Petrovietnam Technical Correlations

PVS Stock

34,300 400.00 1.18%

The current 90-days correlation between Petrovietnam Technical and PVI Reinsurance Corp is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Petrovietnam Technical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Petrovietnam Technical Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Petrovietnam Technical Correlation With Market

Modest diversification

The correlation between Petrovietnam Technical Service and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Petrovietnam Technical Service and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Petrovietnam Technical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Petrovietnam Technical 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 Petrovietnam Technical - 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 Petrovietnam Technical Services to buy it.

Moving together with Petrovietnam Stock

0.88	ADS	Damsan JSC	Pair Corr
0.84	AAA	An Phat Plastic	Pair Corr
0.82	AME	Alphanam ME	Pair Corr
0.77	APG	APG Securities Joint	Pair Corr
0.7	AAM	Mekong Fisheries JSC	Pair Corr
0.69	ABT	Bentre Aquaproduct Import	Pair Corr

Related Correlations Analysis

	PRE	ELC	PGI	TTF	BHN	SGT	BCF
PRE		-0.08	-0.13	0.13	0.49	-0.22	-0.11	PRE
ELC	-0.08		-0.37	-0.35	0.26	0.17	0.59	ELC
PGI	-0.13	-0.37		0.48	-0.27	-0.28	-0.4	PGI
TTF	0.13	-0.35	0.48		0.17	-0.53	-0.76	TTF
BHN	0.49	0.26	-0.27	0.17		-0.27	0.0	BHN
SGT	-0.22	0.17	-0.28	-0.53	-0.27		0.17	SGT
BCF	-0.11	0.59	-0.4	-0.76	0.0	0.17		BCF
	PRE	ELC	PGI	TTF	BHN	SGT	BCF

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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

BCF	+ 0.59	ELC
BHN	+ 0.49	PRE
TTF	+ 0.48	PGI
BHN	+ 0.26	ELC
SGT	+ 0.17	ELC
BHN	+ 0.17	TTF

High negative correlations

BCF	- 0.76	TTF
SGT	- 0.53	TTF
BCF	- 0.4	PGI
PGI	- 0.37	ELC
TTF	- 0.35	ELC
SGT	- 0.28	PGI

Risk-Adjusted Indicators

There is a big difference between Petrovietnam Stock performing well and Petrovietnam Technical 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 Petrovietnam Technical'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
PRE	1.05	(0.02)	0.00	0.20	0.00	0.00	2.22	(2.16)	10.65
ELC	1.07	0.21	0.08	0.96	1.16	(1.17)	2.94	(2.04)	7.38
PGI	1.07	(0.09)	0.00	(0.38)	0.00	0.00	3.22	(3.33)	11.80
TTF	1.00	(0.24)	0.00	(0.19)	0.00	0.00	1.99	(2.91)	10.58
BHN	0.78	(0.02)	0.00	0.20	0.00	0.00	2.43	(1.60)	5.43
SGT	0.87	(0.01)	(0.07)	0.05	1.10	(1.27)	2.00	(2.60)	7.34
BCF	2.26	0.38	0.05	(1.00)	2.79	(3.11)	5.00	(6.67)	16.98

Be your own money manager

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