Pacific Gas Correlations
| PCG-PC Preferred Stock | USD 19.90 0.08 0.40% |
The current 90-days correlation between Pacific Gas and Pacific Gas and is -0.26 (i.e., Very good diversification). The correlation of Pacific Gas 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.
Pacific Gas Correlation With Market
Very good diversification
The correlation between Pacific Gas and and DJI is -0.38 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacific Gas and and DJI in the same portfolio, assuming nothing else is changed.
Pacific |
The ability to find closely correlated positions to Pacific Gas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pacific Gas 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 Pacific Gas - 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 Pacific Gas and to buy it.
Moving together with Pacific Preferred Stock
| 0.64 | AEE | Ameren Corp Sell-off Trend | PairCorr |
| 0.79 | EDN | Empresa Distribuidora | PairCorr |
| 0.81 | ETR | Entergy | PairCorr |
| 0.65 | IDA | IDACORP | PairCorr |
| 0.61 | OGE | OGE Energy | PairCorr |
| 0.66 | PCG | PGE Corp | PairCorr |
| 0.64 | TLN | Talen Energy | PairCorr |
| 0.65 | XEL | Xcel Energy Fiscal Year End 23rd of January 2025 | PairCorr |
Moving against Pacific Preferred Stock
| 0.84 | EBR | Centrais Electricas | PairCorr |
| 0.74 | FE | FirstEnergy | PairCorr |
| 0.72 | ES | Eversource Energy | PairCorr |
| 0.71 | NGG | National Grid PLC | PairCorr |
| 0.64 | AEP | American Electric Power | PairCorr |
| 0.59 | NEE | Nextera Energy Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.58 | GNE | Genie Energy | PairCorr |
| 0.54 | EIX | Edison International | PairCorr |
| 0.48 | ED | Consolidated Edison | PairCorr |
| 0.4 | DTE | DTE Energy | PairCorr |
| 0.36 | HE | Hawaiian Electric | PairCorr |
| 0.36 | FTS | Fortis Inc | PairCorr |
| 0.38 | NEE-PN | Nextera Energy | PairCorr |
Related Correlations Analysis
| 0.3 | 0.63 | 0.17 | 0.76 | PCG-PB | ||
| 0.3 | 0.42 | 0.08 | 0.4 | PCG-PE | ||
| 0.63 | 0.42 | 0.39 | 0.67 | PCG-PD | ||
| 0.17 | 0.08 | 0.39 | 0.16 | PCG-PG | ||
| 0.76 | 0.4 | 0.67 | 0.16 | PCG-PH | ||
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Risk-Adjusted Indicators
There is a big difference between Pacific Preferred Stock performing well and Pacific Gas 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 Pacific Gas' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PCG-PB | 0.66 | 0.08 | (0.03) | (3.19) | 0.98 | 1.95 | 8.58 | |||
| PCG-PE | 1.16 | 0.04 | (0.04) | (0.05) | 1.61 | 4.67 | 10.41 | |||
| PCG-PD | 0.71 | 0.07 | (0.04) | (0.72) | 1.05 | 1.98 | 6.39 | |||
| PCG-PG | 1.11 | 0.01 | (0.03) | 0.17 | 1.58 | 1.98 | 7.35 | |||
| PCG-PH | 0.48 | 0.11 | (0.02) | (1.08) | 0.41 | 2.06 | 5.90 |
Pacific Gas Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pacific Gas preferred stock to make a market-neutral strategy. Peer analysis of Pacific Gas could also be used in its relative valuation, which is a method of valuing Pacific Gas by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |