Beyond Oil Correlations
| BEOLF Stock | 1.03 0.02 1.98% |
The current 90-days correlation between Beyond Oil and Legacy Education is 0.29 (i.e., Modest diversification). The correlation of Beyond Oil 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.
Beyond Oil Correlation With Market
Modest diversification
The correlation between Beyond Oil and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Oil and DJI in the same portfolio, assuming nothing else is changed.
Beyond |
The ability to find closely correlated positions to Beyond Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Beyond Oil 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 Beyond Oil - 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 Beyond Oil to buy it.
Moving against Beyond Pink Sheet
| 0.85 | CSSV | Caspian Services | PairCorr |
| 0.75 | SUM | Summit Materials | PairCorr |
| 0.65 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.65 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.63 | NBIX | Neurocrine Biosciences | PairCorr |
| 0.6 | FBMS | First Bancshares, Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.59 | NVDA | NVIDIA Aggressive Push | PairCorr |
| 0.58 | BMY | Bristol Myers Squibb Aggressive Push | PairCorr |
| 0.57 | CBSH | Commerce Bancshares Fiscal Year End 16th of January 2025 | PairCorr |
| 0.56 | C | Citigroup Aggressive Push | PairCorr |
| 0.55 | AMZN | Amazon Inc | PairCorr |
| 0.44 | CISO | Cerberus Cyber Sentinel Tech Boost | PairCorr |
| 0.44 | BKV | BKV Corporation | PairCorr |
| 0.44 | GBXI | GBX International | PairCorr |
| 0.41 | YLWDF | Yellow Pages Limited | PairCorr |
| 0.4 | THCP | Thunder Bridge Capital | PairCorr |
| 0.39 | TRDA | Entrada Therapeutics | PairCorr |
| 0.38 | VULNF | Vulcan Energy Resources | PairCorr |
| 0.34 | LGCY | Legacy Education | PairCorr |
| 0.34 | DYAI | Dyadic International | PairCorr |
| 0.33 | AAPL | Apple Inc Aggressive Push | PairCorr |
| 0.65 | BLK | BlackRock Fiscal Year End 10th of January 2025 | PairCorr |
| 0.65 | DASH | DoorDash, Class A | PairCorr |
| 0.64 | GOOGL | Alphabet Class A Aggressive Push | PairCorr |
| 0.62 | RBCAA | Republic Bancorp | PairCorr |
| 0.6 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.58 | KKR | KKR Co LP Normal Trading | PairCorr |
| 0.57 | SAPMF | Saipem SpA | PairCorr |
| 0.57 | LIEN | Chicago Atlantic BDC, Symbol Change | PairCorr |
| 0.56 | TSLA | Tesla Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.55 | GIFI | Gulf Island Fabrication | PairCorr |
| 0.55 | SMLR | Semler Scientific | PairCorr |
| 0.53 | RCMT | RCM Technologies | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Beyond Pink Sheet performing well and Beyond Oil 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 Beyond Oil'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LGCY | 3.53 | 1.19 | 0.28 | 0.70 | 3.19 | 10.85 | 23.25 | |||
| AAPL | 0.84 | 0.18 | 0.12 | 9.78 | 1.01 | 1.84 | 5.20 | |||
| NVDA | 1.85 | 0.16 | 0.07 | 0.35 | 2.18 | 4.05 | 9.07 | |||
| MSFT | 0.87 | 0.00 | (0.02) | 0.02 | 1.65 | 1.78 | 8.14 | |||
| AMZN | 1.41 | 0.24 | 0.12 | (1.34) | 1.59 | 2.94 | 10.78 | |||
| GOOG | 1.31 | 0.28 | 0.15 | (0.81) | 1.48 | 3.54 | 8.99 | |||
| BMYMP | 1.61 | 0.51 | 0.09 | 4.18 | 1.57 | 7.23 | 22.13 | |||
| META | 1.21 | 0.08 | 0.04 | 0.42 | 1.41 | 2.62 | 7.43 |
Beyond Oil 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 Beyond Oil pink sheet to make a market-neutral strategy. Peer analysis of Beyond Oil could also be used in its relative valuation, which is a method of valuing Beyond Oil by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |