Pakistan Oilfields Correlations

POL Stock

637.80 1.11 0.17%

The current 90-days correlation between Pakistan Oilfields and Habib Metropolitan Bank is 0.16 (i.e., Average diversification). The correlation of Pakistan Oilfields 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.

Pakistan Oilfields Correlation With Market

Poor diversification

The correlation between Pakistan Oilfields and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pakistan Oilfields and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pakistan Stock

0.68	HBL	Habib Bank	Pair Corr
0.73	NBP	National Bank	Pair Corr
0.79	UBL	United Bank	Pair Corr
0.76	MCB	MCB Bank	Pair Corr
0.76	ABL	Allied Bank	Pair Corr
0.78	MEBL	Meezan Bank	Pair Corr
0.71	BAHL	Bank Al Habib	Pair Corr
0.85	BAFL	Bank Alfalah	Pair Corr
0.71	AKBL	Askari Bank	Pair Corr
0.75	HMB	Habib Metropolitan Bank	Pair Corr
0.75	ILP	Interloop	Pair Corr
0.81	SHFA	Shifa International	Pair Corr
0.73	SCBPL	Standard Chartered Bank	Pair Corr
0.62	NML	Nishat Mills	Pair Corr
0.68	PTC	Pakistan Telecommunicatio	Pair Corr
0.76	NRL	National Refinery	Pair Corr
0.77	MTL	Millat Tractors	Pair Corr
0.62	IGIL	IGI Life Insurance	Pair Corr
0.66	FFC	Fauji Fertilizer	Pair Corr
0.65	PAKRI	Pakistan Reinsurance	Pair Corr
0.65	MACFL	Macpac Films	Pair Corr
0.68	AGP	AGP	Pair Corr
0.75	ATLH	Atlas Honda	Pair Corr
0.62	HTL	Hi Tech Lubricants	Pair Corr
0.7	GATM	Gul Ahmed Textile	Pair Corr

Moving against Pakistan Stock

0.62

ARUJ

Aruj Industries

Pair Corr

Related Correlations Analysis

	HBL	NBP	UBL	MCB	ABL	MEBL	BAHL	BAFL	AKBL	HMB
HBL		0.9	0.9	0.94	0.92	0.88	0.9	0.77	0.83	0.58	HBL
NBP	0.9		0.97	0.93	0.92	0.93	0.87	0.9	0.88	0.69	NBP
UBL	0.9	0.97		0.96	0.93	0.96	0.89	0.93	0.87	0.81	UBL
MCB	0.94	0.93	0.96		0.91	0.92	0.9	0.86	0.85	0.74	MCB
ABL	0.92	0.92	0.93	0.91		0.93	0.92	0.88	0.9	0.67	ABL
MEBL	0.88	0.93	0.96	0.92	0.93		0.87	0.93	0.85	0.81	MEBL
BAHL	0.9	0.87	0.89	0.9	0.92	0.87		0.81	0.92	0.65	BAHL
BAFL	0.77	0.9	0.93	0.86	0.88	0.93	0.81		0.85	0.87	BAFL
AKBL	0.83	0.88	0.87	0.85	0.9	0.85	0.92	0.85		0.67	AKBL
HMB	0.58	0.69	0.81	0.74	0.67	0.81	0.65	0.87	0.67		HMB
	HBL	NBP	UBL	MCB	ABL	MEBL	BAHL	BAFL	AKBL	HMB

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Risk-Adjusted Indicators

There is a big difference between Pakistan Stock performing well and Pakistan Oilfields 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 Pakistan Oilfields' 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
HBL	1.02	0.20	0.13	30.49	0.90	(1.16)	2.49	(1.55)	7.55
NBP	1.35	0.25	0.11	0.68	1.67	(1.57)	3.04	(1.80)	13.34
UBL	1.09	0.40	0.33	(26.15)	0.58	(1.36)	3.06	(1.67)	12.11
MCB	1.00	0.26	0.20	2.70	0.68	(1.14)	2.97	(1.62)	10.59
ABL	1.00	0.08	0.01	(0.37)	1.67	(0.97)	2.46	(1.84)	6.11
MEBL	1.20	0.18	0.10	0.77	1.22	(1.33)	3.25	(2.55)	7.65
BAHL	0.77	(0.03)	0.00	(16.40)	0.00	0.00	1.46	(1.41)	7.06
BAFL	1.11	0.29	0.16	(1.84)	1.10	(1.26)	2.82	(2.25)	6.57
AKBL	1.53	0.06	0.00	(1.13)	2.20	(1.75)	3.89	(3.23)	14.48
HMB	1.01	0.17	0.10	3.30	0.94	(1.14)	3.18	(1.99)	8.65

Be your own money manager

Our tools can tell you how much better you can do entering a position in Pakistan Oilfields 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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