Phillips Correlations

Stocks . Germany . 
Stock . Phillips 66
PSX Stock  EUR 0.03  0.01  28.57%   
The current 90-days correlation between Phillips 66 and ROMERIKE SPAREBANK NK is 0.02 (i.e., Significant diversification). The correlation of Phillips 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.

Phillips Correlation With Market

Excellent diversification

The correlation between Phillips 66 and DJI is -0.7 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Phillips 66 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Phillips could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Phillips 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 Phillips - 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 Phillips 66 to buy it.

Moving against Phillips Stock

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Related Correlations Analysis


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

HCMA
+ 0.88
MIZ
YHA
+ 0.88
MIZ
SON1
+ 0.87
5F3
YHA
+ 0.84
HCMA
92I
+ 0.76
MIZ
HCMA
+ 0.75
92I
  

High negative correlations

BFP
- 0.84
SON1
92I
- 0.81
SON1
BFP
- 0.75
5F3
5F3
- 0.7
TM2
HCMA
- 0.68
SON1
92I
- 0.67
5F3

Risk-Adjusted Indicators

There is a big difference between Phillips Stock performing well and Phillips 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 Phillips' 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 Phillips 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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Phillips Corporate Management

Elected by the shareholders, the Phillips' board of directors comprises two types of representatives: Phillips inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Phillips. The board's role is to monitor Phillips' management team and ensure that shareholders' interests are well served. Phillips' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Phillips' outside directors are responsible for providing unbiased perspectives on the board's policies.
Billy TangInvestor OfficerProfile
Ying LuChief OfficerProfile
Jungang WangEx COOProfile
Che LinChief OfficerProfile
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