Oil Refineries Correlations

OILRF Stock

USD 0.40 0.05 14.29%

The current 90-days correlation between Oil Refineries and Africa Oil Corp is 0.24 (i.e., Modest diversification). The correlation of Oil Refineries 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.

Oil Refineries Correlation With Market

Significant diversification

The correlation between Oil Refineries and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oil Refineries and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Oil Pink Sheet

0.75	NTOIF	Neste Oyj	Pair Corr
0.7	JXHGF	ENEOS Holdings	Pair Corr
0.77	JXHLY	Eneos Holdings ADR	Pair Corr
0.8	GLUC	Glucose Health	Pair Corr
0.86	SKBNF	Shikun Binui	Pair Corr
0.66	LVLU	Lulus Fashion Lounge Trending	Pair Corr
0.74	RVMDW	Revolution Medicines	Pair Corr
0.66	ISTR	Investar Holding Corp Earnings Call This Week	Pair Corr
0.62	ZION	Zions Bancorporation	Pair Corr
0.67	TLSNY	Telia Company Earnings Call This Week	Pair Corr
0.61	BCGWW	Binah Capital Group	Pair Corr
0.7	NWWCF	New China Life	Pair Corr
0.75	ROK	Rockwell Automation Earnings Call Tomorrow	Pair Corr

Moving against Oil Pink Sheet

0.43	DINO	HF Sinclair Corp	Pair Corr
0.42	SIGL	Signal Advance	Pair Corr
0.4	MPC	Marathon Petroleum Corp	Pair Corr
0.36	CSUI	Cannabis Suisse Corp	Pair Corr
0.52	XCPT	XCana Petroleum	Pair Corr

Related Correlations Analysis

	SOGFF	AOIFF	IRPSY	CRLFF	BWEFF	KELTF	COPJF	DALXF	KRNGF	HNTIF
SOGFF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SOGFF
AOIFF	0.0		0.0	0.34	0.25	0.41	0.41	0.58	0.11	0.68	AOIFF
IRPSY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	IRPSY
CRLFF	0.0	0.34	0.0		-0.39	0.89	-0.09	0.91	-0.38	0.69	CRLFF
BWEFF	0.0	0.25	0.0	-0.39		-0.31	0.25	-0.29	0.09	-0.1	BWEFF
KELTF	0.0	0.41	0.0	0.89	-0.31		-0.12	0.88	-0.3	0.63	KELTF
COPJF	0.0	0.41	0.0	-0.09	0.25	-0.12		0.07	0.2	0.0	COPJF
DALXF	0.0	0.58	0.0	0.91	-0.29	0.88	0.07		-0.28	0.8	DALXF
KRNGF	0.0	0.11	0.0	-0.38	0.09	-0.3	0.2	-0.28		-0.32	KRNGF
HNTIF	0.0	0.68	0.0	0.69	-0.1	0.63	0.0	0.8	-0.32		HNTIF
	SOGFF	AOIFF	IRPSY	CRLFF	BWEFF	KELTF	COPJF	DALXF	KRNGF	HNTIF

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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

DALXF	+ 0.91	CRLFF
KELTF	+ 0.89	CRLFF
DALXF	+ 0.88	KELTF
HNTIF	+ 0.8	DALXF
HNTIF	+ 0.69	CRLFF
HNTIF	+ 0.68	AOIFF

High negative correlations

BWEFF	- 0.39	CRLFF
KRNGF	- 0.38	CRLFF
HNTIF	- 0.32	KRNGF
KELTF	- 0.31	BWEFF
KRNGF	- 0.3	KELTF
DALXF	- 0.29	BWEFF

Risk-Adjusted Indicators

There is a big difference between Oil Pink Sheet performing well and Oil Refineries 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 Oil Refineries' 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
SOGFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AOIFF	1.54	0.18	0.06	0.79	1.56	(2.08)	3.28	(3.08)	8.84
IRPSY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRLFF	1.53	0.23	0.09	1.04	1.72	(1.65)	3.49	(2.90)	8.96
BWEFF	1.17	(0.03)	0.00	0.11	0.00	0.00	1.05	(0.83)	27.62
KELTF	2.28	0.39	0.11	(4.26)	2.29	(2.88)	7.50	(4.55)	18.62
COPJF	459.84	230.30	0.00	2.49	0.00	0.00	0.00	0.00	14,647
DALXF	2.06	0.66	0.23	1.32	1.94	(2.41)	4.84	(3.58)	17.62
KRNGF	1.40	0.35	0.00	(0.64)	0.00	0.00	4.50	(0.88)	37.94
HNTIF	1.43	0.35	0.06	1.36	1.42	(5.62)	7.11	(3.43)	19.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Oil Refineries 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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Oil Refineries Corporate Management

Ana Berenshtein	VP Economics	Profile
Mark Hannah	VP Sales	Profile
Yonatan Gershon	VP Counsel	Profile
Malachi Alper	Chief Officer	Profile
Eliahu Mordoch	Co Sec	Profile
Shai Avramovitch	Head Division	Profile

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