Parkland Correlations

PKIUF Stock

USD 22.73 0.24 1.04%

The current 90-days correlation between Parkland and BlackRock is 0.24 (i.e., Modest diversification). The correlation of Parkland 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.

Parkland Correlation With Market

Modest diversification

The correlation between Parkland and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parkland and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Parkland Pink Sheet

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0.56	RELY	Remitly Global Tech Boost	Pair Corr
0.51	NBIX	Neurocrine Biosciences	Pair Corr
0.43	MSB	Mesabi Trust Downward Rally	Pair Corr
0.4	NTNX	Nutanix	Pair Corr
0.4	OPTX	Syntec Optics Holdings Trending	Pair Corr
0.4	EVGR	Evergreen Corp	Pair Corr
0.38	NETDU	Nabors Energy Transition	Pair Corr
0.38	ZION	Zions Bancorporation Fiscal Year End 27th of January 2025	Pair Corr
0.38	PETS	PetMed Express	Pair Corr
0.36	FBMS	First Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.34	TGTX	TG Therapeutics	Pair Corr
0.33	SAPMF	Saipem SpA	Pair Corr
0.33	MAR	Marriott International	Pair Corr
0.33	BSIG	Brightsphere Investment	Pair Corr
0.32	FNMFO	Federal National Mortgage	Pair Corr
0.31	HWC	Hancock Whitney Corp Fiscal Year End 21st of January 2025	Pair Corr
0.62	BSGM	BioSig Technologies,	Pair Corr
0.53	GM	General Motors	Pair Corr
0.51	XMTR	Xometry Upward Rally	Pair Corr
0.48	HAFC	Hanmi Financial Fiscal Year End 28th of January 2025	Pair Corr
0.46	DMRC	Digimarc	Pair Corr
0.44	GLPPRB	Global Partners LP	Pair Corr
0.42	SAIA	Saia Inc	Pair Corr
0.4	CRAI	CRA International	Pair Corr
0.38	HUT	Hut 8 Corp	Pair Corr
0.33	GIFI	Gulf Island Fabrication	Pair Corr
0.32	PWOD	Penns Woods Bancorp	Pair Corr

Related Correlations Analysis

	STMGF	VLERF	IVCTF	AOIFF	CNOBP	RCMT	BLK	FRCOF	AGLDF	OBYCF
STMGF		-0.34	0.44	-0.01	-0.36	-0.5	-0.54	-0.61	0.41	-0.31	STMGF
VLERF	-0.34		-0.68	0.25	0.86	0.65	0.78	-0.04	-0.35	0.83	VLERF
IVCTF	0.44	-0.68		-0.2	-0.65	-0.6	-0.71	0.13	0.28	-0.61	IVCTF
AOIFF	-0.01	0.25	-0.2		0.36	0.06	0.26	-0.07	-0.18	0.41	AOIFF
CNOBP	-0.36	0.86	-0.65	0.36		0.65	0.81	0.03	-0.29	0.87	CNOBP
RCMT	-0.5	0.65	-0.6	0.06	0.65		0.8	0.04	-0.41	0.53	RCMT
BLK	-0.54	0.78	-0.71	0.26	0.81	0.8		0.12	-0.52	0.65	BLK
FRCOF	-0.61	-0.04	0.13	-0.07	0.03	0.04	0.12		-0.26	-0.06	FRCOF
AGLDF	0.41	-0.35	0.28	-0.18	-0.29	-0.41	-0.52	-0.26		-0.21	AGLDF
OBYCF	-0.31	0.83	-0.61	0.41	0.87	0.53	0.65	-0.06	-0.21		OBYCF
	STMGF	VLERF	IVCTF	AOIFF	CNOBP	RCMT	BLK	FRCOF	AGLDF	OBYCF

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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

OBYCF	+ 0.87	CNOBP
CNOBP	+ 0.86	VLERF
OBYCF	+ 0.83	VLERF
BLK	+ 0.81	CNOBP
BLK	+ 0.8	RCMT
BLK	+ 0.78	VLERF

High negative correlations

BLK	- 0.71	IVCTF
IVCTF	- 0.68	VLERF
CNOBP	- 0.65	IVCTF
OBYCF	- 0.61	IVCTF
FRCOF	- 0.61	STMGF
RCMT	- 0.6	IVCTF

Risk-Adjusted Indicators

There is a big difference between Parkland Pink Sheet performing well and Parkland 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 Parkland'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
STMGF	5.90	0.05	0.00	0.00	0.00	0.00	2.46	(19.20)	139.28
VLERF	2.95	0.44	0.13	1.88	2.94	(3.69)	6.33	(5.36)	21.15
IVCTF	4.21	(0.28)	0.00	(0.32)	0.00	0.00	10.68	(9.86)	36.90
AOIFF	2.13	(0.05)	0.00	(0.17)	0.00	0.00	4.65	(4.08)	10.01
CNOBP	0.69	0.10	0.08	0.25	0.81	(0.82)	1.75	(1.61)	5.84
RCMT	1.59	0.12	0.05	0.14	2.18	(1.80)	3.43	(3.34)	12.78
BLK	0.83	0.13	0.12	0.22	0.82	(0.91)	1.85	(1.63)	6.38
FRCOF	0.93	0.18	0.00	(0.96)	0.00	0.00	2.65	(0.98)	23.45
AGLDF	19.09	5.25	0.14	0.82	16.03	(53.25)	93.07	(41.86)	239.23
OBYCF	0.79	0.28	0.00	0.82	0.00	0.00	0.00	0.00	23.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in Parkland 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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