Imperial Petroleum Correlations

IMPPP Preferred Stock

USD 25.30 0.05 0.20%

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

Imperial Petroleum Correlation With Market

Significant diversification

The correlation between Imperial Petroleum Preferred and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imperial Petroleum Preferred and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Imperial Preferred Stock

0.65	AM	Antero Midstream Partners	Pair Corr
0.82	EE	Excelerate Energy	Pair Corr
0.66	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.65	DLNG	Dynagas LNG Partners Earnings Call Next Week	Pair Corr
0.79	ENLC	EnLink Midstream LLC	Pair Corr
0.77	DTM	DT Midstream	Pair Corr
0.72	ENB	Enbridge	Pair Corr
0.81	GLP	Global Partners LP	Pair Corr
0.75	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.72	OKE	ONEOK Inc	Pair Corr
0.68	PBA	Pembina Pipeline Corp	Pair Corr
0.75	GLOP-PB	GasLog Partners LP	Pair Corr
0.71	GLOP-PA	GasLog Partners LP	Pair Corr
0.66	GLOP-PC	GasLog Partners LP	Pair Corr
0.76	TRP	TC Energy Corp	Pair Corr
0.75	WMB	Williams Companies	Pair Corr
0.65	EP-PC	El Paso Energy	Pair Corr

Moving against Imperial Preferred Stock

0.86	BPT	BP Prudhoe Bay	Pair Corr
0.62	BROGW	Brooge Energy Limited	Pair Corr
0.6	PXSAW	Pyxis Tankers	Pair Corr
0.59	GEL	Genesis Energy LP	Pair Corr
0.49	FRO	Frontline Earnings Call Next Week	Pair Corr
0.37	FLNG	FLEX LNG Earnings Call Next Week	Pair Corr
0.78	LPG	Dorian LPG	Pair Corr
0.7	PXS	Pyxis Tankers	Pair Corr
0.58	SMC	Summit Midstream Symbol Change	Pair Corr
0.49	TNK	Teekay Tankers	Pair Corr
0.46	NAT	Nordic American Tankers Earnings Call This Week	Pair Corr
0.45	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr

Related Correlations Analysis

	IMPP	DLNG-PB	GLOP-PB	GLOP-PC
IMPP		-0.73	-0.5	-0.42	IMPP
DLNG-PB	-0.73		0.63	0.44	DLNG-PB
GLOP-PB	-0.5	0.63		0.75	GLOP-PB
GLOP-PC	-0.42	0.44	0.75		GLOP-PC
	IMPP	DLNG-PB	GLOP-PB	GLOP-PC

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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

GLOP-PC	+ 0.75	GLOP-PB
GLOP-PB	+ 0.63	DLNG-PB
GLOP-PC	+ 0.44	DLNG-PB

High negative correlations

DLNG-PB	- 0.73	IMPP
GLOP-PB	- 0.5	IMPP
GLOP-PC	- 0.42	IMPP

Risk-Adjusted Indicators

There is a big difference between Imperial Preferred Stock performing well and Imperial Petroleum 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 Imperial Petroleum'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
IMPP	1.56	(0.13)	0.00	(0.08)	0.00	0.00	3.57	(3.27)	10.84
DLNG-PB	0.53	0.02	(0.10)	(0.09)	0.70	(0.55)	0.91	(1.00)	3.04
GLOP-PB	0.26	0.02	(0.18)	0.28	0.18	(0.29)	0.55	(0.47)	1.40
GLOP-PC	0.27	0.07	(0.01)	0.49	0.00	(0.34)	0.47	(0.39)	1.34

Be your own money manager

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