Eco Oil Correlations

ECO Stock

11.00 0.35 3.08%

The current 90-days correlation between Eco Oil Gas and Zoom Video Communications is 0.05 (i.e., Significant diversification). The correlation of Eco Oil 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.

Eco Oil Correlation With Market

Significant diversification

The correlation between Eco Oil Gas and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eco Oil Gas and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Eco Stock

0.42	DOM	Dominos Pizza Group	Pair Corr
0.36	QBT	Quantum Blockchain	Pair Corr
0.53	CLCO	Cloudcoco Group PLC	Pair Corr
0.5	XLM	XLMedia PLC	Pair Corr
0.43	LABS	Life Science REIT	Pair Corr
0.4	0HJI	Automatic Data Processing	Pair Corr

Related Correlations Analysis

	0A1O	0KTI	0Y5F	QBT	SMDS	BGEO	BLU	RR
0A1O		0.89	-0.86	0.72	0.89	0.91	-0.11	0.63	0A1O
0KTI	0.89		-0.79	0.56	0.78	0.79	-0.04	0.74	0KTI
0Y5F	-0.86	-0.79		-0.77	-0.82	-0.9	0.23	-0.53	0Y5F
QBT	0.72	0.56	-0.77		0.75	0.84	-0.42	0.31	QBT
SMDS	0.89	0.78	-0.82	0.75		0.93	-0.24	0.43	SMDS
BGEO	0.91	0.79	-0.9	0.84	0.93		-0.34	0.46	BGEO
BLU	-0.11	-0.04	0.23	-0.42	-0.24	-0.34		0.02	BLU
RR	0.63	0.74	-0.53	0.31	0.43	0.46	0.02		RR
	0A1O	0KTI	0Y5F	QBT	SMDS	BGEO	BLU	RR

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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

BGEO	+ 0.93	SMDS
BGEO	+ 0.91	0A1O
0KTI	+ 0.89	0A1O
SMDS	+ 0.89	0A1O
BGEO	+ 0.84	QBT
BGEO	+ 0.79	0KTI

High negative correlations

BGEO	- 0.9	0Y5F
0Y5F	- 0.86	0A1O
SMDS	- 0.82	0Y5F
0Y5F	- 0.79	0KTI
QBT	- 0.77	0Y5F
RR	- 0.53	0Y5F

Risk-Adjusted Indicators

There is a big difference between Eco Stock performing well and Eco Oil 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 Eco Oil'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
0A1O	1.51	0.37	0.13	1.32	2.13	(1.51)	3.63	(3.40)	13.63
0KTI	0.80	0.27	0.30	1.54	0.52	(0.98)	2.00	(1.21)	6.22
0Y5F	0.75	(0.18)	0.00	(7.57)	0.00	0.00	1.27	(1.98)	5.20
QBT	3.74	0.56	0.08	(2.33)	3.79	(7.42)	11.43	(6.67)	26.90
SMDS	1.24	0.25	0.17	(1.00)	1.08	(1.52)	2.50	(2.06)	16.69
BGEO	1.59	0.32	0.15	2.07	1.69	(2.02)	3.46	(3.07)	11.81
BLU	3.37	0.09	0.01	0.08	5.68	(18.67)	14.29	(14.29)	65.00
RR	1.17	0.14	0.08	(0.43)	1.24	(1.35)	2.81	(2.45)	7.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in Eco Oil 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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Eco Oil Corporate Management

Elected by the shareholders, the Eco Oil's board of directors comprises two types of representatives: Eco Oil inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Eco. The board's role is to monitor Eco Oil's management team and ensure that shareholders' interests are well served. Eco Oil's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Eco Oil's outside directors are responsible for providing unbiased perspectives on the board's policies.

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