CONOCOPHILLIPS Correlations

YCP Stock

EUR 90.32 0.10 0.11%

The current 90-days correlation between CONOCOPHILLIPS and Sunshine Insurance Group is 0.27 (i.e., Modest diversification). The correlation of CONOCOPHILLIPS 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.

CONOCOPHILLIPS Correlation With Market

Very poor diversification

The correlation between CONOCOPHILLIPS and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CONOCOPHILLIPS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CONOCOPHILLIPS Stock

0.75	4I1	Philip Morris Intern	Pair Corr
0.77	SEH	SHIN ETSU CHEMICAL	Pair Corr
0.78	DP4B	AP Mller	Pair Corr
0.86	FPMB	FREEPORT MCMORAN	Pair Corr
0.89	XMF	STOMO MITSUI FINL	Pair Corr
0.9	SCL	Schlumberger Limited	Pair Corr
0.83	JMI	Deep Yellow Limited	Pair Corr
0.75	FTD	FINDE TUBIZE ACTNOUV	Pair Corr
0.89	XSI	Sanyo Chemical Industries	Pair Corr
0.82	4OQ1	AGNC Investment Corp	Pair Corr
0.71	UUEC	United Utilities	Pair Corr
0.84	8SF	SLIGRO FOOD GROUP	Pair Corr
0.65	E908	Lyxor 1	Pair Corr
0.74	DBPE	Xtrackers LevDAX	Pair Corr

Moving against CONOCOPHILLIPS Stock

0.77	DBPD	Xtrackers ShortDAX	Pair Corr
0.67	ABL	Abbott Laboratories	Pair Corr
0.48	HK2C	Hong Kong Exchanges	Pair Corr

Related Correlations Analysis

	H0O	E57	WSV2	S49	HLG	CQD	QBE	02G
H0O		0.42	0.71	0.46	-0.59	-0.22	0.72	0.07	H0O
E57	0.42		0.15	0.43	-0.64	0.06	0.64	-0.41	E57
WSV2	0.71	0.15		0.39	-0.43	-0.32	0.43	0.54	WSV2
S49	0.46	0.43	0.39		-0.33	0.26	0.31	-0.03	S49
HLG	-0.59	-0.64	-0.43	-0.33		0.07	-0.61	0.17	HLG
CQD	-0.22	0.06	-0.32	0.26	0.07		0.03	-0.35	CQD
QBE	0.72	0.64	0.43	0.31	-0.61	0.03		-0.21	QBE
02G	0.07	-0.41	0.54	-0.03	0.17	-0.35	-0.21		02G
	H0O	E57	WSV2	S49	HLG	CQD	QBE	02G

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

QBE	+ 0.72	H0O
WSV2	+ 0.71	H0O
QBE	+ 0.64	E57
02G	+ 0.54	WSV2
S49	+ 0.46	H0O
S49	+ 0.43	E57

High negative correlations

HLG	- 0.64	E57
QBE	- 0.61	HLG
HLG	- 0.59	H0O
HLG	- 0.43	WSV2
02G	- 0.41	E57
02G	- 0.35	CQD

Risk-Adjusted Indicators

There is a big difference between CONOCOPHILLIPS Stock performing well and CONOCOPHILLIPS 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 CONOCOPHILLIPS'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
H0O	2.51	0.45	0.09	0.44	3.66	(2.68)	9.31	(9.22)	24.57
E57	1.95	0.35	0.09	(8.86)	1.64	(3.73)	4.76	(2.63)	14.30
WSV2	1.63	0.61	0.37	5.07	0.81	(2.37)	6.44	(2.21)	11.82
S49	1.67	(0.19)	0.00	(0.09)	0.00	0.00	4.19	(2.97)	19.97
HLG	2.45	(0.05)	0.00	0.23	0.00	0.00	5.26	(5.26)	21.92
CQD	1.90	(0.06)	0.00	(0.07)	0.00	0.00	3.82	(4.85)	16.05
QBE	1.18	0.09	0.03	0.24	1.33	(1.49)	2.65	(2.70)	6.36
02G	2.61	0.28	0.06	1.17	2.35	(4.85)	5.88	(4.55)	22.05

Be your own money manager

Our tools can tell you how much better you can do entering a position in CONOCOPHILLIPS 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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