Shell PLC Correlations
| SHELL Stock | 772.00 28.00 3.50% |
The current 90-days correlation between Shell PLC and Moneta Money Bank is -0.16 (i.e., Good diversification). The correlation of Shell PLC 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.
Shell PLC Correlation With Market
Good diversification
The correlation between Shell PLC and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shell PLC and DJI in the same portfolio, assuming nothing else is changed.
Shell |
The ability to find closely correlated positions to Shell PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shell PLC 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 Shell PLC - 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 Shell PLC to buy it.
Moving together with Shell Stock
Moving against Shell Stock
| 0.87 | KOFOL | Kofola CeskoSlovensko | PairCorr |
| 0.81 | KLIKY | MT 1997 AS | PairCorr |
| 0.62 | PRAB | Prabos Plus as | PairCorr |
| 0.35 | CEZ | Cez AS | PairCorr |
Related Correlations Analysis
Risk-Adjusted Indicators
There is a big difference between Shell Stock performing well and Shell PLC 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 Shell PLC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MONET | 0.83 | 0.28 | 0.24 | (2.54) | 0.53 | 2.08 | 4.90 | |||
| UQA | 0.94 | 0.32 | 0.17 | 1.53 | 0.58 | 2.45 | 13.08 | |||
| VIG | 1.45 | 0.60 | 0.34 | 4.50 | 0.87 | 5.02 | 12.17 | |||
| ERBAG | 0.95 | 0.30 | 0.21 | 1.06 | 0.84 | 2.67 | 8.27 | |||
| KOMB | 0.77 | 0.16 | 0.11 | 4.50 | 0.75 | 1.62 | 5.24 |
Shell PLC Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Shell PLC stock to make a market-neutral strategy. Peer analysis of Shell PLC could also be used in its relative valuation, which is a method of valuing Shell PLC by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |