Ithaca Energy Correlations

ITH Stock

104.00 0.60 0.58%

The current 90-days correlation between Ithaca Energy PLC and Alliance Data Systems is -0.05 (i.e., Good diversification). The correlation of Ithaca Energy 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.

Ithaca Energy Correlation With Market

Average diversification

The correlation between Ithaca Energy PLC and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ithaca Energy PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Ithaca Stock

0.38	KAP	National Atomic	Pair Corr
0.33	0KTI	Enbridge	Pair Corr

Related Correlations Analysis

	0HCR	0R8S	0N7I	0GZK	LIO	LIT	0HW4	0R6V
0HCR		-0.7	0.17	-0.31	-0.38	0.41	0.72	0.26	0HCR
0R8S	-0.7		-0.34	-0.11	0.81	-0.81	-0.92	-0.7	0R8S
0N7I	0.17	-0.34		0.61	-0.46	0.51	0.17	0.63	0N7I
0GZK	-0.31	-0.11	0.61		-0.49	0.5	-0.01	0.57	0GZK
LIO	-0.38	0.81	-0.46	-0.49		-0.92	-0.67	-0.83	LIO
LIT	0.41	-0.81	0.51	0.5	-0.92		0.67	0.84	LIT
0HW4	0.72	-0.92	0.17	-0.01	-0.67	0.67		0.54	0HW4
0R6V	0.26	-0.7	0.63	0.57	-0.83	0.84	0.54		0R6V
	0HCR	0R8S	0N7I	0GZK	LIO	LIT	0HW4	0R6V

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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

0R6V	+ 0.84	LIT
LIO	+ 0.81	0R8S
0HW4	+ 0.72	0HCR
0HW4	+ 0.67	LIT
0R6V	+ 0.63	0N7I
0GZK	+ 0.61	0N7I

High negative correlations

LIT	- 0.92	LIO
0HW4	- 0.92	0R8S
0R6V	- 0.83	LIO
LIT	- 0.81	0R8S
0R6V	- 0.7	0R8S
0R8S	- 0.7	0HCR

Risk-Adjusted Indicators

There is a big difference between Ithaca Stock performing well and Ithaca Energy 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 Ithaca Energy'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
0HCR	2.17	(0.21)	(0.01)	0.04	3.09	(2.42)	3.98	(3.15)	21.22
0R8S	0.82	(0.17)	0.00	(1.19)	0.00	0.00	1.37	(1.55)	7.55
0N7I	1.16	0.10	(0.01)	0.88	1.12	(1.36)	2.68	(1.83)	6.32
0GZK	2.07	0.25	0.07	2.05	1.82	(2.79)	6.53	(3.30)	17.27
LIO	1.65	(0.43)	0.00	3.80	0.00	0.00	2.99	(3.59)	11.70
LIT	1.59	0.36	0.07	(0.34)	1.61	(2.15)	4.84	(3.49)	16.42
0HW4	1.57	0.30	0.04	(0.32)	1.72	(1.65)	3.72	(3.43)	16.45
0R6V	0.58	0.03	(0.11)	0.36	0.60	(0.77)	1.30	(1.20)	4.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ithaca Energy 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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Ithaca Energy Corporate Management

Elected by the shareholders, the Ithaca Energy's board of directors comprises two types of representatives: Ithaca Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ithaca. The board's role is to monitor Ithaca Energy's management team and ensure that shareholders' interests are well served. Ithaca Energy'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, Ithaca Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Janice Doyle	Executive Culture	Profile
Odin Estensen	Chief Officer	Profile
Alessandro Barberis	Executive Exploration	Profile
Rachel Stanley	Energy NOJV	Profile

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