Pyxis Tankers Correlations
| PXSAPDelisted Preferred Stock | USD 24.97 0.00 0.00% |
The current 90-days correlation between Pyxis Tankers and Medalist Diversified Reit is 0.06 (i.e., Significant diversification). The correlation of Pyxis Tankers 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Pyxis Tankers Correlation With Market
Good diversification
The correlation between Pyxis Tankers and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pyxis Tankers and DJI in the same portfolio, assuming nothing else is changed.
Pyxis |
The ability to find closely correlated positions to Pyxis Tankers could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pyxis Tankers 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 Pyxis Tankers - 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 Pyxis Tankers to buy it.
Moving together with Pyxis Preferred Stock
| 0.62 | AMKAF | AP Moeller | PairCorr |
| 0.75 | SSNLF | Samsung Electronics | PairCorr |
| 0.83 | PTAIF | PT Astra International | PairCorr |
| 0.83 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.83 | OZK | Bank Ozk Fiscal Year End 16th of January 2025 | PairCorr |
| 0.82 | KEY | KeyCorp Fiscal Year End 16th of January 2025 | PairCorr |
| 0.86 | MTLS | Materialise NV | PairCorr |
| 0.73 | TATT | Tat Techno | PairCorr |
| 0.89 | RMBS | Rambus Inc | PairCorr |
| 0.89 | CSCO | Cisco Systems | PairCorr |
| 0.84 | CRWD | Crowdstrike Holdings | PairCorr |
| 0.86 | WULF | Terawulf Buyout Trend | PairCorr |
| 0.8 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.89 | OXLC | Oxford Lane Capital | PairCorr |
| 0.8 | CLSK | CleanSpark | PairCorr |
Moving against Pyxis Preferred Stock
| 0.94 | BKRKY | Bank Rakyat | PairCorr |
| 0.92 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.91 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.8 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.74 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.71 | PBCRY | Bank Central Asia | PairCorr |
| 0.62 | NPNYY | Nippon Yusen Kabushiki | PairCorr |
| 0.56 | PBCRF | PT Bank Central | PairCorr |
| 0.5 | OROVF | Orient Overseas | PairCorr |
Related Correlations Analysis
| 0.53 | 0.19 | 0.09 | -0.23 | FATBP | ||
| 0.53 | 0.21 | 0.21 | 0.18 | FBIOP | ||
| 0.19 | 0.21 | 0.68 | 0.35 | MDRRP | ||
| 0.09 | 0.21 | 0.68 | 0.39 | AIRTP | ||
| -0.23 | 0.18 | 0.35 | 0.39 | FRGAP | ||
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Pyxis Preferred Stock performing well and Pyxis Tankers 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 Pyxis Tankers' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FATBP | 0.74 | (0.05) | 0.00 | (0.07) | 0.00 | 2.20 | 7.62 | |||
| FBIOP | 2.67 | 0.17 | 0.06 | 0.29 | 2.60 | 8.11 | 18.73 | |||
| MDRRP | 1.27 | 0.04 | (0.01) | 0.25 | 2.15 | 3.88 | 17.56 | |||
| AIRTP | 0.69 | (0.06) | 0.00 | (0.07) | 0.00 | 1.49 | 7.20 | |||
| FRGAP | 0.87 | 0.26 | 0.10 | (1.01) | 0.73 | 1.62 | 18.20 |
Pyxis Tankers Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pyxis Tankers preferred stock to make a market-neutral strategy. Peer analysis of Pyxis Tankers could also be used in its relative valuation, which is a method of valuing Pyxis Tankers by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Pyxis Tankers?
Investing in delisted delisted preferred stocks can be risky, as the preferred stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.