Imperial Oil Correlations

IMO Stock

USD 71.37 1.05 1.49%

The current 90-days correlation between Imperial Oil and Suncor Energy is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Imperial Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Imperial Oil moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Imperial Oil Correlation With Market

Weak diversification

The correlation between Imperial Oil and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imperial Oil and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Imperial Oil. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in Imperial Stock, please use our How to Invest in Imperial Oil guide.

Moving together with Imperial Stock

0.61	EC	Ecopetrol SA ADR	Pair Corr
0.64	SU	Suncor Energy Sell-off Trend	Pair Corr
0.85	CVX	Chevron Corp	Pair Corr
0.67	PBR	Petroleo Brasileiro Aggressive Push	Pair Corr
0.65	TTE	TotalEnergies SE ADR	Pair Corr
0.71	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	AR	Antero Resources Corp	Pair Corr
0.64	DNOW	Now Inc	Pair Corr

Moving against Imperial Stock

0.65	EP	Empire Petroleum Corp Earnings Call This Week	Pair Corr
0.52	VIVK	Vivakor	Pair Corr
0.39	YPF	YPF Sociedad Anonima	Pair Corr
0.4	DLNG	Dynagas LNG Partners	Pair Corr

Related Correlations Analysis

	SU	EC	PBR	EQNR	CVE	XOM	CVX	BP	TTE	NFG
SU		0.37	0.82	0.44	0.57	0.4	0.53	0.55	0.35	0.2	SU
EC	0.37		0.49	0.17	-0.22	0.63	0.73	0.61	0.9	0.89	EC
PBR	0.82	0.49		0.15	0.4	0.45	0.51	0.61	0.35	0.28	PBR
EQNR	0.44	0.17	0.15		0.3	0.44	0.43	0.01	0.31	0.16	EQNR
CVE	0.57	-0.22	0.4	0.3		-0.21	-0.22	-0.13	-0.27	-0.41	CVE
XOM	0.4	0.63	0.45	0.44	-0.21		0.88	0.61	0.69	0.62	XOM
CVX	0.53	0.73	0.51	0.43	-0.22	0.88		0.59	0.83	0.76	CVX
BP	0.55	0.61	0.61	0.01	-0.13	0.61	0.59		0.53	0.46	BP
TTE	0.35	0.9	0.35	0.31	-0.27	0.69	0.83	0.53		0.96	TTE
NFG	0.2	0.89	0.28	0.16	-0.41	0.62	0.76	0.46	0.96		NFG
	SU	EC	PBR	EQNR	CVE	XOM	CVX	BP	TTE	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

NFG	+ 0.96	TTE
TTE	+ 0.9	EC
NFG	+ 0.89	EC
CVX	+ 0.88	XOM
TTE	+ 0.83	CVX
PBR	+ 0.82	SU

High negative correlations

NFG	- 0.41	CVE
TTE	- 0.27	CVE
CVX	- 0.22	CVE
CVE	- 0.22	EC
XOM	- 0.21	CVE
BP	- 0.13	CVE

Risk-Adjusted Indicators

There is a big difference between Imperial Stock performing well and Imperial 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 Imperial 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
SU	1.17	0.15	0.13	(1.58)	1.51	(1.22)	2.74	(2.44)	9.19
EC	1.79	0.38	0.17	0.38	1.81	(2.04)	4.99	(3.80)	11.63
PBR	1.16	0.19	0.17	6.17	1.35	(1.27)	3.07	(1.57)	10.11
EQNR	1.60	0.13	0.09	0.57	2.09	(1.63)	3.68	(3.54)	9.90
CVE	1.60	(0.08)	0.00	0.05	0.00	0.00	2.66	(2.91)	14.33
XOM	1.06	0.09	0.09	0.13	1.38	(1.10)	2.55	(2.36)	5.89
CVX	1.11	0.12	0.10	0.22	1.57	(1.04)	2.06	(2.72)	6.46
BP	1.05	0.32	0.30	(1.08)	1.04	(1.23)	2.50	(1.73)	10.62
TTE	0.77	0.23	0.28	0.71	0.73	(0.85)	1.87	(1.44)	4.36
NFG	0.91	0.42	0.43	0.78	0.66	(1.08)	2.32	(1.57)	4.36

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