Source Energy Correlations
| SHLE Stock | CAD 15.72 0.53 3.49% |
The current 90-days correlation between Source Energy Services and ACT Energy Technologies is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Source Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Source Energy Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Source Energy Correlation With Market
Weak diversification
The correlation between Source Energy Services and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Source Energy Services and DJI in the same portfolio, assuming nothing else is changed.
Source |
The ability to find closely correlated positions to Source 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 Source 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 Source 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 Source Energy Services to buy it.
Moving together with Source Stock
| 0.78 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.67 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.68 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.83 | MRT-UN | Morguard Real Estate | PairCorr |
| 0.81 | ELD | Eldorado Gold Corp | PairCorr |
Moving against Source Stock
| 0.78 | DII-A | Dorel Industries ClA | PairCorr |
| 0.66 | RCI-A | Rogers Communications | PairCorr |
| 0.46 | SAGE | Sage Potash Corp | PairCorr |
| 0.36 | GSTM | Goldstorm Metals Corp | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Source Stock performing well and Source 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 Source 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ACX | 2.21 | 0.05 | (0.01) | (0.06) | 2.85 | 4.83 | 13.16 | |||
| PSD | 1.90 | 0.03 | 0.00 | 0.14 | 2.47 | 3.63 | 13.81 | |||
| GTE | 2.84 | (0.10) | 0.00 | 0.28 | 0.00 | 5.52 | 23.82 | |||
| RECO | 3.96 | 1.30 | 0.29 | 1.46 | 3.02 | 10.59 | 45.03 | |||
| AEC | 5.81 | (0.33) | 0.00 | 8.42 | 0.00 | 13.81 | 34.72 | |||
| HME | 1.46 | (0.14) | 0.00 | 1.30 | 0.00 | 2.56 | 12.29 | |||
| KEI | 1.71 | (0.52) | 0.00 | 22.59 | 0.00 | 3.27 | 11.60 | |||
| MGA | 4.55 | 0.67 | 0.13 | 2.35 | 4.04 | 11.90 | 29.58 | |||
| SEI | 3.45 | (0.48) | 0.00 | (0.55) | 0.00 | 10.20 | 32.08 | |||
| TPL | 3.86 | 0.38 | 0.04 | (0.51) | 4.93 | 11.71 | 31.02 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Source 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.Did you try this?
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Source Energy Corporate Executives
Elected by the shareholders, the Source Energy's board of directors comprises two types of representatives: Source Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Source. The board's role is to monitor Source Energy's management team and ensure that shareholders' interests are well served. Source 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, Source Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.