Pacific Gas Correlations

PCG-PD Preferred Stock  USD 19.40  0.30  1.52%   
The current 90-days correlation between Pacific Gas and Pacific Gas and is -0.2 (i.e., Good diversification). The correlation of Pacific Gas 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.

Pacific Gas Correlation With Market

Good diversification

The correlation between Pacific Gas and and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacific Gas and and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Pacific Gas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pacific Gas 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 Pacific Gas - 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 Pacific Gas and to buy it.

Moving together with Pacific Preferred Stock

  0.69CMS-PB Consumers EnergyPairCorr

Moving against Pacific Preferred Stock

  0.56KEP Korea Electric PowerPairCorr
  0.55IDA IDACORPPairCorr
  0.54EDN Empresa DistribuidoraPairCorr
  0.46EVRG Evergy,PairCorr
  0.42ETR EntergyPairCorr
  0.39HE Hawaiian ElectricPairCorr
  0.54PNW Pinnacle West CapitalPairCorr
  0.53XEL Xcel Energy Fiscal Year End 23rd of January 2025 PairCorr
  0.5VSTEW Vast RenewablesPairCorr
  0.49PCG-PI Pacific GasPairCorr
  0.49PCG-PC Pacific GasPairCorr
  0.42PCG PGE CorpPairCorr
  0.41OGE OGE EnergyPairCorr
  0.41PPL PPL CorporationPairCorr
  0.36MGEE MGE EnergyPairCorr
  0.34WEC WEC Energy GroupPairCorr
  0.34SCE-PH SCE Trust IIIPairCorr
  0.31TLN Talen EnergyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
PCG-PHPCG-PB
PCG-PBPCG-PE
PCG-PHPCG-PE
PCG-PAPCG-PH
PCG-PAPCG-PB
PCG-PAPCG-PE
  
High negative correlations   
PCG-PAPCG-PG
PCG-PGPCG-PB
PCG-PHPCG-PG
PCG-PGPCG-PE

Risk-Adjusted Indicators

There is a big difference between Pacific Preferred Stock performing well and Pacific Gas 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 Pacific Gas' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Pacific Gas 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.

Did you try this?

Run Fundamental Analysis Now

   

Fundamental Analysis

View fundamental data based on most recent published financial statements
All  Next Launch Module

Pacific Gas Corporate Management