PEDEVCO Corp Correlations

PED Stock

USD 0.86 0.01 1.15%

The current 90-days correlation between PEDEVCO Corp and Devon Energy is 0.14 (i.e., Average diversification). The correlation of PEDEVCO Corp 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.

PEDEVCO Corp Correlation With Market

Average diversification

The correlation between PEDEVCO Corp and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PEDEVCO Corp 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 PEDEVCO Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For information on how to trade PEDEVCO Stock refer to our How to Trade PEDEVCO Stock guide.

Moving against PEDEVCO Stock

0.4	VTLE	Vital Energy	Pair Corr
0.35	VIST	Vista Oil Gas	Pair Corr
0.4	GLRI	Glori Energy Technology	Pair Corr
0.36	MNR	Mach Natural Resources	Pair Corr

Related Correlations Analysis

	DVN	COP	OXY	PR	EOG	CTRA	RRC
DVN		0.35	0.95	-0.01	0.09	-0.11	-0.38	DVN
COP	0.35		0.45	0.78	0.81	0.67	0.58	COP
OXY	0.95	0.45		0.12	0.19	0.04	-0.22	OXY
PR	-0.01	0.78	0.12		0.93	0.93	0.88	PR
EOG	0.09	0.81	0.19	0.93		0.89	0.82	EOG
CTRA	-0.11	0.67	0.04	0.93	0.89		0.89	CTRA
RRC	-0.38	0.58	-0.22	0.88	0.82	0.89		RRC
	DVN	COP	OXY	PR	EOG	CTRA	RRC

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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

OXY	+ 0.95	DVN
EOG	+ 0.93	PR
CTRA	+ 0.93	PR
CTRA	+ 0.89	EOG
RRC	+ 0.89	CTRA
RRC	+ 0.88	PR

High negative correlations

RRC	- 0.38	DVN
RRC	- 0.22	OXY
CTRA	- 0.11	DVN
PR	- 0.01	DVN

Risk-Adjusted Indicators

There is a big difference between PEDEVCO Stock performing well and PEDEVCO Corp 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 PEDEVCO Corp'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
DVN	1.29	(0.22)	0.00	(0.18)	0.00	0.00	2.17	(2.95)	7.21
COP	1.25	(0.02)	(0.05)	0.07	1.51	(1.38)	2.59	(3.24)	7.92
OXY	1.15	(0.18)	0.00	(0.18)	0.00	0.00	2.04	(2.77)	7.68
PR	1.64	0.10	0.05	0.21	1.94	(1.79)	2.90	(3.33)	7.95
EOG	1.17	0.05	0.01	0.19	1.36	(1.19)	2.49	(2.88)	7.05
CTRA	1.13	0.14	0.07	0.29	1.27	(1.18)	2.27	(1.94)	8.03
RRC	1.42	0.17	0.09	0.32	1.44	(1.60)	3.64	(2.66)	8.94

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