Santos Correlations
| STOSF Stock | USD 4.50 0.15 3.23% |
The current 90-days correlation between Santos and Permian Resources is 0.01 (i.e., Significant diversification). The correlation of Santos 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.
Santos Correlation With Market
Average diversification
The correlation between Santos and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Santos and DJI in the same portfolio, assuming nothing else is changed.
Santos |
The ability to find closely correlated positions to Santos could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Santos 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 Santos - 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 Santos to buy it.
Moving together with Santos Pink Sheet
| 0.63 | OXY | Occidental Petroleum | PairCorr |
| 0.76 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.68 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.84 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.69 | PFE | Pfizer Inc Aggressive Push | PairCorr |
Moving against Santos Pink Sheet
| 0.81 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.76 | WMT | Walmart Aggressive Push | PairCorr |
| 0.71 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.71 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.71 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.7 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.68 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.68 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.61 | HPQ | HP Inc | PairCorr |
| 0.39 | EOG | EOG Resources | PairCorr |
| 0.35 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
Related Correlations Analysis
| -0.21 | 0.92 | 0.95 | 0.32 | 0.65 | PR | ||
| -0.21 | -0.01 | -0.27 | 0.77 | 0.3 | DVN | ||
| 0.92 | -0.01 | 0.87 | 0.5 | 0.77 | EOG | ||
| 0.95 | -0.27 | 0.87 | 0.23 | 0.56 | CTRA | ||
| 0.32 | 0.77 | 0.5 | 0.23 | 0.63 | FANG | ||
| 0.65 | 0.3 | 0.77 | 0.56 | 0.63 | COP | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Santos Pink Sheet performing well and Santos 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 Santos' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PR | 1.62 | 0.05 | 0.02 | 0.19 | 1.97 | 2.90 | 8.22 | |||
| DVN | 1.31 | (0.30) | 0.00 | (0.37) | 0.00 | 2.14 | 7.08 | |||
| EOG | 1.16 | (0.01) | (0.04) | 0.11 | 1.56 | 1.92 | 9.26 | |||
| CTRA | 1.16 | 0.08 | 0.03 | 0.24 | 1.34 | 2.27 | 8.03 | |||
| FANG | 1.68 | (0.20) | 0.00 | (0.17) | 0.00 | 3.00 | 9.60 | |||
| COP | 1.29 | (0.08) | 0.00 | (0.09) | 0.00 | 2.59 | 11.42 |
Be your own money manager
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