PETROSEA Correlations

Stocks . Germany . 
Stock . PETROSEA
2P0N Stock   1.65  0.00  0.00%   
The current 90-days correlation between PETROSEA and Apple Inc is -0.02 (i.e., Good diversification). The correlation of PETROSEA 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.

PETROSEA Correlation With Market

Good diversification

The correlation between PETROSEA and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PETROSEA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to PETROSEA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PETROSEA 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 PETROSEA - 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 PETROSEA to buy it.

Moving together with PETROSEA Stock

  0.91APC Apple IncPairCorr
  0.9APC Apple IncPairCorr
  0.91APC Apple IncPairCorr
  0.9APC Apple IncPairCorr
  0.91APC Apple IncPairCorr
  0.91APC Apple IncPairCorr
  0.92MSF MicrosoftPairCorr
  0.91MSF MicrosoftPairCorr
  0.91MSF MicrosoftPairCorr
  0.92MSF MicrosoftPairCorr
  0.83M5V EHEALTHPairCorr
  0.91MSF MicrosoftPairCorr
  0.892T9A TRAINLINE PLC LSPairCorr
  0.78SK3 Smurfit Kappa GroupPairCorr
  0.81LIE Sun Life FinancialPairCorr
  0.77EN3 EnbridgePairCorr
  0.82WD5A TRAVEL LEISURE DLPairCorr
  0.72WX1 Acadia Realty TrustPairCorr
  0.83PPB Flutter Entertainment PLCPairCorr
  0.86M4I MastercardPairCorr
  0.9SYY SyscoPairCorr
  0.78VA7A VERISK ANLYTCS APairCorr
  0.69CQD Charter CommunicationsPairCorr
  0.79HXL HexcelPairCorr
  0.7PNP PNC FinancialPairCorr
  0.774GE Grupo Mxico SABPairCorr
  0.850XHR Xenia Hotels ResortsPairCorr
  0.85UFH US FOODS HOLDINGPairCorr
  0.83C6TB CHINA BANK ADR20PairCorr
  0.72AF4 HANOVER INSURANCEPairCorr
  0.82QAN Qantas AirwaysPairCorr
  0.72PCG6 PG E P6PairCorr
  0.88AZ5 AutoZonePairCorr
  0.82HIP Park Hotels ResortsPairCorr

Moving against PETROSEA Stock

  0.69AXI Atos SEPairCorr
  0.42VAR1 Varta AGPairCorr
  0.72DBPD Xtrackers ShortDAXPairCorr
  0.46C4S1 CHINA STATE STRUPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between PETROSEA Stock performing well and PETROSEA 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 PETROSEA'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.88  0.27  0.21  1.71  0.89 
(0.97)
 1.81 
(1.75)
 4.97 
APC  0.84  0.27  0.20  4.25  0.97 
(0.93)
 1.88 
(1.73)
 5.24 
APC  0.84  0.28  0.23  5.35  0.82 
(0.93)
 2.06 
(1.76)
 4.50 
APC  0.91  0.29  0.19  20.62  1.05 
(0.98)
 2.22 
(1.83)
 6.45 
APC  0.95  0.29  0.25 (3.78) 0.75 
(1.12)
 2.83 
(1.69)
 5.24 
APC  0.83  0.28  0.21  1.38  1.00 
(0.93)
 1.88 
(1.61)
 6.46 
MSF  0.97  0.10  0.06  1.09  1.27 
(1.17)
 2.55 
(1.61)
 8.71 
MSF  1.06  0.10  0.05  1.29  1.41 
(1.17)
 2.35 
(1.92)
 9.11 
MSF  1.01  0.11  0.05  1.00  1.49 
(1.16)
 2.42 
(1.93)
 11.42 
MSF  0.91  0.13  0.07 (5.19) 1.33 
(0.99)
 2.04 
(1.49)
 8.79 

PETROSEA Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with PETROSEA stock to make a market-neutral strategy. Peer analysis of PETROSEA could also be used in its relative valuation, which is a method of valuing PETROSEA by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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