East West Correlations

EWPMF Stock

USD 0.03 0.01 50.00%

The current 90-days correlation between East West Petroleum and Valeura Energy is -0.14 (i.e., Good diversification). The correlation of East West 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.

East West Correlation With Market

Good diversification

The correlation between East West Petroleum and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding East West Petroleum and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against East Pink Sheet

0.48	GTOR	Ggtoor Inc	Pair Corr
0.47	MAR	Marriott International	Pair Corr
0.46	YPF	YPF Sociedad Anonima	Pair Corr
0.46	PETS	PetMed Express	Pair Corr
0.45	MSB	Mesabi Trust	Pair Corr
0.45	FNMFO	Federal National Mortgage	Pair Corr
0.44	SAPMF	Saipem SpA	Pair Corr
0.43	EVGR	Evergreen Corp	Pair Corr
0.41	NBIX	Neurocrine Biosciences	Pair Corr
0.4	NETDU	Nabors Energy Transition	Pair Corr
0.38	TGTX	TG Therapeutics	Pair Corr
0.33	RELY	Remitly Global	Pair Corr
0.56	AS	Amer Sports,	Pair Corr
0.52	OBYCF	Obayashi	Pair Corr
0.52	YELP	Yelp Inc	Pair Corr
0.49	PWOD	Penns Woods Bancorp	Pair Corr
0.49	CNOBP	ConnectOne Bancorp	Pair Corr
0.47	M	Macys Inc	Pair Corr
0.45	DMRC	Digimarc	Pair Corr
0.44	GLPPRB	Global Partners LP	Pair Corr
0.41	ZWS	Zurn Elkay Water	Pair Corr
0.41	GIFI	Gulf Island Fabrication	Pair Corr
0.4	HUT	Hut 8 Corp Upward Rally	Pair Corr
0.4	XMTR	Xometry	Pair Corr
0.38	784730AB9	US784730AB94	Pair Corr

Related Correlations Analysis

	VLERF	IVCTF	CNOBP	RCMT	BLK	FRCOF	AGLDF	OBYCF
VLERF		-0.65	0.87	0.62	0.8	-0.08	-0.34	0.83	VLERF
IVCTF	-0.65		-0.62	-0.57	-0.67	0.21	0.3	-0.58	IVCTF
CNOBP	0.87	-0.62		0.61	0.81	-0.05	-0.31	0.87	CNOBP
RCMT	0.62	-0.57	0.61		0.76	-0.05	-0.45	0.51	RCMT
BLK	0.8	-0.67	0.81	0.76		0.02	-0.57	0.65	BLK
FRCOF	-0.08	0.21	-0.05	-0.05	0.02		-0.3	-0.12	FRCOF
AGLDF	-0.34	0.3	-0.31	-0.45	-0.57	-0.3		-0.22	AGLDF
OBYCF	0.83	-0.58	0.87	0.51	0.65	-0.12	-0.22		OBYCF
	VLERF	IVCTF	CNOBP	RCMT	BLK	FRCOF	AGLDF	OBYCF

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

CNOBP	+ 0.87	VLERF
OBYCF	+ 0.87	CNOBP
OBYCF	+ 0.83	VLERF
BLK	+ 0.81	CNOBP
BLK	+ 0.8	VLERF
BLK	+ 0.76	RCMT

High negative correlations

BLK	- 0.67	IVCTF
IVCTF	- 0.65	VLERF
CNOBP	- 0.62	IVCTF
OBYCF	- 0.58	IVCTF
AGLDF	- 0.57	BLK
RCMT	- 0.57	IVCTF

Risk-Adjusted Indicators

There is a big difference between East Pink Sheet performing well and East West 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 East West'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
VLERF	2.97	0.56	0.16	1.90	2.99	(3.63)	6.33	(5.36)	21.15
IVCTF	4.63	0.10	0.02	0.13	5.24	(6.79)	14.29	(9.86)	36.90
CNOBP	0.68	0.10	0.07	0.27	0.81	(0.82)	1.75	(1.61)	5.84
RCMT	1.59	0.10	0.05	0.13	2.18	(1.79)	3.43	(3.34)	12.78
BLK	0.84	0.16	0.14	0.26	0.81	(0.93)	1.85	(1.63)	6.38
FRCOF	0.93	0.18	0.00	(0.96)	0.00	0.00	2.65	(0.98)	23.45
AGLDF	15.04	2.43	0.07	0.44	16.11	(43.80)	54.35	(41.86)	165.63
OBYCF	0.79	0.27	0.00	0.85	0.00	0.00	0.00	0.00	23.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in East West 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.

Did you try this?

Run Global Markets Map Now

Global Markets Map

Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC