Enterra Correlations

ETER Stock

USD 0.02 0.0007 3.04%

The current 90-days correlation between Enterra and Oracle Commodity Holding is 0.28 (i.e., Modest diversification). The correlation of Enterra 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.

Enterra Correlation With Market

Very good diversification

The correlation between Enterra and DJI is -0.34 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enterra and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Enterra Pink Sheet

0.69

HPQ

HP Inc

Pair Corr

Moving against Enterra Pink Sheet

0.59	ABEV	Ambev SA ADR Earnings Call This Week	Pair Corr
0.54	BA	Boeing	Pair Corr
0.47	GE	GE Aerospace	Pair Corr
0.44	LION	Lionsgate Studios Holding	Pair Corr
0.63	CVX	Chevron Corp	Pair Corr
0.55	PG	Procter Gamble	Pair Corr
0.47	AA	Alcoa Corp	Pair Corr
0.45	HD	Home Depot	Pair Corr
0.45	MRK	Merck Company Aggressive Push	Pair Corr
0.43	INTC	Intel Aggressive Push	Pair Corr
0.41	JNJ	Johnson Johnson	Pair Corr
0.37	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	SITS	NRCD	SHGI	QUAN	CSTXF	SOLCF	SMEV	SSPLF	ORLCF
SITS		0.54	0.3	0.63	0.36	0.63	-0.48	-0.52	-0.53	SITS
NRCD	0.54		0.29	0.86	0.73	0.89	-0.35	-0.55	-0.4	NRCD
SHGI	0.3	0.29		0.38	0.11	0.31	-0.24	-0.41	-0.36	SHGI
QUAN	0.63	0.86	0.38		0.73	0.9	-0.39	-0.73	-0.52	QUAN
CSTXF	0.36	0.73	0.11	0.73		0.74	-0.41	-0.32	-0.24	CSTXF
SOLCF	0.63	0.89	0.31	0.9	0.74		-0.41	-0.66	-0.48	SOLCF
SMEV	-0.48	-0.35	-0.24	-0.39	-0.41	-0.41		0.12	0.39	SMEV
SSPLF	-0.52	-0.55	-0.41	-0.73	-0.32	-0.66	0.12		0.63	SSPLF
ORLCF	-0.53	-0.4	-0.36	-0.52	-0.24	-0.48	0.39	0.63		ORLCF
	SITS	NRCD	SHGI	QUAN	CSTXF	SOLCF	SMEV	SSPLF	ORLCF

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

SOLCF	+ 0.9	QUAN
SOLCF	+ 0.89	NRCD
QUAN	+ 0.86	NRCD
SOLCF	+ 0.74	CSTXF
CSTXF	+ 0.73	NRCD
CSTXF	+ 0.73	QUAN

High negative correlations

SSPLF	- 0.73	QUAN
SSPLF	- 0.66	SOLCF
SSPLF	- 0.55	NRCD
ORLCF	- 0.53	SITS
ORLCF	- 0.52	QUAN
SSPLF	- 0.52	SITS

Risk-Adjusted Indicators

There is a big difference between Enterra Pink Sheet performing well and Enterra 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 Enterra'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
SITS	5.76	(0.22)	0.00	(0.09)	0.00	0.00	18.33	(11.89)	37.53
NRCD	0.40	(0.24)	0.00	(0.72)	0.00	0.00	0.00	0.00	13.46
SHGI	14.63	2.42	0.06	3.59	16.39	(50.75)	85.71	(46.15)	135.71
QUAN	6.49	(1.01)	0.00	(0.58)	0.00	0.00	12.88	(16.22)	40.44
CSTXF	9.31	0.21	0.00	0.00	12.58	(23.63)	36.00	(27.45)	113.57
SOLCF	10.20	(1.25)	0.00	2.76	0.00	0.00	23.50	(23.53)	66.07
SMEV	2.76	0.13	0.01	0.59	5.39	(10.26)	12.00	(5.41)	37.31
SSPLF	8.67	3.08	0.00	0.71	0.00	0.00	35.59	0.00	153.62
ORLCF	5.84	0.29	0.03	1.15	6.98	(6.74)	13.04	(11.85)	33.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in Enterra 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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