High Arctic Correlations

HGHAF Stock

USD 0.81 0.03 3.57%

The current 90-days correlation between High Arctic Energy and Petroleo Brasileiro Petrobras is 0.36 (i.e., Weak diversification). The correlation of High Arctic 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.

High Arctic Correlation With Market

Modest diversification

The correlation between High Arctic Energy and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Arctic Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against High Pink Sheet

0.6	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.44	MSFT	Microsoft Aggressive Push	Pair Corr
0.43	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.39	WMT	Walmart Aggressive Push	Pair Corr
0.38	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.36	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.35	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.35	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.34	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	PBR	EQNR	E	YPF	EC	BP	SHEL	TTE	NFG	TGS
PBR		0.8	0.45	-0.24	0.85	0.75	0.5	0.53	-0.28	-0.32	PBR
EQNR	0.8		0.59	-0.31	0.8	0.77	0.53	0.59	-0.17	-0.37	EQNR
E	0.45	0.59		-0.77	0.66	0.86	0.82	0.91	-0.52	-0.79	E
YPF	-0.24	-0.31	-0.77		-0.55	-0.66	-0.44	-0.88	0.68	0.97	YPF
EC	0.85	0.8	0.66	-0.55		0.9	0.64	0.76	-0.52	-0.6	EC
BP	0.75	0.77	0.86	-0.66	0.9		0.78	0.88	-0.46	-0.72	BP
SHEL	0.5	0.53	0.82	-0.44	0.64	0.78		0.67	-0.48	-0.49	SHEL
TTE	0.53	0.59	0.91	-0.88	0.76	0.88	0.67		-0.62	-0.87	TTE
NFG	-0.28	-0.17	-0.52	0.68	-0.52	-0.46	-0.48	-0.62		0.64	NFG
TGS	-0.32	-0.37	-0.79	0.97	-0.6	-0.72	-0.49	-0.87	0.64		TGS
	PBR	EQNR	E	YPF	EC	BP	SHEL	TTE	NFG	TGS

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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

TGS	+ 0.97	YPF
TTE	+ 0.91	E
BP	+ 0.9	EC
TTE	+ 0.88	BP
BP	+ 0.86	E
EC	+ 0.85	PBR

High negative correlations

TTE	- 0.88	YPF
TGS	- 0.87	TTE
TGS	- 0.79	E
YPF	- 0.77	E
TGS	- 0.72	BP
BP	- 0.66	YPF

Risk-Adjusted Indicators

There is a big difference between High Pink Sheet performing well and High Arctic 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 High Arctic'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
PBR	1.18	(0.18)	0.00	(0.39)	0.00	0.00	1.92	(2.53)	7.41
EQNR	1.54	(0.11)	0.00	0.89	0.00	0.00	3.30	(4.50)	8.46
E	0.97	(0.18)	0.00	(2.95)	0.00	0.00	1.51	(2.34)	4.90
YPF	2.12	0.85	0.50	1.12	1.09	(2.83)	5.61	(2.51)	10.08
EC	1.37	(0.37)	0.00	(1.21)	0.00	0.00	2.46	(3.86)	8.46
BP	1.19	(0.26)	0.00	(0.48)	0.00	0.00	1.68	(3.34)	7.70
SHEL	0.97	(0.17)	0.00	(0.69)	0.00	0.00	1.42	(2.79)	5.88
TTE	1.03	(0.27)	0.00	(1.94)	0.00	0.00	1.62	(2.57)	7.40
NFG	1.02	0.06	0.01	0.23	1.22	(1.13)	2.82	(1.75)	8.65
TGS	2.22	0.73	0.25	3.39	1.94	(2.48)	6.42	(3.08)	12.65

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