Perpetual Credit Correlations

PCI Stock

1.16 0.04 3.33%

The current 90-days correlation between Perpetual Credit Income and Ridley is 0.06 (i.e., Significant diversification). The correlation of Perpetual Credit 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.

Perpetual Credit Correlation With Market

Modest diversification

The correlation between Perpetual Credit Income and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Perpetual Credit Income and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Perpetual Stock

0.34	SMM	Summit Resources Split	Pair Corr
0.31	ASK	ABACUS STORAGE KING	Pair Corr

Related Correlations Analysis

	WBCPJ	ASK	ODY	EOF	IXJ	RIC	AHF	AAC	ABE	ERW
WBCPJ		-0.14	-0.06	0.23	-0.13	0.32	0.3	0.2	-0.05	-0.1	WBCPJ
ASK	-0.14		0.65	-0.29	0.17	-0.1	-0.59	0.58	-0.04	0.72	ASK
ODY	-0.06	0.65		0.14	-0.09	0.25	-0.29	0.41	-0.43	0.69	ODY
EOF	0.23	-0.29	0.14		-0.62	0.73	0.55	0.0	-0.44	0.16	EOF
IXJ	-0.13	0.17	-0.09	-0.62		-0.82	-0.71	-0.04	0.17	-0.23	IXJ
RIC	0.32	-0.1	0.25	0.73	-0.82		0.67	0.11	-0.27	0.24	RIC
AHF	0.3	-0.59	-0.29	0.55	-0.71	0.67		-0.3	-0.02	-0.32	AHF
AAC	0.2	0.58	0.41	0.0	-0.04	0.11	-0.3		0.0	0.65	AAC
ABE	-0.05	-0.04	-0.43	-0.44	0.17	-0.27	-0.02	0.0		-0.34	ABE
ERW	-0.1	0.72	0.69	0.16	-0.23	0.24	-0.32	0.65	-0.34		ERW
	WBCPJ	ASK	ODY	EOF	IXJ	RIC	AHF	AAC	ABE	ERW

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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

RIC	+ 0.73	EOF
ERW	+ 0.72	ASK
ERW	+ 0.69	ODY
AHF	+ 0.67	RIC
ODY	+ 0.65	ASK
ERW	+ 0.65	AAC

High negative correlations

RIC	- 0.82	IXJ
AHF	- 0.71	IXJ
IXJ	- 0.62	EOF
AHF	- 0.59	ASK
ABE	- 0.44	EOF
ABE	- 0.43	ODY

Risk-Adjusted Indicators

There is a big difference between Perpetual Stock performing well and Perpetual Credit 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 Perpetual Credit'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
WBCPJ	0.23	0.00	(0.26)	0.09	0.33	(0.24)	0.50	(0.51)	2.51
ASK	1.24	(0.04)	0.00	0.37	0.00	0.00	2.46	(2.42)	6.25
ODY	3.98	0.13	0.00	(0.48)	4.34	(10.22)	10.53	(8.33)	34.43
EOF	6.01	0.85	0.09	1.19	6.02	(10.85)	20.00	(13.16)	47.93
IXJ	0.54	(0.13)	0.00	(0.81)	0.00	0.00	0.94	(1.27)	3.57
RIC	1.24	0.34	0.17	(18.76)	0.99	(1.67)	3.21	(2.26)	9.18
AHF	4.34	0.59	0.08	0.80	4.29	(7.51)	10.53	(10.00)	28.76
AAC	1.00	0.05	(0.03)	0.64	1.07	(1.28)	2.22	(2.11)	6.43
ABE	3.45	(0.14)	0.00	0.22	0.00	0.00	10.71	(11.76)	40.00
ERW	4.86	0.36	0.07	0.28	5.53	(6.74)	12.50	(12.33)	43.06

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Our tools can tell you how much better you can do entering a position in Perpetual Credit 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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