Peninsula Energy Correlations

P1M Stock

EUR 0.67 0.02 2.90%

The correlation of Peninsula 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.

Peninsula Energy Correlation With Market

Significant diversification

The correlation between Peninsula Energy Limited and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Peninsula Energy Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Peninsula 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 Peninsula 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 Peninsula 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 Peninsula Energy Limited to buy it.

Moving together with Peninsula Stock

0.68	CVLC	Vale SA	Pair Corr
0.66	CVLB	Vale SA	Pair Corr
0.64	8GC	Glencore PLC	Pair Corr

Moving against Peninsula Stock

0.65	A2R	Accent Resources	Pair Corr
0.59	BAC	Verizon Communications	Pair Corr
0.37	RU6	PT Solusi Bangun	Pair Corr
0.37	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	BHP1	CVLB	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA
BHP1		0.8	0.33	0.44	0.29	-0.35	0.47	0.47	-0.32	-0.34	BHP1
CVLB	0.8		0.41	0.64	0.03	-0.62	0.18	0.68	-0.56	-0.63	CVLB
8SP	0.33	0.41		0.7	-0.49	-0.73	-0.32	0.47	-0.18	-0.69	8SP
2DG	0.44	0.64	0.7		-0.53	-0.89	-0.23	0.78	-0.68	-0.93	2DG
NOH1	0.29	0.03	-0.49	-0.53		0.59	0.48	-0.32	0.26	0.57	NOH1
RS6	-0.35	-0.62	-0.73	-0.89	0.59		0.22	-0.76	0.62	0.94	RS6
XYTA	0.47	0.18	-0.32	-0.23	0.48	0.22		0.11	-0.18	0.28	XYTA
9K1	0.47	0.68	0.47	0.78	-0.32	-0.76	0.11		-0.85	-0.83	9K1
3RKU	-0.32	-0.56	-0.18	-0.68	0.26	0.62	-0.18	-0.85		0.69	3RKU
VUSA	-0.34	-0.63	-0.69	-0.93	0.57	0.94	0.28	-0.83	0.69		VUSA
	BHP1	CVLB	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA

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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

VUSA	+ 0.94	RS6
CVLB	+ 0.8	BHP1
9K1	+ 0.78	2DG
2DG	+ 0.7	8SP
VUSA	+ 0.69	3RKU
9K1	+ 0.68	CVLB

High negative correlations

VUSA	- 0.93	2DG
RS6	- 0.89	2DG
3RKU	- 0.85	9K1
VUSA	- 0.83	9K1
9K1	- 0.76	RS6
RS6	- 0.73	8SP

Risk-Adjusted Indicators

There is a big difference between Peninsula Stock performing well and Peninsula 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 Peninsula 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
BHP1	1.28	0.05	0.00	0.20	1.58	(1.34)	3.49	(2.14)	9.32
CVLB	1.71	(0.07)	0.00	(1.98)	0.00	0.00	3.77	(3.74)	14.91
8SP	2.04	0.00	0.00	0.00	0.00	0.00	3.36	(3.96)	20.22
2DG	5.01	(1.03)	0.00	(0.38)	0.00	0.00	9.09	(10.00)	52.42
NOH1	2.05	0.22	0.10	0.41	1.77	(2.88)	6.61	(3.25)	13.10
RS6	1.32	0.25	0.12	1.49	1.14	(1.53)	2.94	(2.03)	13.65
XYTA	11.55	4.06	0.13	(1.91)	8.11	(58.33)	33.33	(20.00)	233.33
9K1	1.72	(0.44)	0.00	3.59	0.00	0.00	2.94	(4.66)	14.80
3RKU	1.54	0.44	0.21	1.89	1.25	(2.12)	3.31	(2.40)	9.54
VUSA	0.55	0.12	0.13	0.24	0.48	(0.61)	1.19	(1.04)	6.02

Be your own money manager

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