Paramount Resources Correlations

PRMRF Stock

USD 18.68 0.65 3.61%

The current 90-days correlation between Paramount Resources and NuVista Energy is 0.44 (i.e., Very weak diversification). The correlation of Paramount 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.

Paramount Resources Correlation With Market

Modest diversification

The correlation between Paramount Resources and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paramount Resources and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Paramount 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 Paramount 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 Paramount 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 Paramount Resources to buy it.

Moving together with Paramount Pink Sheet

0.71

CSCO

Cisco Systems Aggressive Push

Pair Corr

Moving against Paramount Pink Sheet

0.5	MSFT	Microsoft Earnings Call Today	Pair Corr
0.46	GE	GE Aerospace	Pair Corr
0.35	HD	Home Depot	Pair Corr
0.33	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	NUVSF	ATHOF	UNEGF	EERGF	RUBSF	JPTXF	SRE	HLPMF	TOIPY	FDVWF
NUVSF		0.62	-0.1	-0.02	0.0	0.12	-0.43	0.55	0.0	-0.72	NUVSF
ATHOF	0.62		-0.28	0.46	0.0	-0.42	-0.07	0.02	0.0	-0.33	ATHOF
UNEGF	-0.1	-0.28		-0.59	0.0	0.25	-0.47	0.5	0.0	-0.21	UNEGF
EERGF	-0.02	0.46	-0.59		0.0	-0.37	0.39	-0.6	0.0	0.27	EERGF
RUBSF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	RUBSF
JPTXF	0.12	-0.42	0.25	-0.37	0.0		-0.26	0.35	0.0	-0.34	JPTXF
SRE	-0.43	-0.07	-0.47	0.39	0.0	-0.26		-0.77	0.0	0.52	SRE
HLPMF	0.55	0.02	0.5	-0.6	0.0	0.35	-0.77		0.0	-0.54	HLPMF
TOIPY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TOIPY
FDVWF	-0.72	-0.33	-0.21	0.27	0.0	-0.34	0.52	-0.54	0.0		FDVWF
	NUVSF	ATHOF	UNEGF	EERGF	RUBSF	JPTXF	SRE	HLPMF	TOIPY	FDVWF

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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

ATHOF	+ 0.62	NUVSF
HLPMF	+ 0.55	NUVSF
FDVWF	+ 0.52	SRE
HLPMF	+ 0.5	UNEGF
EERGF	+ 0.46	ATHOF
SRE	+ 0.39	EERGF

High negative correlations

HLPMF	- 0.77	SRE
FDVWF	- 0.72	NUVSF
HLPMF	- 0.6	EERGF
EERGF	- 0.59	UNEGF
FDVWF	- 0.54	HLPMF
SRE	- 0.47	UNEGF

Risk-Adjusted Indicators

There is a big difference between Paramount Pink Sheet performing well and Paramount 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 Paramount 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
NUVSF	0.96	0.29	0.16	(2.05)	0.93	(1.22)	2.61	(1.53)	7.21
ATHOF	1.62	0.32	0.11	2.03	2.02	(1.77)	4.09	(3.17)	11.89
UNEGF	2.30	0.30	0.00	(0.11)	0.00	0.00	0.00	0.00	70.73
EERGF	1.02	0.04	0.01	0.12	1.26	(3.85)	4.94	(2.40)	11.49
RUBSF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JPTXF	10.88	(4.95)	0.00	8.61	0.00	0.00	13.69	(80.12)	93.81
SRE	0.88	(0.11)	0.00	(0.16)	0.00	0.00	1.52	(2.76)	6.43
HLPMF	0.63	0.18	0.00	0.65	0.00	0.00	2.42	0.00	15.62
TOIPY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FDVWF	0.91	(0.16)	0.00	(0.16)	0.00	0.00	0.00	0.00	17.34

Be your own money manager

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

Bernard Lee	Ex Fin	Profile
Paul Kinvig	Chief Officer	Profile
Mark Franko	Gen Sec	Profile
William Roach	Chief Pixar	Profile
BCom CFA	Exec Planning	Profile
Phillip Tahmazian	VP Marketing	Profile
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