Rubellite Energy Correlations

RBY Stock

2.63 0.05 1.87%

The current 90-days correlation between Rubellite Energy and Alvopetro Energy is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Rubellite Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Rubellite Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Rubellite Energy Correlation With Market

Very weak diversification

The correlation between Rubellite Energy and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rubellite Energy and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Rubellite Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Rubellite Energy 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 Rubellite Energy - 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 Rubellite Energy to buy it.

Moving together with Rubellite Stock

0.62	ENB-PFU	Enbridge Pref L	Pair Corr
0.73	BNP	BNP Paribas CDR	Pair Corr
0.76	BMO	Bank of Montreal Earnings Call This Week	Pair Corr
0.63	TI	Titan Mining Corp	Pair Corr
0.75	MKO	Mako Mining Corp	Pair Corr
0.83	AIM	Aimia Inc	Pair Corr
0.73	CWEB	Charlottes Web Holdings	Pair Corr
0.78	BTE	Baytex Energy Corp	Pair Corr
0.93	IPO	InPlay Oil Corp	Pair Corr
0.74	DAN	Arianne Phosphate	Pair Corr
0.89	BBB	Brixton Metals Earnings Call This Week	Pair Corr
0.64	BTO	B2Gold Corp	Pair Corr
0.84	TMG	Thermal Energy Inter	Pair Corr
0.85	COLA	Coca Cola	Pair Corr
0.79	CU	Canadian Utilities Earnings Call This Week	Pair Corr
0.66	WAST	Waste Management CDR	Pair Corr
0.82	ATH	Athabasca Oil Corp	Pair Corr
0.88	TVE	Tamarack Valley Energy Earnings Call This Week	Pair Corr

Moving against Rubellite Stock

0.53	SAGE	Sage Potash Corp Earnings Call This Week	Pair Corr
0.49	ENS-PA	E Split Corp	Pair Corr
0.4	AMZN	Amazon CDR	Pair Corr
0.33	BRK	Berkshire Hathaway CDR	Pair Corr
0.4	AMZN	Amazon CDR	Pair Corr

Related Correlations Analysis

	ALV	JOY	PRQ	KEI	GASX	HME	FO	PNE	SEI	RECO
ALV		-0.05	-0.22	-0.48	0.77	0.38	0.86	-0.88	-0.17	0.32	ALV
JOY	-0.05		-0.31	0.57	0.09	0.72	-0.19	0.11	0.63	-0.76	JOY
PRQ	-0.22	-0.31		0.17	-0.4	-0.12	0.01	0.38	-0.13	0.26	PRQ
KEI	-0.48	0.57	0.17		-0.47	0.32	-0.55	0.62	0.36	-0.66	KEI
GASX	0.77	0.09	-0.4	-0.47		0.27	0.72	-0.83	0.09	0.24	GASX
HME	0.38	0.72	-0.12	0.32	0.27		0.25	-0.25	0.31	-0.44	HME
FO	0.86	-0.19	0.01	-0.55	0.72	0.25		-0.83	-0.2	0.45	FO
PNE	-0.88	0.11	0.38	0.62	-0.83	-0.25	-0.83		0.15	-0.34	PNE
SEI	-0.17	0.63	-0.13	0.36	0.09	0.31	-0.2	0.15		-0.58	SEI
RECO	0.32	-0.76	0.26	-0.66	0.24	-0.44	0.45	-0.34	-0.58		RECO
	ALV	JOY	PRQ	KEI	GASX	HME	FO	PNE	SEI	RECO

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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

FO	+ 0.86	ALV
GASX	+ 0.77	ALV
HME	+ 0.72	JOY
FO	+ 0.72	GASX
SEI	+ 0.63	JOY
PNE	+ 0.62	KEI

High negative correlations

PNE	- 0.88	ALV
PNE	- 0.83	FO
PNE	- 0.83	GASX
RECO	- 0.76	JOY
RECO	- 0.66	KEI
RECO	- 0.58	SEI

Risk-Adjusted Indicators

There is a big difference between Rubellite Stock performing well and Rubellite Energy 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 Rubellite Energy'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
ALV	1.38	0.47	0.25	3.07	1.07	(1.59)	3.25	(2.40)	6.99
JOY	2.15	0.11	0.00	(0.16)	2.67	(2.31)	4.93	(4.87)	16.75
PRQ	1.62	0.01	(0.01)	0.11	1.88	(1.95)	4.00	(3.03)	11.32
KEI	1.97	(0.13)	0.00	(0.39)	0.00	0.00	4.41	(3.85)	10.68
GASX	2.92	0.41	0.11	0.84	2.92	(3.78)	6.12	(5.26)	24.73
HME	1.28	0.12	0.01	(0.30)	2.03	(1.51)	3.08	(2.09)	11.81
FO	2.37	0.45	0.08	0.75	2.24	(5.12)	5.26	(5.00)	12.96
PNE	1.74	(0.17)	0.00	(4.76)	0.00	0.00	3.95	(3.95)	12.30
SEI	3.39	0.11	0.02	0.21	4.03	(5.26)	8.16	(5.66)	32.08
RECO	4.96	1.01	0.18	0.68	4.91	(6.41)	13.79	(7.53)	51.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in Rubellite Energy 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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Rubellite Energy Corporate Management

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

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