Crown LNG Correlations

CGBSW Stock

0.02 0.01 33.52%

The current 90-days correlation between Crown LNG Holdings and Eni SpA ADR is 0.02 (i.e., Significant diversification). The correlation of Crown LNG 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.

Crown LNG Correlation With Market

Good diversification

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

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Crown LNG Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Crown Stock

0.7	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.61	TGS	Transportadora de Gas	Pair Corr
0.62	YPF	YPF Sociedad Anonima	Pair Corr
0.62	CGBS	Crown LNG Holdings	Pair Corr
0.67	CRGY	Crescent Energy Potential Growth	Pair Corr
0.69	AE	Adams Resources Energy	Pair Corr
0.67	EE	Excelerate Energy	Pair Corr
0.69	EP	Empire Petroleum Corp	Pair Corr
0.71	NC	NACCO Industries	Pair Corr
0.62	PR	Permian Resources	Pair Corr
0.73	TS	Tenaris SA ADR	Pair Corr
0.67	DMLP	Dorchester Minerals	Pair Corr

Moving against Crown Stock

0.69	TTE	TotalEnergies SE ADR	Pair Corr
0.59	BP	BP PLC ADR	Pair Corr
0.57	EC	Ecopetrol SA ADR Sell-off Trend	Pair Corr
0.51	E	Eni SpA ADR	Pair Corr
0.36	CVE	Cenovus Energy	Pair Corr
0.34	PBR	Petroleo Brasileiro	Pair Corr
0.33	EQNR	Equinor ASA ADR	Pair Corr
0.56	TK	Teekay	Pair Corr
0.48	DINO	HF Sinclair Corp	Pair Corr
0.46	BROGW	Brooge Energy Limited	Pair Corr
0.44	APA	APA Corporation	Pair Corr

Related Correlations Analysis

	E	BP	EC	SU	VIVK	EQNR	CVE	CVX	IMO	NFG
E		0.86	0.66	-0.07	0.15	0.59	0.88	-0.55	0.09	-0.52	E
BP	0.86		0.9	-0.1	0.27	0.77	0.86	-0.61	-0.07	-0.46	BP
EC	0.66	0.9		-0.21	0.38	0.8	0.7	-0.65	-0.28	-0.52	EC
SU	-0.07	-0.1	-0.21		-0.01	0.18	0.19	0.76	0.83	0.42	SU
VIVK	0.15	0.27	0.38	-0.01		0.12	0.22	-0.25	-0.24	-0.46	VIVK
EQNR	0.59	0.77	0.8	0.18	0.12		0.75	-0.28	0.18	-0.17	EQNR
CVE	0.88	0.86	0.7	0.19	0.22	0.75		-0.4	0.33	-0.38	CVE
CVX	-0.55	-0.61	-0.65	0.76	-0.25	-0.28	-0.4		0.58	0.68	CVX
IMO	0.09	-0.07	-0.28	0.83	-0.24	0.18	0.33	0.58		0.46	IMO
NFG	-0.52	-0.46	-0.52	0.42	-0.46	-0.17	-0.38	0.68	0.46		NFG
	E	BP	EC	SU	VIVK	EQNR	CVE	CVX	IMO	NFG

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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

EC	+ 0.9	BP
CVE	+ 0.88	E
BP	+ 0.86	E
CVE	+ 0.86	BP
IMO	+ 0.83	SU
EQNR	+ 0.8	EC

High negative correlations

CVX	- 0.65	EC
CVX	- 0.61	BP
CVX	- 0.55	E
NFG	- 0.52	EC
NFG	- 0.52	E
NFG	- 0.46	VIVK

Risk-Adjusted Indicators

There is a big difference between Crown Stock performing well and Crown LNG 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 Crown LNG'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
E	0.97	(0.18)	0.00	(2.95)	0.00	0.00	1.51	(2.34)	4.90
BP	1.19	(0.26)	0.00	(0.48)	0.00	0.00	1.68	(3.34)	7.70
EC	1.37	(0.37)	0.00	(1.21)	0.00	0.00	2.46	(3.86)	8.46
SU	1.25	(0.08)	0.00	(0.05)	0.00	0.00	2.17	(2.75)	8.68
VIVK	3.44	(0.33)	0.00	(0.46)	0.00	0.00	6.33	(7.25)	23.87
EQNR	1.54	(0.11)	0.00	0.89	0.00	0.00	3.30	(4.50)	8.46
CVE	1.44	(0.28)	0.00	(0.77)	0.00	0.00	2.57	(3.60)	7.99
CVX	0.88	0.09	0.03	0.26	1.02	(0.93)	2.21	(1.79)	5.13
IMO	1.38	(0.08)	0.00	(0.04)	0.00	0.00	2.68	(2.70)	9.51
NFG	1.02	0.06	0.01	0.23	1.22	(1.13)	2.82	(1.75)	8.65

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