Petro Rio Correlations

Stocks . Brazil . 
Stock . Petro Rio SA
PRIO3 Stock  BRL 53.73  1.29  2.34%   
The current 90-days correlation between Petro Rio SA and Refinaria de Petrleos is 0.22 (i.e., Modest diversification). The correlation of Petro Rio 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.

Petro Rio Correlation With Market

Poor diversification

The correlation between Petro Rio SA and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Petro Rio SA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Petro Rio could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Petro Rio 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 Petro Rio - 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 Petro Rio SA to buy it.

Moving together with Petro Stock

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Moving against Petro Stock

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Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Petro Stock performing well and Petro Rio 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 Petro Rio'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Petro Rio 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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Petro Rio Corporate Management

Elected by the shareholders, the Petro Rio's board of directors comprises two types of representatives: Petro Rio inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Petro. The board's role is to monitor Petro Rio's management team and ensure that shareholders' interests are well served. Petro Rio's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Petro Rio's outside directors are responsible for providing unbiased perspectives on the board's policies.
Francisco FernandesCOO BoardProfile
Jose CostaInvestor MangProfile
Rafael SierraAccountantProfile
Alex MendoncaSecProfile
Milton NetoCFO BoardProfile
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