3R Petroleum Correlations
| RRRP3 Stock | BRL 16.26 0.59 3.50% |
The current 90-days correlation between 3R Petroleum leo and Petro Rio SA is -0.1 (i.e., Good diversification). The correlation of 3R Petroleum 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.
RRRP3 |
The ability to find closely correlated positions to 3R Petroleum could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 3R Petroleum 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 3R Petroleum - 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 3R Petroleum leo to buy it.
Moving together with RRRP3 Stock
| 0.68 | PRIO3 | Petro Rio SA | PairCorr |
| 0.78 | RECV3 | Petroreconcavo SA | PairCorr |
| 0.96 | PDGR3 | PDG Realty SA Split | PairCorr |
| 0.66 | TEKA4 | Teka Tecelagem Kuehnrich | PairCorr |
Moving against RRRP3 Stock
| 0.76 | P2LT34 | Palantir Technologies | PairCorr |
| 0.73 | OSXB3 | OSX Brasil SA | PairCorr |
| 0.67 | E1OG34 | EOG Resources | PairCorr |
| 0.39 | COPH34 | ConocoPhillips | PairCorr |
| 0.39 | ESTR4 | Manufatura de Brinquedos | PairCorr |
Related Correlations Analysis
| 0.32 | -0.65 | 0.66 | 0.09 | PRIO3 | ||
| 0.32 | -0.66 | 0.61 | 0.12 | BPAC11 | ||
| -0.65 | -0.66 | -0.79 | -0.05 | AMBP3 | ||
| 0.66 | 0.61 | -0.79 | 0.03 | CASH3 | ||
| 0.09 | 0.12 | -0.05 | 0.03 | PETZ3 | ||
| 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 RRRP3 Stock performing well and 3R Petroleum 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 3R Petroleum'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PRIO3 | 1.38 | (0.22) | 0.00 | 1.14 | 0.00 | 2.58 | 9.24 | |||
| BPAC11 | 1.21 | (0.28) | 0.00 | (12.09) | 0.00 | 2.47 | 9.68 | |||
| AMBP3 | 4.17 | 1.40 | 0.32 | 3.12 | 3.37 | 10.99 | 33.93 | |||
| CASH3 | 3.22 | 0.11 | 0.00 | 0.07 | 0.00 | 4.86 | 85.83 | |||
| PETZ3 | 2.43 | (0.21) | 0.00 | (0.61) | 0.00 | 4.29 | 22.35 |
3R Petroleum 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 3R Petroleum stock to make a market-neutral strategy. Peer analysis of 3R Petroleum could also be used in its relative valuation, which is a method of valuing 3R Petroleum by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
3R Petroleum Corporate Management
Elected by the shareholders, the 3R Petroleum's board of directors comprises two types of representatives: 3R Petroleum inside directors who are chosen from within the company, and outside directors, selected externally and held independent of RRRP3. The board's role is to monitor 3R Petroleum's management team and ensure that shareholders' interests are well served. 3R Petroleum'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, 3R Petroleum's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Wagner Medeiros | Accounting Mang | Profile | |
| Rodrigo Silva | Investor CFO | Profile | |
| Pedro Vasquez | Member Board | Profile | |
| Ricardo Savini | Pres Board | Profile | |
| Jorge Lorenzon | Member Board | Profile | |
| Mauro Rocha | Controller | Profile |