MDMP	- 0.71	SEUSF
MMEX	- 0.51	JRNGF
MMEX	- 0.38	OILSF
MMEX	- 0.35	TRLEF
MMEX	- 0.28	MDMP
MDMP	- 0.23	TRLEF

Risk-Adjusted Indicators

There is a big difference between EEENF Pink Sheet performing well and 88 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 88 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
IVCTF	5.39	0.19	0.02	(0.77)	5.42	(9.08)	17.07	(9.86)	43.51
SEUSF	3.41	(0.55)	0.00	5.17	0.00	0.00	8.06	(5.66)	28.10
JRNGF	2.40	(0.26)	0.00	(0.50)	0.00	0.00	3.42	(5.41)	14.18
TRLEF	4.39	(0.51)	0.00	(2.56)	0.00	0.00	13.98	(11.17)	30.45
MDMP	8.76	0.59	0.06	0.20	9.29	(14.66)	22.22	(20.00)	49.49
OILSF	1.79	(0.18)	0.00	(0.76)	0.00	0.00	3.18	(3.31)	12.13
MMEX	8.88	2.65	0.00	(0.40)	0.00	0.00	0.00	0.00	150.00
RZREF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VBHI	11.55	0.23	0.02	0.11	12.53	(26.00)	25.00	(20.00)	83.33

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Our tools can tell you how much better you can do entering a position in 88 Energy 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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88 Energy Corporate Management

BBus CA	Company Sec	Profile
Robert Benkovic	Chief Officer	Profile
Oliver Mortensen	Chief Officer	Profile
Ashley Gilbert	MD Director	Profile
Elizabeth Pattillo	Geologist Mang	Profile

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