Greenfire Resources Correlations

GFR Stock

7.83 0.07 0.90%

The current 90-days correlation between Greenfire Resources and iShares SPTSX Capped is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Greenfire Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Greenfire Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Greenfire Resources Correlation With Market

Weak diversification

The correlation between Greenfire Resources and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Greenfire Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Greenfire Stock

0.89	CNQ	Canadian Natural Res	Pair Corr
0.85	OXY	Occidental Petroleum	Pair Corr
0.82	OXY	Occidental Petroleum CDR	Pair Corr
0.79	OVV	Ovintiv Earnings Call This Week	Pair Corr
0.77	WCP	Whitecap Resources Earnings Call This Week	Pair Corr
0.77	PSK	PrairieSky Royalty	Pair Corr
0.71	CU	Canadian Utilities	Pair Corr
0.88	IPO	InPlay Oil Corp	Pair Corr
0.71	TVE	Tamarack Valley Energy	Pair Corr
0.61	DOS	Dios Exploration	Pair Corr
0.75	PWF-PA	Power Financial Corp	Pair Corr
0.78	ONAU	OnGold Resources	Pair Corr
0.63	TMG	Thermal Energy Inter	Pair Corr
0.8	ATH	Athabasca Oil Corp	Pair Corr
0.75	BBB	Brixton Metals	Pair Corr

Moving against Greenfire Stock

0.59	FFH	Fairfax Financial Earnings Call This Week	Pair Corr
0.33	PYR	PyroGenesis Canada	Pair Corr
0.32	ELF-PH	E L Financial	Pair Corr

Related Correlations Analysis

	JEC	CBV	PAT	XHB	ERE-UN	CLU	RUDB	BN-PFI	XTOT	XEG
JEC		0.0	-0.23	0.68	0.53	0.67	-0.64	0.56	-0.08	0.8	JEC
CBV	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CBV
PAT	-0.23	0.0		-0.22	-0.71	-0.61	0.66	-0.69	-0.15	-0.06	PAT
XHB	0.68	0.0	-0.22		0.67	0.79	-0.41	0.55	0.17	0.8	XHB
ERE-UN	0.53	0.0	-0.71	0.67		0.82	-0.55	0.71	0.31	0.46	ERE-UN
CLU	0.67	0.0	-0.61	0.79	0.82		-0.72	0.8	0.28	0.72	CLU
RUDB	-0.64	0.0	0.66	-0.41	-0.55	-0.72		-0.81	0.16	-0.52	RUDB
BN-PFI	0.56	0.0	-0.69	0.55	0.71	0.8	-0.81		0.06	0.48	BN-PFI
XTOT	-0.08	0.0	-0.15	0.17	0.31	0.28	0.16	0.06		-0.09	XTOT
XEG	0.8	0.0	-0.06	0.8	0.46	0.72	-0.52	0.48	-0.09		XEG
	JEC	CBV	PAT	XHB	ERE-UN	CLU	RUDB	BN-PFI	XTOT	XEG

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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

CLU	+ 0.82	ERE-UN
XEG	+ 0.8	JEC
XEG	+ 0.8	XHB
BN-PFI	+ 0.8	CLU
CLU	+ 0.79	XHB
XEG	+ 0.72	CLU

High negative correlations

BN-PFI	- 0.81	RUDB
RUDB	- 0.72	CLU
ERE-UN	- 0.71	PAT
BN-PFI	- 0.69	PAT
RUDB	- 0.64	JEC
CLU	- 0.61	PAT

Risk-Adjusted Indicators

There is a big difference between Greenfire Stock performing well and Greenfire Resources 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 Greenfire Resources' 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
JEC	1.73	0.58	0.00	(4.80)	0.00	0.00	0.00	0.00	53.33
CBV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PAT	4.54	0.04	0.00	0.03	0.00	0.00	12.20	(12.24)	78.11
XHB	0.13	0.00	(0.25)	0.10	0.13	(0.14)	0.25	(0.30)	0.80
ERE-UN	0.71	0.06	0.00	1.39	0.73	(1.19)	1.80	(1.72)	4.37
CLU	0.51	0.08	0.05	0.27	0.44	(0.59)	1.24	(1.15)	3.00
RUDB	0.27	(0.03)	0.00	0.59	0.00	0.00	0.50	(0.72)	1.56
BN-PFI	0.23	0.00	(0.13)	(2.82)	0.31	(0.28)	0.59	(0.60)	1.58
XTOT	0.64	(0.08)	0.00	(0.07)	0.00	0.00	1.25	(1.33)	5.08
XEG	1.12	0.27	0.15	11.79	1.13	(1.20)	2.53	(1.52)	5.88

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Our tools can tell you how much better you can do entering a position in Greenfire Resources 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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Greenfire Resources Corporate Management

Elected by the shareholders, the Greenfire Resources' board of directors comprises two types of representatives: Greenfire Resources inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Greenfire. The board's role is to monitor Greenfire Resources' management team and ensure that shareholders' interests are well served. Greenfire Resources' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Greenfire Resources' outside directors are responsible for providing unbiased perspectives on the board's policies.

Jonathan PEng	Chief Officer	Profile
Anton CA	Chief Officer	Profile
Charles Esq	Corporate Secretary	Profile
Jonathan Kanderka	Chief Officer	Profile
PEng MBA	Senior Development	Profile

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