New Concept Correlations

GBR Stock

USD 1.16 0.02 1.69%

The correlation of New Concept 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.

New Concept Correlation With Market

Average diversification

The correlation between New Concept Energy and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Concept Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in New Concept Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving against New Stock

0.55

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Pair Corr

Related Correlations Analysis

	MMI	CPTP	MAYS	FRPH	MLP	HYSNY	WETH	MBHCF	AANNF	ACNDF
MMI		-0.14	-0.28	0.81	0.85	0.69	-0.04	0.0	0.33	-0.01	MMI
CPTP	-0.14		-0.22	0.15	-0.34	-0.5	-0.1	0.0	-0.71	-0.52	CPTP
MAYS	-0.28	-0.22		-0.27	-0.25	-0.19	-0.15	0.0	0.2	0.04	MAYS
FRPH	0.81	0.15	-0.27		0.56	0.29	0.05	0.0	0.04	-0.31	FRPH
MLP	0.85	-0.34	-0.25	0.56		0.73	0.01	0.0	0.47	0.15	MLP
HYSNY	0.69	-0.5	-0.19	0.29	0.73		0.09	0.0	0.49	0.47	HYSNY
WETH	-0.04	-0.1	-0.15	0.05	0.01	0.09		0.0	0.0	0.21	WETH
MBHCF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MBHCF
AANNF	0.33	-0.71	0.2	0.04	0.47	0.49	0.0	0.0		0.4	AANNF
ACNDF	-0.01	-0.52	0.04	-0.31	0.15	0.47	0.21	0.0	0.4		ACNDF
	MMI	CPTP	MAYS	FRPH	MLP	HYSNY	WETH	MBHCF	AANNF	ACNDF

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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

MLP	+ 0.85	MMI
FRPH	+ 0.81	MMI
HYSNY	+ 0.73	MLP
HYSNY	+ 0.69	MMI
MLP	+ 0.56	FRPH
AANNF	+ 0.49	HYSNY

High negative correlations

AANNF	- 0.71	CPTP
ACNDF	- 0.52	CPTP
HYSNY	- 0.5	CPTP
MLP	- 0.34	CPTP
ACNDF	- 0.31	FRPH
MAYS	- 0.28	MMI

Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New Concept 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 New Concept'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
MMI	1.39	(0.10)	0.00	(0.01)	0.00	0.00	3.11	(2.69)	9.45
CPTP	1.33	0.28	0.05	(23.91)	1.49	(3.95)	5.71	(2.18)	14.45
MAYS	0.90	(0.16)	0.00	(0.75)	0.00	0.00	1.20	(3.36)	11.71
FRPH	1.01	0.02	(0.02)	0.13	1.22	(1.08)	2.19	(1.81)	6.44
MLP	1.89	(0.07)	(0.05)	(0.01)	2.10	(2.15)	4.27	(3.14)	20.43
HYSNY	1.18	(0.13)	0.00	(0.40)	0.00	0.00	3.23	(3.12)	9.19
WETH	3.51	(0.04)	0.00	0.13	0.00	0.00	8.59	(7.78)	28.99
MBHCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AANNF	0.96	(0.14)	0.00	(1.00)	0.00	0.00	0.00	0.00	27.29
ACNDF	1.37	(0.08)	0.00	0.20	0.00	0.00	3.90	(6.02)	19.81

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