Barrister Energy Correlations

CJAX Stock  USD 2.40  0.00  0.00%   
The current 90-days correlation between Barrister Energy LLC and Daybreak Oil and is -0.03 (i.e., Good diversification). The correlation of Barrister Energy 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.

Barrister Energy Correlation With Market

Good diversification

The correlation between Barrister Energy LLC and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barrister Energy LLC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Barrister Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Barrister Energy 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 Barrister Energy - 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 Barrister Energy LLC to buy it.

Moving together with Barrister Pink Sheet

  0.93SIGL Signal AdvancePairCorr
  0.62HROWM Harrow Health, 11875PairCorr
  0.94WM Waste ManagementPairCorr
  0.74MMM 3M CompanyPairCorr
  0.94IBM International BusinessPairCorr
  0.88JNJ Johnson JohnsonPairCorr
  0.78MCD McDonaldsPairCorr
  0.85KO Coca ColaPairCorr
  0.82GE GE AerospacePairCorr

Moving against Barrister Pink Sheet

  0.83GLUC Glucose HealthPairCorr
  0.75SLF Sun Life FinancialPairCorr
  0.67AA Alcoa CorpPairCorr
  0.58CNQ Canadian Natural ResPairCorr
  0.42OXY Occidental PetroleumPairCorr
  0.36COP ConocoPhillipsPairCorr
  0.35HNRC Houston Natural ResourcesPairCorr
  0.83MSFT MicrosoftPairCorr
  0.77MRK Merck CompanyPairCorr
  0.72CAT CaterpillarPairCorr
  0.4DIS Walt DisneyPairCorr
  0.39AXP American ExpressPairCorr
  0.31BAC Bank of AmericaPairCorr

Related Correlations Analysis

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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   
ATUUFBRNGF
ADXRFCSTPF
CSTPFBRNGF
AERNATUUF
AERNCSTPF
CLMEFBRNGF
  
High negative correlations   
CSTPFDBRM
DBRMATUUF
DBRMBRNGF
ADXRFBRNGF
AERNADXRF
ADXRFDBRM

Risk-Adjusted Indicators

There is a big difference between Barrister Pink Sheet performing well and Barrister Energy 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 Barrister Energy'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Barrister Energy 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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Fundamental Analysis

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