Melbana Energy Correlations
| MEOAF Stock | USD 0.01 0 150.00% |
The current 90-days correlation between Melbana Energy and Alta Equipment Group is 0.05 (i.e., Significant diversification). The correlation of Melbana Energy 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.
Melbana Energy Correlation With Market
Good diversification
The correlation between Melbana Energy Limited 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 Melbana Energy Limited and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Melbana Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Melbana Energy 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 Melbana Energy - 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 Melbana Energy Limited to buy it.
Moving together with Melbana Pink Sheet
| 0.65 | BKRKY | Bank Rakyat Earnings Call This Week | PairCorr |
| 0.83 | PTAIF | PT Astra International | PairCorr |
| 0.63 | PG | Procter Gamble | PairCorr |
| 0.72 | HPQ | HP Inc | PairCorr |
| 0.62 | TRV | The Travelers Companies | PairCorr |
| 0.7 | AA | Alcoa Corp | PairCorr |
Moving against Melbana Pink Sheet
| 0.42 | BAMXF | Bayerische Motoren Werke | PairCorr |
| 0.41 | LGCY | Legacy Education | PairCorr |
| 0.37 | CHKP | Check Point Software Earnings Call This Week | PairCorr |
| 0.9 | LPTH | LightPath Technologies Earnings Call This Week | PairCorr |
| 0.74 | GILT | Gilat Satellite Networks | PairCorr |
| 0.58 | PFE | Pfizer Inc Earnings Call This Week | PairCorr |
| 0.47 | MMM | 3M Company | PairCorr |
Related Correlations Analysis
| 0.54 | 0.68 | 0.11 | 0.14 | 0.36 | 0.5 | WSC | ||
| 0.54 | 0.45 | 0.7 | 0.65 | 0.47 | 0.69 | ALTG | ||
| 0.68 | 0.45 | -0.04 | 0.26 | 0.42 | 0.59 | ECL | ||
| 0.11 | 0.7 | -0.04 | 0.42 | 0.27 | 0.58 | ECVT | ||
| 0.14 | 0.65 | 0.26 | 0.42 | 0.51 | 0.29 | HWKN | ||
| 0.36 | 0.47 | 0.42 | 0.27 | 0.51 | 0.4 | NL | ||
| 0.5 | 0.69 | 0.59 | 0.58 | 0.29 | 0.4 | LXFR | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Melbana Pink Sheet performing well and Melbana Energy 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 Melbana Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WSC | 2.04 | (0.03) | 0.00 | 2.21 | 0.00 | 5.15 | 16.87 | |||
| ALTG | 2.90 | 0.26 | 0.08 | 0.32 | 3.15 | 6.85 | 25.52 | |||
| ECL | 0.83 | (0.05) | 0.00 | (0.05) | 0.00 | 1.54 | 4.98 | |||
| ECVT | 1.79 | 0.37 | 0.19 | 6.94 | 1.34 | 4.55 | 18.71 | |||
| HWKN | 1.99 | (0.14) | 0.00 | (0.14) | 0.00 | 3.42 | 19.03 | |||
| NL | 2.43 | (0.01) | (0.01) | 0.06 | 3.51 | 6.29 | 16.89 | |||
| LXFR | 1.84 | 0.23 | 0.09 | 1.43 | 1.82 | 3.55 | 18.90 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Melbana Energy 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?
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Melbana Energy Corporate Management
| Duncan BSc | Exploration Mang | Profile | |
| Eng BE | Ex Chairman | Profile | |
| CA CA | CFO Sec | Profile | |
| Hons BSc | NonExec Director | Profile | |
| Errol Johnstone | Chief Geoscientist | Profile |