Shell PLC Correlations

SHEL Stock

USD 71.95 0.43 0.60%

The current 90-days correlation between Shell PLC ADR and Exxon Mobil Corp is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shell PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shell PLC ADR moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shell PLC Correlation With Market

Weak diversification

The correlation between Shell PLC ADR and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shell PLC ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shell PLC ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Shell Stock

0.97	E	Eni SpA ADR	Pair Corr
0.91	BP	BP PLC ADR	Pair Corr
0.87	EC	Ecopetrol SA ADR	Pair Corr
0.87	CVX	Chevron Corp	Pair Corr
0.67	IMO	Imperial Oil	Pair Corr
0.9	NFG	National Fuel Gas	Pair Corr
0.95	TTE	TotalEnergies SE ADR	Pair Corr
0.79	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.93	AM	Antero Midstream Partners	Pair Corr
0.7	AR	Antero Resources Corp Sell-off Trend	Pair Corr
0.91	NC	NACCO Industries	Pair Corr

Moving against Shell Stock

0.74	VIVK	Vivakor	Pair Corr
0.66	YPF	YPF Sociedad Anonima	Pair Corr
0.5	SKYQ	Sky Quarry	Pair Corr
0.48	TGS	Transportadora de Gas	Pair Corr
0.31	CVE	Cenovus Energy	Pair Corr
0.66	EU	enCore Energy Corp	Pair Corr
0.58	DLNG	Dynagas LNG Partners	Pair Corr
0.51	HP	Helmerich and Payne	Pair Corr
0.51	VIST	Vista Oil Gas	Pair Corr
0.47	DMLP	Dorchester Minerals	Pair Corr
0.43	NE	Noble plc	Pair Corr
0.42	SM	SM Energy	Pair Corr
0.37	EE	Excelerate Energy	Pair Corr

Related Correlations Analysis

	XOM	CVX	TTE	PBR	EQNR	BP	E	GLPEY	SU	EC
XOM		0.88	0.69	0.51	0.44	0.69	0.81	-0.24	0.51	0.63	XOM
CVX	0.88		0.83	0.63	0.43	0.81	0.87	-0.32	0.67	0.73	CVX
TTE	0.69	0.83		0.55	0.31	0.92	0.93	-0.64	0.49	0.9	TTE
PBR	0.51	0.63	0.55		0.29	0.66	0.53	-0.2	0.84	0.66	PBR
EQNR	0.44	0.43	0.31	0.29		0.31	0.46	-0.24	0.5	0.17	EQNR
BP	0.69	0.81	0.92	0.66	0.31		0.89	-0.62	0.62	0.93	BP
E	0.81	0.87	0.93	0.53	0.46	0.89		-0.58	0.49	0.85	E
GLPEY	-0.24	-0.32	-0.64	-0.2	-0.24	-0.62	-0.58		-0.08	-0.7	GLPEY
SU	0.51	0.67	0.49	0.84	0.5	0.62	0.49	-0.08		0.48	SU
EC	0.63	0.73	0.9	0.66	0.17	0.93	0.85	-0.7	0.48		EC
	XOM	CVX	TTE	PBR	EQNR	BP	E	GLPEY	SU	EC

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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

E	+ 0.93	TTE
EC	+ 0.93	BP
BP	+ 0.92	TTE
EC	+ 0.9	TTE
E	+ 0.89	BP
CVX	+ 0.88	XOM

High negative correlations

EC	- 0.7	GLPEY
GLPEY	- 0.64	TTE
GLPEY	- 0.62	BP
GLPEY	- 0.58	E
GLPEY	- 0.32	CVX
GLPEY	- 0.24	EQNR

Risk-Adjusted Indicators

There is a big difference between Shell Stock performing well and Shell PLC 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 Shell PLC'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
XOM	1.06	0.09	0.09	0.13	1.38	(1.10)	2.55	(2.36)	5.89
CVX	1.11	0.12	0.10	0.22	1.57	(1.04)	2.06	(2.72)	6.46
TTE	0.77	0.23	0.28	0.71	0.73	(0.85)	1.87	(1.44)	4.36
PBR	1.26	0.09	0.07	0.13	1.78	(1.25)	3.07	(2.36)	10.11
EQNR	1.60	0.13	0.09	0.57	2.09	(1.63)	3.68	(3.54)	9.90
BP	1.09	0.25	0.20	0.60	1.25	(1.20)	2.50	(2.18)	10.62
E	0.87	0.19	0.20	0.39	1.03	(0.87)	1.77	(1.52)	4.52
GLPEY	1.29	(0.08)	0.00	0.71	0.00	0.00	2.41	(3.28)	11.82
SU	1.22	0.04	0.04	(0.01)	1.70	(1.22)	2.74	(2.60)	9.19
EC	1.79	0.38	0.17	0.38	1.81	(2.04)	4.99	(3.80)	11.63

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