Par Pacific Correlations

PARR Stock

USD 17.37 0.17 0.99%

The current 90-days correlation between Par Pacific Holdings and Delek Logistics Partners is 0.02 (i.e., Significant diversification). The correlation of Par Pacific 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.

Par Pacific Correlation With Market

Very weak diversification

The correlation between Par Pacific Holdings and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Par Pacific Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Par Pacific Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Par Stock

0.89	DINO	HF Sinclair Corp	Pair Corr
0.81	DK	Delek Energy	Pair Corr
0.85	BPT	BP Prudhoe Bay	Pair Corr
0.67	CVI	CVR Energy	Pair Corr
0.88	MPC	Marathon Petroleum Corp Sell-off Trend	Pair Corr
0.77	PBF	PBF Energy	Pair Corr
0.61	PSX	Phillips 66 Sell-off Trend	Pair Corr
0.77	UGP	Ultrapar Participacoes	Pair Corr
0.63	VLO	Valero Energy Sell-off Trend	Pair Corr
0.76	CSAN	Cosan SA ADR Downward Rally	Pair Corr
0.66	E	Eni SpA ADR	Pair Corr
0.85	BP	BP PLC ADR	Pair Corr
0.91	EC	Ecopetrol SA ADR	Pair Corr
0.64	NE	Noble plc	Pair Corr
0.84	NR	Newpark Resources	Pair Corr
0.86	SD	SandRidge Energy	Pair Corr

Moving against Par Stock

0.72	REPYY	Repsol SA	Pair Corr
0.7	BDCO	Blue Dolphin Energy	Pair Corr
0.68	EE	Excelerate Energy	Pair Corr
0.67	MITSY	Mitsui Company	Pair Corr
0.6	CAPL	Crossamerica Partners	Pair Corr
0.52	AE	Adams Resources Energy	Pair Corr
0.47	AM	Antero Midstream Partners	Pair Corr
0.43	AMTX	Aemetis	Pair Corr
0.81	IMPPP	Imperial Petroleum	Pair Corr
0.78	ENLC	EnLink Midstream LLC	Pair Corr
0.68	TS	Tenaris SA ADR Sell-off Trend	Pair Corr
0.62	EPSN	Epsilon Energy	Pair Corr
0.6	DMLP	Dorchester Minerals	Pair Corr
0.59	VNOM	Viper Energy Ut	Pair Corr
0.55	DWSN	Dawson Geophysical	Pair Corr
0.55	EFXT	Enerflex	Pair Corr
0.5	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.4	DLNG	Dynagas LNG Partners Earnings Call Next Week	Pair Corr

Related Correlations Analysis

	DKL	CVI	PBF	DINO	SGU	UGP	DK	CAPL	CSAN	VVV
DKL		0.29	0.16	0.4	0.0	0.26	0.52	-0.03	0.45	-0.23	DKL
CVI	0.29		0.85	0.85	-0.3	0.54	0.59	-0.04	0.65	-0.04	CVI
PBF	0.16	0.85		0.86	-0.03	0.49	0.7	-0.2	0.54	-0.04	PBF
DINO	0.4	0.85	0.86		-0.19	0.74	0.87	-0.35	0.8	-0.07	DINO
SGU	0.0	-0.3	-0.03	-0.19		-0.24	-0.04	0.02	-0.32	0.1	SGU
UGP	0.26	0.54	0.49	0.74	-0.24		0.61	-0.43	0.91	-0.12	UGP
DK	0.52	0.59	0.7	0.87	-0.04	0.61		-0.45	0.7	-0.08	DK
CAPL	-0.03	-0.04	-0.2	-0.35	0.02	-0.43	-0.45		-0.34	-0.02	CAPL
CSAN	0.45	0.65	0.54	0.8	-0.32	0.91	0.7	-0.34		-0.09	CSAN
VVV	-0.23	-0.04	-0.04	-0.07	0.1	-0.12	-0.08	-0.02	-0.09		VVV
	DKL	CVI	PBF	DINO	SGU	UGP	DK	CAPL	CSAN	VVV

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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

CSAN	+ 0.91	UGP
DK	+ 0.87	DINO
DINO	+ 0.86	PBF
PBF	+ 0.85	CVI
DINO	+ 0.85	CVI
CSAN	+ 0.8	DINO

High negative correlations

CAPL	- 0.45	DK
CAPL	- 0.43	UGP
CAPL	- 0.35	DINO
CSAN	- 0.34	CAPL
CSAN	- 0.32	SGU
SGU	- 0.3	CVI

Risk-Adjusted Indicators

There is a big difference between Par Stock performing well and Par Pacific 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 Par Pacific'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
DKL	1.06	0.13	0.00	(0.24)	2.29	(1.02)	2.84	(1.44)	16.59
CVI	2.61	(0.47)	0.00	(0.17)	0.00	0.00	3.99	(5.81)	28.93
PBF	1.93	(0.19)	0.00	(0.06)	0.00	0.00	3.52	(3.76)	15.94
DINO	1.57	(0.25)	0.00	(0.10)	0.00	0.00	3.44	(4.35)	11.77
SGU	1.40	0.04	0.00	0.17	1.37	(1.95)	3.36	(2.59)	9.70
UGP	1.75	(0.51)	0.00	(0.45)	0.00	0.00	3.15	(4.71)	11.29
DK	2.02	(0.25)	0.00	(0.11)	0.00	0.00	3.53	(3.90)	16.10
CAPL	1.12	0.01	(0.03)	0.11	1.21	(1.29)	3.11	(2.23)	6.78
CSAN	1.83	(0.47)	0.00	(0.65)	0.00	0.00	3.68	(3.74)	9.84
VVV	1.14	(0.17)	0.00	(0.06)	0.00	0.00	2.29	(2.45)	13.07

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