Total Gabon Correlations
| RZW Stock | EUR 185.50 2.00 1.07% |
The current 90-days correlation between Total Gabon and Alibaba Group Holding is 0.2 (i.e., Modest diversification). The correlation of Total Gabon 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.
Total Gabon Correlation With Market
Very good diversification
The correlation between Total Gabon and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Total Gabon and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Total Gabon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Total Gabon 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 Total Gabon - 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 Total Gabon to buy it.
Moving together with Total Stock
| 0.78 | EO5 | EOG Resources | PairCorr |
| 0.75 | CRC | Canadian Natural Res | PairCorr |
| 0.69 | OPC | Occidental Petroleum | PairCorr |
| 0.63 | OPC | Occidental Petroleum | PairCorr |
| 0.92 | WOP | WOODSIDE ENE SPADR | PairCorr |
| 0.88 | PNK | Pioneer Natural Resources | PairCorr |
| 0.94 | WOP0 | Woodside Energy Group | PairCorr |
| 0.68 | KOM1 | Komatsu Earnings Call Next Week | PairCorr |
| 0.76 | AG8 | AGILENT TECH | PairCorr |
| 0.62 | 1W3 | WSP Global | PairCorr |
| 0.81 | FA2 | FORWARD AIR P | PairCorr |
| 0.86 | F1YN | Lundin Gold | PairCorr |
| 0.62 | JOT | ELEKTROBIT | PairCorr |
| 0.66 | HEI | Heidelberg Materials | PairCorr |
| 0.66 | E908 | Lyxor 1 | PairCorr |
Moving against Total Stock
| 0.56 | 2RR | Alibaba Group Holding | PairCorr |
| 0.48 | ODQ | ODYSSEY GOLD LTD Earnings Call This Week | PairCorr |
| 0.44 | 8VY | SCANDION ONC DK | PairCorr |
| 0.59 | DBPD | Xtrackers ShortDAX | PairCorr |
Related Correlations Analysis
| 0.06 | -0.31 | -0.18 | -0.14 | -0.08 | -0.62 | 2RR | ||
| 0.06 | 0.75 | 0.52 | 0.67 | 0.68 | 0.1 | YCP | ||
| -0.31 | 0.75 | 0.79 | 0.87 | 0.83 | 0.6 | EO5 | ||
| -0.18 | 0.52 | 0.79 | 0.87 | 0.86 | 0.65 | CRC | ||
| -0.14 | 0.67 | 0.87 | 0.87 | 0.98 | 0.53 | OPC | ||
| -0.08 | 0.68 | 0.83 | 0.86 | 0.98 | 0.47 | OPC | ||
| -0.62 | 0.1 | 0.6 | 0.65 | 0.53 | 0.47 | PNK | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Total Stock performing well and Total Gabon 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 Total Gabon'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2RR | 2.23 | 0.20 | (0.02) | (0.06) | 2.80 | 5.78 | 14.97 | |||
| YCP | 1.65 | 0.19 | (0.01) | (0.16) | 2.19 | 3.50 | 14.67 | |||
| EO5 | 1.24 | 0.15 | 0.00 | (0.66) | 1.24 | 3.37 | 8.53 | |||
| CRC | 1.47 | 0.25 | 0.03 | (0.33) | 1.73 | 3.23 | 10.23 | |||
| OPC | 1.53 | 0.25 | 0.02 | (0.33) | 1.67 | 4.44 | 11.94 | |||
| OPC | 1.74 | 0.26 | 0.03 | (0.35) | 1.80 | 4.43 | 10.74 | |||
| PNK | 5.83 | 0.29 | 0.06 | 0.21 | 5.75 | 22.73 | 49.77 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Total Gabon 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.Did you try this?
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