Pardee Resources Correlations

PDER Stock

USD 312.00 2.99 0.97%

The current 90-days correlation between Pardee Resources and Ranger Energy Services is 0.04 (i.e., Significant diversification). The correlation of Pardee Resources 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.

Pardee Resources Correlation With Market

Significant diversification

The correlation between Pardee Resources Co and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pardee Resources Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pardee Pink Sheet

0.62	FI	Fiserv,	Pair Corr
0.61	WMT	Walmart Aggressive Push	Pair Corr
0.65	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.7	T	ATT Inc Sell-off Trend	Pair Corr

Moving against Pardee Pink Sheet

0.63	SGD	Safe and Green	Pair Corr
0.61	QLGN	Qualigen Therapeutics	Pair Corr
0.6	MULN	Mullen Automotive	Pair Corr
0.53	NOV	NOV Inc	Pair Corr
0.37	CHOLF	China Oilfield Services	Pair Corr
0.61	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.55	KO	Coca Cola Aggressive Push	Pair Corr
0.41	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.38	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	XPRO	CHX	RNGR	WHD	MRC	VAL	WFRD	FTI	GEOS	HAL
XPRO		0.23	-0.69	-0.41	-0.33	0.91	0.85	-0.45	-0.77	0.2	XPRO
CHX	0.23		0.26	0.68	0.63	0.19	0.46	0.63	0.18	0.83	CHX
RNGR	-0.69	0.26		0.8	0.83	-0.63	-0.32	0.83	0.79	0.47	RNGR
WHD	-0.41	0.68	0.8		0.88	-0.4	-0.06	0.92	0.68	0.67	WHD
MRC	-0.33	0.63	0.83	0.88		-0.28	0.05	0.88	0.66	0.72	MRC
VAL	0.91	0.19	-0.63	-0.4	-0.28		0.83	-0.41	-0.64	0.19	VAL
WFRD	0.85	0.46	-0.32	-0.06	0.05	0.83		-0.09	-0.44	0.5	WFRD
FTI	-0.45	0.63	0.83	0.92	0.88	-0.41	-0.09		0.6	0.72	FTI
GEOS	-0.77	0.18	0.79	0.68	0.66	-0.64	-0.44	0.6		0.13	GEOS
HAL	0.2	0.83	0.47	0.67	0.72	0.19	0.5	0.72	0.13		HAL
	XPRO	CHX	RNGR	WHD	MRC	VAL	WFRD	FTI	GEOS	HAL

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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

FTI	+ 0.92	WHD
VAL	+ 0.91	XPRO
MRC	+ 0.88	WHD
FTI	+ 0.88	MRC
WFRD	+ 0.85	XPRO
HAL	+ 0.83	CHX

High negative correlations

GEOS	- 0.77	XPRO
RNGR	- 0.69	XPRO
GEOS	- 0.64	VAL
VAL	- 0.63	RNGR
FTI	- 0.45	XPRO
GEOS	- 0.44	WFRD

Risk-Adjusted Indicators

There is a big difference between Pardee Pink Sheet performing well and Pardee Resources 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 Pardee Resources' 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
XPRO	2.07	(0.87)	0.00	(0.22)	0.00	0.00	4.03	(4.86)	15.49
CHX	1.42	(0.25)	0.00	(0.05)	0.00	0.00	2.87	(3.32)	11.10
RNGR	1.39	0.40	0.21	0.75	1.29	(1.56)	3.56	(2.21)	6.77
WHD	1.92	(0.04)	0.03	0.10	2.19	(2.17)	3.85	(4.46)	16.21
MRC	1.45	(0.12)	0.00	0.06	1.57	(1.72)	3.28	(2.94)	18.83
VAL	2.01	(0.58)	0.00	(0.44)	0.00	0.00	3.56	(4.29)	10.17
WFRD	2.12	(0.64)	0.00	(0.19)	0.00	0.00	3.51	(4.75)	14.60
FTI	1.60	0.10	0.05	0.21	2.20	(1.56)	3.52	(3.50)	9.70
GEOS	2.37	(0.03)	0.02	0.10	3.93	(2.37)	4.68	(3.88)	27.12
HAL	1.42	(0.14)	(0.06)	0.00	1.86	(1.48)	3.03	(3.67)	10.02

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Our tools can tell you how much better you can do entering a position in Pardee Resources 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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Pardee Resources Corporate Management

Steven CPA	VP CFO	Profile
Volha Hutyrchyk	VP Investments	Profile
Thomas Lopus	VP Gas	Profile
Jeffrey Wagner	Gen VP	Profile
Jeffery Allen	Devel Acquisitions	Profile
Jeffrey Brown	VP Gas	Profile
Carleton CFA	Pres CEO	Profile

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