PHX Energy Correlations

PHXHF Stock

USD 6.31 0.09 1.45%

The current 90-days correlation between PHX Energy Services and ConnectOne Bancorp is 0.18 (i.e., Average diversification). The correlation of PHX 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.

PHX Energy Correlation With Market

Average diversification

The correlation between PHX Energy Services and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PHX Energy Services and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PHX 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 PHX 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 PHX 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 PHX Energy Services to buy it.

Moving against PHX OTC Stock

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0.53	GTOR	Ggtoor Inc	Pair Corr
0.53	NBIX	Neurocrine Biosciences	Pair Corr
0.47	MMV	MultiMetaVerse Holdings	Pair Corr
0.45	YPF	YPF Sociedad Anonima	Pair Corr
0.45	SAPMF	Saipem SpA	Pair Corr
0.43	FNMFO	Federal National Mortgage	Pair Corr
0.43	RELY	Remitly Global Tech Boost	Pair Corr
0.42	OPTX	Syntec Optics Holdings Trending	Pair Corr
0.39	EVGR	Evergreen Corp	Pair Corr
0.38	MSB	Mesabi Trust Downward Rally	Pair Corr
0.35	PETS	PetMed Express	Pair Corr
0.34	TGTX	TG Therapeutics	Pair Corr
0.63	THCPU	Thunder Bridge Capital	Pair Corr
0.46	XMTR	Xometry Upward Rally	Pair Corr
0.44	PWOD	Penns Woods Bancorp	Pair Corr
0.43	HUT	Hut 8 Corp	Pair Corr
0.43	YELP	Yelp Inc	Pair Corr
0.42	DMRC	Digimarc	Pair Corr
0.42	AS	Amer Sports,	Pair Corr
0.38	OBYCF	Obayashi	Pair Corr
0.32	CNOBP	ConnectOne Bancorp	Pair Corr
0.31	GIFI	Gulf Island Fabrication	Pair Corr

Related Correlations Analysis

	STMGF	VLERF	IVCTF	AOIFF	CNOBP	RCMT	BLK	FRCOF	AGLDF	OBYCF
STMGF		-0.34	0.44	-0.01	-0.36	-0.47	-0.54	-0.61	0.41	-0.31	STMGF
VLERF	-0.34		-0.68	0.25	0.86	0.61	0.78	-0.04	-0.35	0.83	VLERF
IVCTF	0.44	-0.68		-0.2	-0.65	-0.57	-0.71	0.13	0.28	-0.61	IVCTF
AOIFF	-0.01	0.25	-0.2		0.36	0.18	0.26	-0.07	-0.18	0.41	AOIFF
CNOBP	-0.36	0.86	-0.65	0.36		0.6	0.81	0.03	-0.29	0.87	CNOBP
RCMT	-0.47	0.61	-0.57	0.18	0.6		0.74	0.01	-0.4	0.51	RCMT
BLK	-0.54	0.78	-0.71	0.26	0.81	0.74		0.12	-0.52	0.65	BLK
FRCOF	-0.61	-0.04	0.13	-0.07	0.03	0.01	0.12		-0.26	-0.06	FRCOF
AGLDF	0.41	-0.35	0.28	-0.18	-0.29	-0.4	-0.52	-0.26		-0.21	AGLDF
OBYCF	-0.31	0.83	-0.61	0.41	0.87	0.51	0.65	-0.06	-0.21		OBYCF
	STMGF	VLERF	IVCTF	AOIFF	CNOBP	RCMT	BLK	FRCOF	AGLDF	OBYCF

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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

OBYCF	+ 0.87	CNOBP
CNOBP	+ 0.86	VLERF
OBYCF	+ 0.83	VLERF
BLK	+ 0.81	CNOBP
BLK	+ 0.78	VLERF
BLK	+ 0.74	RCMT

High negative correlations

BLK	- 0.71	IVCTF
IVCTF	- 0.68	VLERF
CNOBP	- 0.65	IVCTF
OBYCF	- 0.61	IVCTF
FRCOF	- 0.61	STMGF
RCMT	- 0.57	IVCTF

Risk-Adjusted Indicators

There is a big difference between PHX OTC Stock performing well and PHX Energy OTC Stock 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 PHX 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
STMGF	5.90	0.05	0.00	0.00	0.00	0.00	2.46	(19.20)	139.28
VLERF	2.95	0.44	0.13	1.88	2.94	(3.69)	6.33	(5.36)	21.15
IVCTF	4.21	(0.28)	0.00	(0.32)	0.00	0.00	10.68	(9.86)	36.90
AOIFF	2.13	(0.05)	0.00	(0.17)	0.00	0.00	4.65	(4.08)	10.01
CNOBP	0.69	0.10	0.08	0.25	0.81	(0.82)	1.75	(1.61)	5.84
RCMT	1.59	0.11	0.04	0.25	2.15	(1.85)	3.43	(3.34)	12.78
BLK	0.83	0.13	0.12	0.22	0.82	(0.91)	1.85	(1.63)	6.38
FRCOF	0.93	0.18	0.00	(0.96)	0.00	0.00	2.65	(0.98)	23.45
AGLDF	19.09	5.25	0.14	0.82	16.03	(53.25)	93.07	(41.86)	239.23
OBYCF	0.79	0.28	0.00	0.82	0.00	0.00	0.00	0.00	23.53

Be your own money manager

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