Peninsula Energy Correlations
| P1M Stock | EUR 0.79 0.06 7.06% |
The current 90-days correlation between Peninsula Energy and BHP Group Limited is 0.07 (i.e., Significant diversification). The correlation of Peninsula 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.
Peninsula Energy Correlation With Market
Average diversification
The correlation between Peninsula Energy Limited and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Peninsula Energy Limited and DJI in the same portfolio, assuming nothing else is changed.
Peninsula |
The ability to find closely correlated positions to Peninsula 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 Peninsula 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 Peninsula 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 Peninsula Energy Limited to buy it.
Moving together with Peninsula Stock
| 0.62 | BHP1 | BHP Group Limited | PairCorr |
| 0.71 | CVLC | Vale SA | PairCorr |
| 0.68 | 8GCA | Glencore plc | PairCorr |
| 0.66 | 8GC | Glencore PLC | PairCorr |
| 0.71 | TCID | Telkom Indonesia Tbk | PairCorr |
Moving against Peninsula Stock
| 0.68 | PNP | PNC Financial | PairCorr |
| 0.61 | VIP | Virtus Investment Earnings Call This Week | PairCorr |
| 0.59 | HBC2 | HSBC Holdings plc | PairCorr |
| 0.45 | ECHA | Ecopetrol SA | PairCorr |
| 0.38 | E908 | Lyxor 1 | PairCorr |
| 0.36 | ASME | ASML Holding NV Earnings Call Tomorrow | PairCorr |
| 0.33 | DBPE | Xtrackers LevDAX | PairCorr |
Related Correlations Analysis
| 0.93 | 0.71 | 0.88 | 0.89 | 0.89 | 0.11 | BHP1 | ||
| 0.93 | 0.76 | 0.92 | 0.85 | 0.93 | 0.14 | BHP | ||
| 0.71 | 0.76 | 0.69 | 0.65 | 0.75 | 0.56 | RIO1 | ||
| 0.88 | 0.92 | 0.69 | 0.83 | 0.88 | -0.09 | CVLB | ||
| 0.89 | 0.85 | 0.65 | 0.83 | 0.86 | 0.07 | 8GCA | ||
| 0.89 | 0.93 | 0.75 | 0.88 | 0.86 | 0.16 | 8GC | ||
| 0.11 | 0.14 | 0.56 | -0.09 | 0.07 | 0.16 | NGLB | ||
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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 Peninsula Stock performing well and Peninsula 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 Peninsula 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BHP1 | 1.04 | (0.17) | 0.00 | (0.55) | 0.00 | 2.35 | 7.06 | |||
| BHP | 1.05 | (0.16) | 0.00 | 16.25 | 0.00 | 2.37 | 6.89 | |||
| RIO1 | 1.15 | (0.01) | 0.00 | 0.10 | 0.00 | 2.16 | 7.31 | |||
| CVLB | 1.34 | (0.15) | 0.00 | 3.86 | 0.00 | 3.37 | 11.18 | |||
| 8GCA | 1.52 | (0.13) | 0.00 | (2.24) | 0.00 | 3.01 | 11.24 | |||
| 8GC | 1.40 | (0.20) | 0.00 | (2.71) | 0.00 | 3.05 | 13.05 | |||
| NGLB | 1.52 | 0.00 | (0.02) | 0.02 | 2.21 | 3.04 | 9.77 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Peninsula 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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