Paramount Resources Correlations

PRMRF Stock

USD 18.64 0.27 1.43%

The current 90-days correlation between Paramount Resources and HPQ Silicon Resources is -0.19 (i.e., Good 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

Weak diversification

The correlation between Paramount Resources and DJI is 0.32 (i.e., Weak 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

0.62	XYIGY	Xinyi Glass Holdings Earnings Call Today	Pair Corr
0.67	BKCYF	Bank Of Cyprus Holdings P Normal Trading	Pair Corr
0.72	LTSK	Ladenburg Thalmann	Pair Corr
0.67	GBOOY	Grupo Financiero Banorte	Pair Corr
0.62	TDY	Teledyne Technologies	Pair Corr
0.64	JNJ	Johnson Johnson	Pair Corr
0.64	BYM	BlackRock Municipal	Pair Corr

Moving against Paramount Pink Sheet

0.39	ANLDF	Anfield Resources	Pair Corr
0.33	PTAIF	PT Astra International	Pair Corr
0.33	PBCRF	PT Bank Central	Pair Corr
0.55	SPR	Spirit Aerosystems	Pair Corr

Related Correlations Analysis

	AZMTF	LEMIF	SYHBF	NWCCF	ARYMF	NYRSY	NILIF	CDBMF	HPQFF
AZMTF		0.53	0.56	0.31	0.47	0.0	0.5	-0.26	0.13	AZMTF
LEMIF	0.53		0.77	0.12	0.14	0.0	0.21	0.46	0.62	LEMIF
SYHBF	0.56	0.77		0.43	0.36	0.0	0.36	0.39	0.62	SYHBF
NWCCF	0.31	0.12	0.43		0.76	0.0	0.73	-0.18	0.08	NWCCF
ARYMF	0.47	0.14	0.36	0.76		0.0	0.81	-0.26	0.12	ARYMF
NYRSY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NYRSY
NILIF	0.5	0.21	0.36	0.73	0.81	0.0		-0.28	0.08	NILIF
CDBMF	-0.26	0.46	0.39	-0.18	-0.26	0.0	-0.28		0.65	CDBMF
HPQFF	0.13	0.62	0.62	0.08	0.12	0.0	0.08	0.65		HPQFF
	AZMTF	LEMIF	SYHBF	NWCCF	ARYMF	NYRSY	NILIF	CDBMF	HPQFF

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

NILIF	+ 0.81	ARYMF
SYHBF	+ 0.77	LEMIF
ARYMF	+ 0.76	NWCCF
NILIF	+ 0.73	NWCCF
HPQFF	+ 0.65	CDBMF
HPQFF	+ 0.62	LEMIF

High negative correlations

CDBMF	- 0.28	NILIF
CDBMF	- 0.26	ARYMF
CDBMF	- 0.26	AZMTF
CDBMF	- 0.18	NWCCF
HPQFF	- 0.0	NYRSY
CDBMF	- 0.0	NYRSY

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
AZMTF	4.19	0.20	0.04	0.25	5.20	(4.81)	10.00	(8.33)	28.00
LEMIF	4.95	0.78	0.12	0.73	4.25	(9.51)	13.64	(8.33)	35.53
SYHBF	3.72	0.56	0.12	0.40	3.27	(6.34)	9.09	(7.14)	32.89
NWCCF	4.46	0.47	0.05	(1.38)	4.61	(9.10)	12.50	(7.41)	41.03
ARYMF	9.94	1.84	0.11	2.58	9.57	(18.22)	30.80	(22.30)	103.64
NYRSY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NILIF	4.08	0.54	0.15	0.32	3.67	(5.78)	10.00	(7.55)	26.19
CDBMF	3.70	1.02	0.14	(0.80)	2.97	(9.64)	10.00	(5.56)	54.87
HPQFF	3.08	0.25	0.01	(0.59)	3.73	(7.48)	7.69	(7.14)	22.62

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
LLM LLB	G Land	Profile

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