88 Energy Correlations

EEENF Stock  USD 0  0.0001  9.09%   
The current 90-days correlation between 88 Energy Limited and Invictus Energy Limited is -0.02 (i.e., Good diversification). The correlation of 88 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.

88 Energy Correlation With Market

Average diversification

The correlation between 88 Energy Limited 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 88 Energy Limited and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to 88 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 88 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 88 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 88 Energy Limited to buy it.

Moving together with EEENF Pink Sheet

  0.61SWZNF Schweizerische NationalbankPairCorr

Moving against EEENF Pink Sheet

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  0.5AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.45JPM JPMorgan Chase Sell-off TrendPairCorr
  0.35CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr

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   
OILSFJRNGF
OILSFTRLEF
TRLEFJRNGF
JRNGFIVCTF
OILSFIVCTF
OILSFSEUSF
  
High negative correlations   
MDMPIVCTF
MDMPSEUSF
MMEXMDMP
VBHIMMEX
MDMPJRNGF
OILSFMDMP

Risk-Adjusted Indicators

There is a big difference between EEENF Pink Sheet performing well and 88 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 88 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
IVCTF  4.36  0.30  0.01 (0.09) 4.98 
 14.29 
 36.85 
SEUSF  2.97  0.27  0.05 (0.86) 2.65 
 10.45 
 19.41 
JRNGF  2.14 (0.42) 0.00 (1.21) 0.00 
 3.31 
 14.18 
TRLEF  4.13 (0.87) 0.00  4.17  0.00 
 9.80 
 30.97 
MDMP  8.64  0.28  0.03  0.16  9.62 
 22.22 
 64.77 
OILSF  1.55 (0.26) 0.00 (5.97) 0.00 
 2.72 
 7.27 
MMEX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
RZREF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
VBHI  11.55  0.74  0.02 (0.28) 12.53 
 25.00 
 83.33 

Be your own money manager

Our tools can tell you how much better you can do entering a position in 88 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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