Petro Matad Correlations

PRTDF Stock

USD 0.01 0 28.00%

The current 90-days correlation between Petro Matad Limited and Sound Energy plc is -0.02 (i.e., Good diversification). The correlation of Petro Matad 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.

Petro Matad Correlation With Market

Modest diversification

The correlation between Petro Matad Limited and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Petro Matad Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Petro Matad 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 Matad 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 Matad - 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 Matad Limited to buy it.

Moving together with Petro Pink Sheet

0.61	ADC	Agree Realty	Pair Corr
0.65	ARRXF	Archer Materials	Pair Corr

Moving against Petro Pink Sheet

0.61	AVTBF	Avant Brands	Pair Corr
0.51	OXY	Occidental Petroleum	Pair Corr
0.5	TATT	Tat Techno	Pair Corr
0.47	COP	ConocoPhillips	Pair Corr
0.43	ONDS	Ondas Holdings Aggressive Push	Pair Corr
0.4	ASTI	Ascent Solar Technol Tech Boost	Pair Corr
0.39	26442TAG2	US26442TAG22	Pair Corr
0.57	TAK	Takeda Pharmaceutical	Pair Corr
0.48	GSVRF	Guanajuato Silver	Pair Corr
0.47	RCRUY	Recruit Holdings	Pair Corr
0.42	ULTA	Ulta Beauty	Pair Corr
0.31	RYSKF	Reysas Tasimacilik	Pair Corr

Related Correlations Analysis

	SNEGF	CGXEF	BSNLF	ARSLF	BSHPF	ECAOF	GXUSF	PBEGF	JROOF	ELXPF
SNEGF		-0.58	0.26	-0.74	0.52	0.46	0.4	-0.9	-0.64	0.0	SNEGF
CGXEF	-0.58		-0.12	0.59	-0.05	-0.74	-0.59	0.71	0.75	0.0	CGXEF
BSNLF	0.26	-0.12		-0.16	0.31	0.05	-0.12	-0.23	-0.17	0.0	BSNLF
ARSLF	-0.74	0.59	-0.16		-0.16	-0.44	-0.33	0.73	0.75	0.0	ARSLF
BSHPF	0.52	-0.05	0.31	-0.16		0.11	0.03	-0.36	-0.08	0.0	BSHPF
ECAOF	0.46	-0.74	0.05	-0.44	0.11		0.83	-0.49	-0.7	0.0	ECAOF
GXUSF	0.4	-0.59	-0.12	-0.33	0.03	0.83		-0.41	-0.6	0.0	GXUSF
PBEGF	-0.9	0.71	-0.23	0.73	-0.36	-0.49	-0.41		0.68	0.0	PBEGF
JROOF	-0.64	0.75	-0.17	0.75	-0.08	-0.7	-0.6	0.68		0.0	JROOF
ELXPF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ELXPF
	SNEGF	CGXEF	BSNLF	ARSLF	BSHPF	ECAOF	GXUSF	PBEGF	JROOF	ELXPF

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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

GXUSF	+ 0.83	ECAOF
JROOF	+ 0.75	CGXEF
JROOF	+ 0.75	ARSLF
PBEGF	+ 0.73	ARSLF
PBEGF	+ 0.71	CGXEF
JROOF	+ 0.68	PBEGF

High negative correlations

PBEGF	- 0.9	SNEGF
ECAOF	- 0.74	CGXEF
ARSLF	- 0.74	SNEGF
JROOF	- 0.7	ECAOF
JROOF	- 0.64	SNEGF
JROOF	- 0.6	GXUSF

Risk-Adjusted Indicators

There is a big difference between Petro Pink Sheet performing well and Petro Matad 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 Matad'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
SNEGF	7.33	3.22	0.00	1.04	0.00	0.00	0.00	0.00	170.64
CGXEF	3.79	(0.32)	0.00	(0.90)	0.00	0.00	10.00	(9.09)	22.11
BSNLF	56.74	25.63	0.46	(5.10)	21.06	(190.65)	85.19	(63.33)	843.63
ARSLF	6.76	0.58	0.03	(0.19)	8.97	(8.11)	16.67	(13.16)	66.19
BSHPF	2.70	0.49	0.04	(1.12)	3.29	(10.35)	13.33	(6.25)	32.65
ECAOF	5.90	2.17	0.18	(0.93)	3.79	(21.50)	25.00	(9.09)	70.99
GXUSF	1.59	0.87	0.00	(1.38)	0.00	0.00	0.00	0.00	33.33
PBEGF	4.10	(0.85)	0.00	(0.42)	0.00	0.00	11.11	(10.00)	40.00
JROOF	5.16	(0.11)	0.00	(0.01)	0.00	0.00	16.10	(9.09)	48.86
ELXPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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

G Gantulga	Legal Counsel	Profile
Michael Buck	CEO Director	Profile
Kurt Constenius	Chief Geophysicist	Profile
B Enkhzaya	Acting Accountant	Profile
Z Khishigsaikhan	Adm Officer	Profile
Nick Cousyn	Chief Officer	Profile

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