Topaz Energy Correlations

TPZEF Stock

USD 17.76 0.10 0.56%

The current 90-days correlation between Topaz Energy Corp and Williams Companies is 0.44 (i.e., Very weak diversification). The correlation of Topaz Energy 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.

Topaz Energy Correlation With Market

Modest diversification

The correlation between Topaz Energy Corp and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Topaz Energy Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Topaz 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 Topaz 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 Topaz 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 Topaz Energy Corp to buy it.

Moving together with Topaz Pink Sheet

0.86

TRP

TC Energy Corp Sell-off Trend

Pair Corr

Moving against Topaz Pink Sheet

0.53	TRP-PB	TC Energy Corp	Pair Corr
0.51	TRP-PC	TC Energy Corp	Pair Corr
0.43	EBBNF	Enbridge Earnings Call This Week	Pair Corr
0.63	LULU	Lululemon Athletica	Pair Corr
0.6	HSBC	HSBC Holdings PLC	Pair Corr
0.56	ADPT	Adaptive Biotechnologies	Pair Corr
0.56	URBN	Urban Outfitters	Pair Corr
0.52	MSFT	Microsoft Downward Rally	Pair Corr
0.51	KOPN	Kopin	Pair Corr
0.43	DXPE	DXP Enterprises	Pair Corr
0.64	ULTA	Ulta Beauty	Pair Corr
0.62	EAWD	Energy and Water	Pair Corr
0.5	AAL	American Airlines	Pair Corr
0.48	ADSE	Ads Tec Energy	Pair Corr

Related Correlations Analysis

	WMB	EPD	OKE	ET	ENB	TRP	KMI	MPLX	MMP
WMB		0.78	0.82	0.66	0.84	0.6	0.92	0.76	0.6	WMB
EPD	0.78		0.6	0.91	0.92	0.19	0.85	0.98	0.88	EPD
OKE	0.82	0.6		0.34	0.55	0.78	0.63	0.52	0.33	OKE
ET	0.66	0.91	0.34		0.86	-0.05	0.84	0.94	0.92	ET
ENB	0.84	0.92	0.55	0.86		0.31	0.9	0.92	0.82	ENB
TRP	0.6	0.19	0.78	-0.05	0.31		0.33	0.12	-0.08	TRP
KMI	0.92	0.85	0.63	0.84	0.9	0.33		0.85	0.74	KMI
MPLX	0.76	0.98	0.52	0.94	0.92	0.12	0.85		0.88	MPLX
MMP	0.6	0.88	0.33	0.92	0.82	-0.08	0.74	0.88		MMP
	WMB	EPD	OKE	ET	ENB	TRP	KMI	MPLX	MMP

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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

MPLX	+ 0.98	EPD
MPLX	+ 0.94	ET
KMI	+ 0.92	WMB
ENB	+ 0.92	EPD
MMP	+ 0.92	ET
MPLX	+ 0.92	ENB

High negative correlations

MMP	- 0.08	TRP
TRP	- 0.05	ET

Risk-Adjusted Indicators

There is a big difference between Topaz Pink Sheet performing well and Topaz 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 Topaz 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
WMB	1.30	0.10	0.02	0.35	2.02	(1.40)	2.52	(3.13)	12.72
EPD	0.87	0.24	0.17	1.02	0.75	(1.04)	2.29	(1.51)	5.09
OKE	1.32	0.00	(0.02)	0.10	1.76	(1.35)	2.90	(3.56)	8.37
ET	1.16	0.37	0.19	0.87	1.22	(1.27)	3.06	(2.18)	9.67
ENB	0.76	0.12	0.05	0.62	0.75	(0.84)	1.62	(1.40)	4.33
TRP	0.97	(0.06)	0.00	(0.23)	0.00	0.00	1.88	(2.11)	6.72
KMI	1.27	0.18	0.06	0.86	1.86	(1.52)	2.59	(2.41)	15.92
MPLX	1.09	0.29	0.19	0.74	0.90	(1.32)	2.47	(1.86)	5.25
MMP	0.95	0.24	0.17	0.97	0.71	(1.09)	1.95	(1.58)	15.46

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

Robert Yurkovich	Ex Exploration	Profile
Marty Staples	CEO Pres	Profile
Warren Orban	Bus Mang	Profile
Susie Cooke	F Mang	Profile

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