Avance Gas Correlations

AVACF Stock

USD 6.75 0.08 1.17%

The current 90-days correlation between Avance Gas Holding and GasLog Partners LP is -0.12 (i.e., Good diversification). The correlation of Avance 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.

Avance Gas Correlation With Market

Average diversification

The correlation between Avance Gas Holding and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avance Gas Holding and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Avance 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 Avance 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 Avance 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 Avance Gas Holding to buy it.

Moving together with Avance Pink Sheet

0.71

ARDDF

Ardiden Limited

Pair Corr

Moving against Avance Pink Sheet

0.67	TRP-PC	TC Energy Corp	Pair Corr
0.4	VBFC	Village Bank	Pair Corr
0.84	RGTI	Rigetti Computing Trending	Pair Corr
0.8	QBTS	D Wave Quantum Upward Rally	Pair Corr
0.7	LULU	Lululemon Athletica	Pair Corr
0.7	TATT	Tat Techno	Pair Corr
0.67	YLWDF	Yellow Pages Limited	Pair Corr
0.65	RR	Richtech Robotics Class Buyout Trend	Pair Corr
0.64	CISO	Cerberus Cyber Sentinel Tech Boost	Pair Corr
0.59	UNCY	Unicycive Therapeutics	Pair Corr
0.49	VCEL	Vericel Corp Ord	Pair Corr
0.49	GBXI	GBX International	Pair Corr
0.46	70082LAB3	US70082LAB36	Pair Corr
0.43	BMYMP	Bristol Myers Squibb	Pair Corr
0.43	MSTR	MicroStrategy Incorporated	Pair Corr
0.36	DTSTW	Data Storage	Pair Corr
0.31	PANW	Palo Alto Networks	Pair Corr
0.92	ODC	Oil Dri	Pair Corr
0.85	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.69	CBOBA	Community Bank	Pair Corr
0.67	INVZ	Innoviz Technologies	Pair Corr
0.58	KODK	Eastman Kodak	Pair Corr
0.56	SIDU	Sidus Space	Pair Corr

Related Correlations Analysis

	GLOP-PC	GLOP-PB	NGL-PC	SEAL-PA	KMI	OKE	MPLX	EPD
GLOP-PC		0.71	0.79	0.49	0.56	0.44	0.69	0.67	GLOP-PC
GLOP-PB	0.71		0.8	0.56	0.56	0.38	0.61	0.6	GLOP-PB
NGL-PC	0.79	0.8		0.43	0.57	0.47	0.76	0.75	NGL-PC
SEAL-PA	0.49	0.56	0.43		0.62	0.41	0.48	0.49	SEAL-PA
KMI	0.56	0.56	0.57	0.62		0.93	0.85	0.86	KMI
OKE	0.44	0.38	0.47	0.41	0.93		0.86	0.88	OKE
MPLX	0.69	0.61	0.76	0.48	0.85	0.86		0.99	MPLX
EPD	0.67	0.6	0.75	0.49	0.86	0.88	0.99		EPD
	GLOP-PC	GLOP-PB	NGL-PC	SEAL-PA	KMI	OKE	MPLX	EPD

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Risk-Adjusted Indicators

There is a big difference between Avance Pink Sheet performing well and Avance 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 Avance 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GLOP-PC	0.37	0.01	(0.03)	(0.54)	0.77	(0.39)	0.72	(0.81)	8.40
GLOP-PB	0.30	0.02	(0.05)	1.06	0.31	(0.34)	0.76	(0.52)	2.32
NGL-PC	0.45	0.04	(0.01)	(0.30)	0.50	(0.54)	1.04	(0.86)	3.93
SEAL-PA	0.32	0.04	(0.02)	(0.42)	0.40	(0.36)	0.82	(0.66)	3.97
KMI	1.10	0.32	0.24	2.02	0.92	(1.39)	2.29	(2.25)	9.57
OKE	1.34	0.10	0.03	0.28	1.97	(1.28)	2.90	(3.56)	8.37
MPLX	0.93	0.10	0.06	0.33	0.94	(1.04)	2.34	(1.69)	5.25
EPD	0.79	0.10	0.06	0.74	0.92	(0.79)	1.76	(1.51)	5.09

Be your own money manager

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

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Avance Gas Corporate Management

Jannicke Eilertsen	Legal Officer	Profile
Randi Bekkelund	Chief Officer	Profile
Captain Aasvang	Head Operations	Profile
Oystein Kalleklev	Ex Chairman	Profile
Hanne Isaksen	Financial Controller	Profile
James Ayers	Sec	Profile

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