Essential Energy Correlations
| EEYUFDelisted Stock | USD 0.28 0.00 0.00% |
The current 90-days correlation between Essential Energy Services and Source Energy Services is 0.01 (i.e., Significant diversification). The correlation of Essential 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.
Essential Energy Correlation With Market
Significant diversification
The correlation between Essential Energy Services and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Essential Energy Services and DJI in the same portfolio, assuming nothing else is changed.
Essential |
The ability to find closely correlated positions to Essential 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 Essential 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 Essential 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 Essential Energy Services to buy it.
Moving together with Essential Pink Sheet
| 0.72 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.67 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.8 | HPQ | HP Inc | PairCorr |
| 0.79 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.72 | HD | Home Depot | PairCorr |
| 0.65 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.71 | WMT | Walmart Aggressive Push | PairCorr |
| 0.91 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.78 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.66 | DIS | Walt Disney Sell-off Trend | PairCorr |
Moving against Essential Pink Sheet
| 0.84 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.81 | EPGG | Empire Global Gaming | PairCorr |
| 0.76 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.65 | IMHC | Imperalis Holding Corp | PairCorr |
| 0.64 | TPDDF | Talon Energy | PairCorr |
| 0.62 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.36 | PG | Procter Gamble Sell-off Trend | PairCorr |
| 0.35 | GBHPF | Global Hemp Group | 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 Essential Pink Sheet performing well and Essential 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 Essential 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SCEYF | 1.52 | 0.46 | 0.00 | 0.47 | 0.00 | 6.44 | 21.80 | |||
| TOTZF | 1.16 | 0.23 | 0.08 | 1.14 | 1.04 | 2.62 | 6.65 | |||
| TOLWF | 1.62 | (0.09) | 0.00 | (6.48) | 0.00 | 3.48 | 9.32 | |||
| SNVVF | 1.47 | 0.20 | 0.04 | 0.36 | 1.60 | 1.39 | 44.50 | |||
| SAWLF | 1.60 | 0.77 | 0.29 | (3.06) | 1.26 | 4.01 | 13.81 | |||
| KLNG | 4.04 | 0.56 | 0.11 | 0.60 | 4.70 | 10.34 | 24.04 | |||
| TRRVF | 1.37 | 0.18 | 0.02 | 1.01 | 2.02 | 3.84 | 13.60 | |||
| ETOLF | 3.44 | 0.49 | 0.10 | 0.52 | 4.16 | 9.55 | 29.47 | |||
| PSYTF | 1.13 | (0.13) | 0.00 | (0.14) | 0.00 | 3.31 | 10.32 |
Essential 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 Essential Energy pink sheet to make a market-neutral strategy. Peer analysis of Essential Energy could also be used in its relative valuation, which is a method of valuing Essential Energy by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Essential Energy Services?
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