Petro Rio Correlations

PTRRY Stock

USD 7.15 0.11 1.56%

The current 90-days correlation between Petro Rio SA and Saipem SpA is -0.21 (i.e., Very good 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

Good diversification

The correlation between Petro Rio SA and DJI is -0.11 (i.e., Good 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 against Petro Pink Sheet

0.45	TATT	Tat Techno	Pair Corr
0.37	CURLF	Curaleaf Holdings	Pair Corr
0.31	26442TAG2	US26442TAG22	Pair Corr
0.31	ONDS	Ondas Holdings Aggressive Push	Pair Corr
0.53	WOLF	Wolfspeed,	Pair Corr
0.42	BLAGF	Blue Lagoon Resources	Pair Corr

Related Correlations Analysis

	SAPMF	MGYOY	DLKGF	GZPZF	VOPKY	DKDRF	SUBCY	VOPKF	DELKY
SAPMF		-0.45	-0.49	0.0	0.39	-0.06	0.78	-0.28	-0.43	SAPMF
MGYOY	-0.45		0.66	0.0	-0.3	0.17	-0.32	-0.04	0.79	MGYOY
DLKGF	-0.49	0.66		0.0	-0.54	0.39	-0.45	-0.2	0.7	DLKGF
GZPZF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GZPZF
VOPKY	0.39	-0.3	-0.54	0.0		-0.09	0.21	0.02	-0.42	VOPKY
DKDRF	-0.06	0.17	0.39	0.0	-0.09		-0.05	-0.15	0.45	DKDRF
SUBCY	0.78	-0.32	-0.45	0.0	0.21	-0.05		-0.5	-0.32	SUBCY
VOPKF	-0.28	-0.04	-0.2	0.0	0.02	-0.15	-0.5		-0.02	VOPKF
DELKY	-0.43	0.79	0.7	0.0	-0.42	0.45	-0.32	-0.02		DELKY
	SAPMF	MGYOY	DLKGF	GZPZF	VOPKY	DKDRF	SUBCY	VOPKF	DELKY

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

DELKY	+ 0.79	MGYOY
SUBCY	+ 0.78	SAPMF
DELKY	+ 0.7	DLKGF
DLKGF	+ 0.66	MGYOY
DELKY	+ 0.45	DKDRF
VOPKY	+ 0.39	SAPMF

High negative correlations

VOPKY	- 0.54	DLKGF
VOPKF	- 0.5	SUBCY
DLKGF	- 0.49	SAPMF
SUBCY	- 0.45	DLKGF
MGYOY	- 0.45	SAPMF
DELKY	- 0.43	SAPMF

Risk-Adjusted Indicators

There is a big difference between Petro Pink Sheet 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SAPMF	1.18	0.06	0.00	0.19	1.53	(4.44)	5.49	(3.27)	12.98
MGYOY	1.63	0.08	0.03	0.17	1.67	(1.94)	3.87	(2.44)	8.70
DLKGF	0.94	0.20	0.03	(3.03)	1.19	(3.30)	3.51	(2.60)	13.37
GZPZF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VOPKY	0.32	(0.01)	0.00	0.02	0.00	0.00	0.00	(0.81)	6.82
DKDRF	1.66	0.44	0.06	(0.24)	1.94	(3.76)	5.70	(4.85)	21.81
SUBCY	1.14	0.01	(0.01)	0.09	1.30	(1.33)	2.48	(2.32)	5.96
VOPKF	0.35	(0.02)	0.00	0.16	0.00	0.00	0.58	(0.23)	12.56
DELKY	1.47	0.27	0.06	(6.49)	1.78	(2.29)	4.37	(2.84)	11.97

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

Roberto Monteiro	Investor CEO	Profile
Francisco Fernandes	COO Board	Profile
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Rafael Sierra	Accountant	Profile
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