CONOCOPHILLIPS (YCPSG) Correlations

YCP Stock

106.52 3.94 3.84%

The current 90-days correlation between CONOCOPHILLIPS (YCPSG) and Public Storage is 0.11 (i.e., Average diversification). The correlation of CONOCOPHILLIPS (YCPSG) 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 (YCPSG) Correlation With Market

Significant diversification

The correlation between CONOCOPHILLIPS and DJI is 0.01 (i.e., Significant 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 (YCPSG) 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 (YCPSG) 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 (YCPSG) - 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

0.64	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.76	FHL	Federal Home Loan	Pair Corr
0.64	SID	State Bank	Pair Corr

Moving against CONOCOPHILLIPS Stock

0.37	TKDA	Takeda Pharmaceutical	Pair Corr
0.34	LLD2	Lloyds Banking Group	Pair Corr

Related Correlations Analysis

	PUP	D6H	XY81	85S	TLIK	E1V	AP3
PUP		0.31	-0.31	-0.23	-0.1	0.03	0.13	PUP
D6H	0.31		0.35	-0.1	-0.11	-0.17	0.56	D6H
XY81	-0.31	0.35		0.66	-0.13	-0.43	0.6	XY81
85S	-0.23	-0.1	0.66		-0.05	-0.45	0.31	85S
TLIK	-0.1	-0.11	-0.13	-0.05		0.7	-0.62	TLIK
E1V	0.03	-0.17	-0.43	-0.45	0.7		-0.8	E1V
AP3	0.13	0.56	0.6	0.31	-0.62	-0.8		AP3
	PUP	D6H	XY81	85S	TLIK	E1V	AP3

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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

E1V	+ 0.7	TLIK
85S	+ 0.66	XY81
AP3	+ 0.6	XY81
AP3	+ 0.56	D6H
XY81	+ 0.35	D6H
D6H	+ 0.31	PUP

High negative correlations

AP3	- 0.8	E1V
AP3	- 0.62	TLIK
E1V	- 0.45	85S
E1V	- 0.43	XY81
XY81	- 0.31	PUP
85S	- 0.23	PUP

Risk-Adjusted Indicators

There is a big difference between CONOCOPHILLIPS Stock performing well and CONOCOPHILLIPS (YCPSG) 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 (YCPSG)'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
PUP	1.09	0.14	0.01	(1.01)	1.22	(1.13)	3.09	(2.18)	6.54
D6H	1.76	0.21	0.04	(0.86)	1.86	(2.13)	3.85	(3.29)	13.58
XY81	2.28	(0.03)	(0.03)	0.01	3.08	(2.36)	4.70	(4.04)	18.33
85S	1.30	(0.01)	(0.02)	0.07	2.86	(1.68)	2.61	(2.13)	21.06
TLIK	1.98	(0.30)	0.00	(1.85)	0.00	0.00	4.21	(5.26)	12.14
E1V	1.60	(0.32)	0.00	(0.66)	0.00	0.00	3.33	(3.42)	12.51
AP3	0.95	0.31	0.26	0.69	0.47	(1.16)	1.98	(1.29)	11.35

Be your own money manager

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