| IPO Stock | | | CAD 1.58 0.03 1.86% |
The current 90-days correlation between InPlay Oil Corp and Journey Energy is 0.5 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as InPlay Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if InPlay Oil Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
InPlay Oil Correlation With Market
Average diversification
The correlation between InPlay Oil Corp and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding InPlay Oil Corp and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to InPlay Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace InPlay Oil 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 InPlay Oil - 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 InPlay Oil Corp to buy it.
Moving together with InPlay Stock
Moving against InPlay Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between InPlay Stock performing well and InPlay 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 InPlay 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.
Be your own money manager
Our tools can tell you how much better you can do entering a position in InPlay Oil 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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InPlay Oil Corporate Management
Elected by the shareholders, the InPlay Oil's board of directors comprises two types of representatives: InPlay Oil inside directors who are chosen from within the company, and outside directors, selected externally and held independent of InPlay. The board's role is to monitor InPlay Oil's management team and ensure that shareholders' interests are well served. InPlay Oil's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, InPlay Oil's outside directors are responsible for providing unbiased perspectives on the board's policies.