Emperor Energy Correlations

EMP Stock

0.03 0 3.85%

The current 90-days correlation between Emperor Energy and Northern Star Resources is 0.11 (i.e., Average diversification). The correlation of Emperor 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.

The ability to find closely correlated positions to Emperor 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 Emperor 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 Emperor 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 Emperor Energy to buy it.

Moving together with Emperor Stock

0.68	DEG	De Grey Mining	Pair Corr
0.74	AHF	Australian Dairy Farms	Pair Corr
0.79	FSI	Flagship Investments	Pair Corr
0.8	AME	Alto Metals	Pair Corr
0.79	HSN	Hansen Technologies	Pair Corr
0.87	CBA	Commonwealth Bank	Pair Corr
0.82	BEN	Bendigo And Adelaide	Pair Corr
0.82	JBH	JB Hi Fi	Pair Corr
0.79	IDA	Indiana Resources	Pair Corr
0.79	SHO	SportsHero	Pair Corr
0.84	TLX	Telix Pharmaceuticals	Pair Corr
0.81	HUB	Hub24	Pair Corr
0.72	BIS	Bisalloy Steel Group	Pair Corr
0.84	PBH	Pointsbet Holdings	Pair Corr

Moving against Emperor Stock

0.55	ERA	Energy Resources	Pair Corr
0.53	ATM	Aneka Tambang Tbk	Pair Corr
0.53	SFR	Sandfire Resources	Pair Corr
0.5	PGH	Pact Group Holdings	Pair Corr
0.76	BKW	Brickworks	Pair Corr
0.53	A1M	AIC Mines Limited	Pair Corr

Related Correlations Analysis

	NST	EVN	BSL	ATM	SFR	DEG	PRU
NST		0.74	0.14	-0.4	0.32	-0.19	0.65	NST
EVN	0.74		-0.18	-0.35	-0.01	0.39	0.79	EVN
BSL	0.14	-0.18		0.04	0.77	-0.33	-0.08	BSL
ATM	-0.4	-0.35	0.04		0.22	-0.06	0.01	ATM
SFR	0.32	-0.01	0.77	0.22		-0.49	0.31	SFR
DEG	-0.19	0.39	-0.33	-0.06	-0.49		0.07	DEG
PRU	0.65	0.79	-0.08	0.01	0.31	0.07		PRU
	NST	EVN	BSL	ATM	SFR	DEG	PRU

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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

PRU	+ 0.79	EVN
SFR	+ 0.77	BSL
EVN	+ 0.74	NST
PRU	+ 0.65	NST
DEG	+ 0.39	EVN
SFR	+ 0.32	NST

High negative correlations

DEG	- 0.49	SFR
ATM	- 0.4	NST
ATM	- 0.35	EVN
DEG	- 0.33	BSL
DEG	- 0.19	NST
BSL	- 0.18	EVN

Risk-Adjusted Indicators

There is a big difference between Emperor Stock performing well and Emperor 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 Emperor 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NST	1.60	(0.04)	0.00	(0.14)	0.00	0.00	2.87	(5.08)	11.36
EVN	1.67	0.12	0.05	0.80	2.11	(1.81)	3.38	(3.49)	13.28
BSL	1.55	(0.14)	0.00	(0.28)	0.00	0.00	2.93	(3.05)	8.93
ATM	0.96	(0.19)	0.00	(1.02)	0.00	0.00	4.40	(4.26)	16.07
SFR	1.33	(0.09)	0.00	(0.15)	0.00	0.00	2.86	(2.83)	9.67
DEG	2.11	0.52	0.25	1.05	1.62	(3.03)	4.32	(2.79)	32.40
PRU	1.55	(0.03)	0.00	(0.35)	0.00	0.00	2.71	(2.55)	11.16

Be your own money manager

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