PetroChina Company Correlations

PC6 Stock

EUR 0.66 0.01 1.49%

The current 90-days correlation between PetroChina Limited and Benchmark Electronics is 0.07 (i.e., Significant diversification). The correlation of PetroChina Company 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.

PetroChina Company Correlation With Market

Significant diversification

The correlation between PetroChina Company Limited and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PetroChina Company Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against PetroChina Stock

0.69	DBPD	Xtrackers ShortDAX	Pair Corr
0.4	GSR	Gossan Resources	Pair Corr

Related Correlations Analysis

	BMU	PN1	LPK	GS2C	4BY	ERT	GIFN	PN1
BMU		0.85	0.09	0.75	0.48	0.84	0.92	0.83	BMU
PN1	0.85		-0.05	0.81	0.32	0.84	0.83	0.99	PN1
LPK	0.09	-0.05		-0.31	0.37	-0.24	-0.07	-0.06	LPK
GS2C	0.75	0.81	-0.31		0.31	0.92	0.82	0.81	GS2C
4BY	0.48	0.32	0.37	0.31		0.34	0.44	0.32	4BY
ERT	0.84	0.84	-0.24	0.92	0.34		0.92	0.83	ERT
GIFN	0.92	0.83	-0.07	0.82	0.44	0.92		0.81	GIFN
PN1	0.83	0.99	-0.06	0.81	0.32	0.83	0.81		PN1
	BMU	PN1	LPK	GS2C	4BY	ERT	GIFN	PN1

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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

PN1	+ 0.99	PN1
GIFN	+ 0.92	BMU
ERT	+ 0.92	GS2C
GIFN	+ 0.92	ERT
PN1	+ 0.85	BMU
ERT	+ 0.84	BMU

High negative correlations

GS2C	- 0.31	LPK
ERT	- 0.24	LPK
GIFN	- 0.07	LPK
PN1	- 0.06	LPK
LPK	- 0.05	PN1

Risk-Adjusted Indicators

There is a big difference between PetroChina Stock performing well and PetroChina Company 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 PetroChina Company'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
BMU	1.74	(0.01)	0.08	0.13	1.52	(2.40)	3.57	(3.31)	13.06
PN1	1.95	0.10	0.08	0.19	2.00	(2.13)	4.62	(3.71)	13.23
LPK	1.19	0.02	(0.04)	0.18	1.18	(1.87)	2.63	(1.72)	11.92
GS2C	2.62	0.40	0.09	2.14	3.06	(2.88)	8.21	(4.29)	20.04
4BY	3.37	0.50	0.09	3.60	3.76	(4.36)	8.93	(4.83)	27.75
ERT	0.95	0.17	0.05	1.48	1.01	(1.10)	1.74	(1.56)	6.85
GIFN	1.22	0.25	0.07	(2.72)	1.07	(1.93)	3.57	(1.74)	10.24
PN1	1.76	0.17	0.07	0.33	1.80	(1.94)	4.09	(3.51)	11.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in PetroChina Company 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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PetroChina Company Corporate Management

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

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Lixin Ren	Sr Director	Profile
Jigang Yang	VP Engineer	Profile

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