Pacific Gas Correlations

Preferred Stocks . USA . 
Preferred Stock . Pacific Gas and
PCG-PI Preferred Stock  USD 16.53  0.03  0.18%   
The current 90-days correlation between Pacific Gas and Pacific Gas and is 0.36 (i.e., Weak 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.
  
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

  0.61EDN Empresa DistribuidoraPairCorr

Moving against Pacific Preferred Stock

  0.68AEP American Electric PowerPairCorr
  0.58D Dominion EnergyPairCorr
  0.56ED Consolidated EdisonPairCorr
  0.54SO SouthernPairCorr
  0.53ES Eversource EnergyPairCorr
  0.53EXC ExelonPairCorr
  0.53KEP Korea Electric PowerPairCorr
  0.5FE FirstEnergyPairCorr
  0.5DUK Duke EnergyPairCorr
  0.47FTS Fortis IncPairCorr
  0.45NGG National Grid PLCPairCorr
  0.44CMS-PB Consumers EnergyPairCorr
  0.4CMS CMS EnergyPairCorr
  0.37NEE Nextera Energy Earnings Call This WeekPairCorr
  0.34CMS-PC CMS EnergyPairCorr
  0.65ETI-P Entergy TexasPairCorr
  0.47WEC WEC Energy GroupPairCorr
  0.4NWE NorthWesternPairCorr
  0.4PNW Pinnacle West CapitalPairCorr
  0.4POR Portland General Electric Sell-off TrendPairCorr
  0.39PEG Public Service EnterprisePairCorr
  0.32PCG-PB Pacific GasPairCorr

Related Correlations Analysis

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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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Pacific Gas 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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