Petrleo Brasileiro Correlations

PBR-A Stock

USD 12.78 0.17 1.31%

The current 90-days correlation between Petrleo Brasileiro and Petroleo Brasileiro Petrobras is 0.93 (i.e., Almost no diversification). The correlation of Petrleo Brasileiro 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.

Petrleo Brasileiro Correlation With Market

Modest diversification

The correlation between Petrleo Brasileiro SA and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Petrleo Brasileiro SA and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Petrleo Brasileiro SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Petrleo Stock

0.63	BP	BP PLC ADR	Pair Corr
0.68	EC	Ecopetrol SA ADR	Pair Corr
0.68	SU	Suncor Energy	Pair Corr
0.67	IMO	Imperial Oil	Pair Corr
0.92	PBR	Petroleo Brasileiro	Pair Corr
0.63	DINO	HF Sinclair Corp	Pair Corr

Moving against Petrleo Stock

0.51	EP	Empire Petroleum Corp Earnings Call Tomorrow	Pair Corr
0.31	DLNG	Dynagas LNG Partners	Pair Corr

Related Correlations Analysis

	PBR	EQNR	E	YPF	EC	BP	SHEL	TTE	NFG	TGS
PBR		0.32	0.54	-0.16	0.67	0.67	0.59	0.57	0.53	-0.05	PBR
EQNR	0.32		0.55	0.12	0.22	0.39	0.54	0.39	0.25	0.3	EQNR
E	0.54	0.55		-0.65	0.83	0.9	0.98	0.93	0.88	-0.45	E
YPF	-0.16	0.12	-0.65		-0.75	-0.66	-0.65	-0.76	-0.84	0.91	YPF
EC	0.67	0.22	0.83	-0.75		0.92	0.85	0.9	0.89	-0.56	EC
BP	0.67	0.39	0.9	-0.66	0.92		0.91	0.93	0.86	-0.48	BP
SHEL	0.59	0.54	0.98	-0.65	0.85	0.91		0.95	0.91	-0.44	SHEL
TTE	0.57	0.39	0.93	-0.76	0.9	0.93	0.95		0.96	-0.58	TTE
NFG	0.53	0.25	0.88	-0.84	0.89	0.86	0.91	0.96		-0.7	NFG
TGS	-0.05	0.3	-0.45	0.91	-0.56	-0.48	-0.44	-0.58	-0.7		TGS
	PBR	EQNR	E	YPF	EC	BP	SHEL	TTE	NFG	TGS

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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

SHEL	+ 0.98	E
NFG	+ 0.96	TTE
TTE	+ 0.95	SHEL
TTE	+ 0.93	E
TTE	+ 0.93	BP
BP	+ 0.92	EC

High negative correlations

NFG	- 0.84	YPF
TTE	- 0.76	YPF
EC	- 0.75	YPF
TGS	- 0.7	NFG
BP	- 0.66	YPF
SHEL	- 0.65	YPF

Risk-Adjusted Indicators

There is a big difference between Petrleo Stock performing well and Petrleo Brasileiro 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 Petrleo Brasileiro'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
PBR	1.20	0.15	0.10	0.39	1.61	(1.24)	3.07	(1.66)	10.11
EQNR	1.53	0.24	0.13	1.79	1.88	(1.60)	3.68	(3.12)	9.90
E	0.85	0.21	0.20	0.55	0.92	(0.86)	1.77	(1.50)	4.52
YPF	2.12	(0.26)	0.00	(0.42)	0.00	0.00	4.92	(5.00)	12.88
EC	1.74	0.40	0.19	0.52	1.69	(2.00)	4.99	(3.80)	11.63
BP	1.04	0.28	0.22	1.01	1.11	(1.17)	2.50	(1.88)	10.62
SHEL	0.80	0.23	0.23	0.59	0.83	(0.85)	1.93	(1.84)	5.34
TTE	0.74	0.25	0.35	1.14	0.45	(0.85)	1.87	(1.34)	4.36
NFG	0.88	0.41	0.41	0.88	0.59	(1.05)	2.32	(1.57)	4.36
TGS	2.84	(0.06)	0.00	(0.10)	0.00	0.00	6.71	(5.05)	18.61

Petrleo Brasileiro Corporate Management

William Silva	Chief Board	Profile
Rodrigo Silva	Chief Board	Profile
Marcus Guimaraes	Executive Auditing	Profile
Hlio Jnior	Acting Counsel	Profile
Carlos Travassos	Technology Engineering	Profile
Paulo Palaia	Chief Board	Profile
Fernando Borges	Chief Board	Profile

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