Pacific Gas Correlations

Preferred Stocks . USA . 
Preferred Stock . Pacific Gas and
PCG-PI Preferred Stock  USD 15.01  0.32  2.09%   
The current 90-days correlation between Pacific Gas and Duke Energy Corp is 0.1 (i.e., Average diversification). The correlation of Pacific Gas 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.

Pacific Gas Correlation With Market

Modest diversification

The correlation between Pacific Gas and and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacific Gas and and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Pacific Gas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pacific Gas 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 Pacific Gas - 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 Pacific Gas and to buy it.

Moving together with Pacific Preferred Stock

  0.65EIX Edison International Earnings Call This WeekPairCorr
  0.66PCG PGE CorpPairCorr

Moving against Pacific Preferred Stock

  0.64EMA Emera IncorporatedPairCorr
  0.64GNE Genie EnergyPairCorr
  0.54KEP Korea Electric PowerPairCorr
  0.49ELP Companhia ParanaensePairCorr
  0.48ELPC Companhia ParanaensePairCorr
  0.37ES Eversource Energy Earnings Call This WeekPairCorr
  0.36EVRG Evergy,PairCorr
  0.35D Dominion EnergyPairCorr
  0.34CMS-PC CMS Energy Earnings Call This WeekPairCorr
  0.32HE Hawaiian ElectricPairCorr
  0.62TLN Talen Energy Upward RallyPairCorr
  0.57SCE-PJ SCE Trust IVPairCorr
  0.54NGG National Grid PLCPairCorr
  0.38PEG Public Service EnterprisePairCorr

Related Correlations Analysis

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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   
SOJC
+ 0.95
CMSD
CMSD
+ 0.88
NRUC
SOJC
+ 0.75
NRUC
SOJC
+ 0.66
SOJD
CMSD
+ 0.54
SOJD
NRUC
+ 0.23
SOJD
  
High negative correlations   
SOJC
- 0.32
DUKB
CMSD
- 0.27
DUKB
SOJD
- 0.2
DUKB
NRUC
- 0.06
DUKB

Risk-Adjusted Indicators

There is a big difference between Pacific Preferred Stock performing well and Pacific Gas 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 Pacific Gas' 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.

Be your own money manager

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