PEDEVCO Corp Correlations

PED Stock

USD 0.64 0.02 3.03%

The current 90-days correlation between PEDEVCO Corp and Permianville Royalty Trust is 0.11 (i.e., Average diversification). The correlation of PEDEVCO Corp 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.

PEDEVCO Corp Correlation With Market

Good diversification

The correlation between PEDEVCO Corp and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PEDEVCO Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PEDEVCO Corp. 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.

For information on how to trade PEDEVCO Stock refer to our How to Trade PEDEVCO Stock guide.

Moving together with PEDEVCO Stock

0.72	AR	Antero Resources Corp Earnings Call This Week	Pair Corr
0.78	PR	Permian Resources	Pair Corr
0.82	SD	SandRidge Energy	Pair Corr
0.69	SM	SM Energy Earnings Call This Week	Pair Corr
0.61	VIST	Vista Oil Gas	Pair Corr
0.71	VTLE	Vital Energy	Pair Corr
0.69	EPSN	Epsilon Energy	Pair Corr
0.74	FANG	Diamondback Energy	Pair Corr
0.75	APA	APA Corporation	Pair Corr
0.84	BKV	BKV Corporation	Pair Corr
0.68	BTE	Baytex Energy Corp Earnings Call Today	Pair Corr
0.82	CNQ	Canadian Natural Res Earnings Call This Week	Pair Corr
0.71	CNX	CNX Resources Corp Earnings Call Tomorrow	Pair Corr
0.78	CRC	California Resources Corp	Pair Corr
0.81	CRK	Comstock Resources Earnings Call This Week	Pair Corr
0.82	DEC	Diversified Energy	Pair Corr
0.61	DVN	Devon Energy	Pair Corr
0.66	EOG	EOG Resources	Pair Corr
0.79	EPM	Evolution Petroleum	Pair Corr
0.76	EQT	EQT Corporation	Pair Corr
0.72	EXE	Expand Energy Earnings Call This Week	Pair Corr
0.75	GTE	Gran Tierra Energy	Pair Corr
0.81	KRP	Kimbell Royalty Partners	Pair Corr
0.78	MGY	Magnolia Oil Gas Earnings Call This Week	Pair Corr
0.72	MNR	Mach Natural Resources	Pair Corr

Moving against PEDEVCO Stock

0.49	DMLP	Dorchester Minerals	Pair Corr
0.44	BSM	Black Stone Minerals	Pair Corr
0.39	ANNAW	AleAnna, Warrant	Pair Corr
0.66	TXO	MorningStar Partners,	Pair Corr
0.57	TPL	Texas Pacific Land Earnings Call This Week	Pair Corr
0.5	REI	Ring Energy	Pair Corr

Related Correlations Analysis

	REI	HUSA	PVL	GTE	PHX	GBR	ENSV	BRN
REI		-0.14	-0.53	-0.03	-0.32	-0.3	0.0	0.51	REI
HUSA	-0.14		0.69	0.65	0.62	0.83	0.0	0.28	HUSA
PVL	-0.53	0.69		0.64	0.73	0.83	0.0	-0.02	PVL
GTE	-0.03	0.65	0.64		0.4	0.8	0.0	0.49	GTE
PHX	-0.32	0.62	0.73	0.4		0.54	0.0	0.0	PHX
GBR	-0.3	0.83	0.83	0.8	0.54		0.0	0.23	GBR
ENSV	0.0	0.0	0.0	0.0	0.0	0.0		0.0	ENSV
BRN	0.51	0.28	-0.02	0.49	0.0	0.23	0.0		BRN
	REI	HUSA	PVL	GTE	PHX	GBR	ENSV	BRN

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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

GBR	+ 0.83	HUSA
GBR	+ 0.83	PVL
GBR	+ 0.8	GTE
PHX	+ 0.73	PVL
PVL	+ 0.69	HUSA
GTE	+ 0.65	HUSA

High negative correlations

PVL	- 0.53	REI
PHX	- 0.32	REI
GBR	- 0.3	REI
HUSA	- 0.14	REI
GTE	- 0.03	REI
BRN	- 0.02	PVL

Risk-Adjusted Indicators

There is a big difference between PEDEVCO Stock performing well and PEDEVCO Corp 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 PEDEVCO Corp'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
REI	2.81	(0.05)	0.00	11.06	0.00	0.00	5.33	(5.43)	15.51
HUSA	10.08	2.47	0.18	(29.87)	10.23	(12.61)	25.27	(15.43)	151.46
PVL	1.78	0.30	0.08	0.99	2.04	(2.22)	4.67	(3.77)	13.52
GTE	2.67	0.27	(0.01)	(0.17)	2.73	(3.41)	6.13	(4.44)	22.05
PHX	1.56	0.15	(0.01)	(11.35)	1.94	(2.30)	4.06	(3.93)	21.08
GBR	4.21	0.70	0.07	(0.84)	5.04	(6.38)	10.23	(5.19)	61.84
ENSV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRN	3.54	0.07	0.00	0.11	0.00	0.00	7.03	(5.74)	56.04

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