Crown LNG Correlations

CGBS Stock

0.33 0.01 3.13%

The current 90-days correlation between Crown LNG Holdings and Petroleo Brasileiro Petrobras is 0.15 (i.e., Average diversification). The correlation of Crown LNG 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.

Crown LNG Correlation With Market

Average diversification

The correlation between Crown LNG Holdings and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Crown LNG Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Crown LNG Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Crown Stock

0.63	CGBSW	Crown LNG Holdings	Pair Corr
0.65	EP	Empire Petroleum Corp	Pair Corr

Moving against Crown Stock

0.44	TTE	TotalEnergies SE ADR	Pair Corr
0.35	E	Eni SpA ADR	Pair Corr
0.31	EQNR	Equinor ASA ADR	Pair Corr
0.54	EU	enCore Energy Corp	Pair Corr
0.5	TK	Teekay	Pair Corr

Related Correlations Analysis

	PBR	EC	PBR-A	EQNR	E	TTE	NFG	YPF	SHEL	BP
PBR		0.87	0.99	0.82	0.54	0.6	-0.34	-0.29	0.58	0.78	PBR
EC	0.87		0.85	0.83	0.71	0.79	-0.55	-0.57	0.7	0.92	EC
PBR-A	0.99	0.85		0.82	0.53	0.56	-0.34	-0.25	0.61	0.76	PBR-A
EQNR	0.82	0.83	0.82		0.69	0.68	-0.25	-0.39	0.62	0.81	EQNR
E	0.54	0.71	0.53	0.69		0.9	-0.49	-0.73	0.84	0.88	E
TTE	0.6	0.79	0.56	0.68	0.9		-0.59	-0.85	0.67	0.89	TTE
NFG	-0.34	-0.55	-0.34	-0.25	-0.49	-0.59		0.64	-0.49	-0.48	NFG
YPF	-0.29	-0.57	-0.25	-0.39	-0.73	-0.85	0.64		-0.42	-0.66	YPF
SHEL	0.58	0.7	0.61	0.62	0.84	0.67	-0.49	-0.42		0.8	SHEL
BP	0.78	0.92	0.76	0.81	0.88	0.89	-0.48	-0.66	0.8		BP
	PBR	EC	PBR-A	EQNR	E	TTE	NFG	YPF	SHEL	BP

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

PBR-A	+ 0.99	PBR
BP	+ 0.92	EC
TTE	+ 0.9	E
BP	+ 0.89	TTE
BP	+ 0.88	E
EC	+ 0.87	PBR

High negative correlations

YPF	- 0.85	TTE
YPF	- 0.73	E
BP	- 0.66	YPF
NFG	- 0.59	TTE
YPF	- 0.57	EC
NFG	- 0.55	EC

Risk-Adjusted Indicators

There is a big difference between Crown Stock performing well and Crown LNG 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 Crown LNG'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
PBR	1.17	(0.13)	0.00	(0.31)	0.00	0.00	1.92	(2.53)	6.04
EC	1.39	(0.43)	0.00	(1.28)	0.00	0.00	2.46	(3.86)	8.46
PBR-A	1.16	(0.14)	0.00	(0.33)	0.00	0.00	2.27	(2.81)	5.66
EQNR	1.50	(0.14)	0.00	1.31	0.00	0.00	3.30	(4.50)	8.46
E	0.97	(0.19)	0.00	(2.80)	0.00	0.00	1.51	(2.34)	4.90
TTE	1.01	(0.30)	0.00	(2.32)	0.00	0.00	1.62	(2.57)	7.40
NFG	1.02	0.04	(0.01)	0.19	1.24	(1.14)	2.82	(1.75)	8.65
YPF	2.10	0.88	0.51	1.17	1.08	(2.76)	5.61	(2.51)	10.08
SHEL	0.99	(0.20)	0.00	(0.74)	0.00	0.00	1.42	(2.79)	5.88
BP	1.17	(0.29)	0.00	(0.53)	0.00	0.00	1.68	(3.34)	7.70

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC