Spindletop Correlations

SPND Stock

USD 2.00 0.00 0.00%

The current 90-days correlation between Spindletop OG and Petroleo Brasileiro Petrobras is 0.11 (i.e., Average diversification). The correlation of Spindletop 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.

Spindletop Correlation With Market

Good diversification

The correlation between Spindletop OG and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spindletop OG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Spindletop Pink Sheet

0.81	VLCN	Volcon Inc	Pair Corr
0.9	AULT	AULT Old Symbol Change	Pair Corr
0.95	PSGTF	PT Semen Indonesia	Pair Corr
0.76	NVR	NVR Inc	Pair Corr
0.71	BPTS	Biophytis	Pair Corr
0.69	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.62	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.79	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.7	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Moving against Spindletop Pink Sheet

0.83	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.82	DIS	Walt Disney	Pair Corr
0.75	T	ATT Inc Sell-off Trend	Pair Corr
0.74	CSCO	Cisco Systems	Pair Corr
0.71	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.69	BKNG	Booking Holdings	Pair Corr
0.65	AMKBY	AP Moeller Maersk	Pair Corr
0.64	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.57	BAC	Bank of America Earnings Call This Week	Pair Corr
0.44	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.38	KAKZF	Kaspi Bank Joint	Pair Corr

Related Correlations Analysis

	PBR	EQNR	E	YPF	EC	BP	SHEL	TTE	NFG	TGS
PBR		0.75	0.35	-0.1	0.88	0.65	0.42	0.38	0.27	-0.09	PBR
EQNR	0.75		0.44	-0.18	0.85	0.73	0.46	0.45	0.32	-0.11	EQNR
E	0.35	0.44		-0.91	0.49	0.63	0.93	0.97	0.02	-0.83	E
YPF	-0.1	-0.18	-0.91		-0.25	-0.45	-0.76	-0.94	0.16	0.96	YPF
EC	0.88	0.85	0.49	-0.25		0.86	0.5	0.53	0.12	-0.25	EC
BP	0.65	0.73	0.63	-0.45	0.86		0.62	0.68	0.02	-0.47	BP
SHEL	0.42	0.46	0.93	-0.76	0.5	0.62		0.87	0.07	-0.65	SHEL
TTE	0.38	0.45	0.97	-0.94	0.53	0.68	0.87		-0.08	-0.88	TTE
NFG	0.27	0.32	0.02	0.16	0.12	0.02	0.07	-0.08		0.25	NFG
TGS	-0.09	-0.11	-0.83	0.96	-0.25	-0.47	-0.65	-0.88	0.25		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

TTE	+ 0.97	E
TGS	+ 0.96	YPF
SHEL	+ 0.93	E
EC	+ 0.88	PBR
TTE	+ 0.87	SHEL
BP	+ 0.86	EC

High negative correlations

TTE	- 0.94	YPF
YPF	- 0.91	E
TGS	- 0.88	TTE
TGS	- 0.83	E
SHEL	- 0.76	YPF
TGS	- 0.65	SHEL

Risk-Adjusted Indicators

There is a big difference between Spindletop Pink Sheet performing well and Spindletop 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 Spindletop'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	1.29	(0.06)	0.00	3.48	0.00	0.00	2.44	(2.74)	10.24
EQNR	1.68	0.00	0.00	0.03	2.44	(1.50)	3.60	(3.69)	8.46
E	0.82	(0.15)	0.00	(1.11)	0.00	0.00	1.27	(2.07)	3.96
YPF	1.98	1.12	0.52	3.05	1.37	(2.52)	6.08	(2.63)	14.98
EC	1.42	(0.07)	0.00	0.22	0.00	0.00	3.13	(3.28)	8.31
BP	1.16	0.00	0.00	(0.12)	1.95	(1.02)	1.80	(3.34)	8.28
SHEL	0.88	(0.04)	0.00	(0.27)	0.00	0.00	2.25	(2.19)	5.88
TTE	0.95	(0.24)	0.00	2.57	0.00	0.00	1.46	(2.56)	6.19
NFG	0.98	0.02	0.02	0.17	1.40	(1.01)	2.12	(1.87)	8.64
TGS	2.02	0.85	0.40	(1.56)	1.48	(2.36)	6.42	(3.08)	12.04

Be your own money manager

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