Source Rock Correlations

SRR Stock

0.87 0.01 1.14%

The current 90-days correlation between Source Rock Royalties and Jericho Oil Corp is -0.14 (i.e., Good diversification). The correlation of Source Rock 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Source Rock Correlation With Market

Good diversification

The correlation between Source Rock Royalties and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Source Rock Royalties and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Source Stock

0.83	ENB-PFC	Enbridge Pref 11	Pair Corr
0.8	GOOG	Alphabet CDR	Pair Corr
0.82	AAPL	Apple Inc CDR	Pair Corr
0.86	WPG	West Point Gold Earnings Call Tomorrow	Pair Corr
0.83	MFC	Manulife Financial Corp	Pair Corr
0.64	GMX	Globex Mining Enterprises	Pair Corr
0.72	NCX	NorthIsle Copper	Pair Corr
0.61	KBRA	Kubera Gold Corp	Pair Corr
0.73	FMS	Focus Graphite	Pair Corr

Moving against Source Stock

0.75	META	Meta Platforms CDR	Pair Corr
0.4	ENS-PA	E Split Corp	Pair Corr
0.36	SAGE	Sage Potash Corp Earnings Call This Week	Pair Corr
0.42	SYH	Skyharbour Resources Earnings Call This Week	Pair Corr

Related Correlations Analysis

	JEV	DME	SFD	EOG	ROK	SDI	ROCK	PTU
JEV		0.78	-0.28	-0.36	0.4	0.08	-0.14	0.8	JEV
DME	0.78		-0.51	-0.63	0.73	-0.08	0.14	0.84	DME
SFD	-0.28	-0.51		0.5	-0.59	0.33	-0.35	-0.34	SFD
EOG	-0.36	-0.63	0.5		-0.51	0.28	-0.34	-0.38	EOG
ROK	0.4	0.73	-0.59	-0.51		-0.08	0.32	0.57	ROK
SDI	0.08	-0.08	0.33	0.28	-0.08		-0.31	0.15	SDI
ROCK	-0.14	0.14	-0.35	-0.34	0.32	-0.31		-0.1	ROCK
PTU	0.8	0.84	-0.34	-0.38	0.57	0.15	-0.1		PTU
	JEV	DME	SFD	EOG	ROK	SDI	ROCK	PTU

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

PTU	+ 0.84	DME
PTU	+ 0.8	JEV
DME	+ 0.78	JEV
ROK	+ 0.73	DME
PTU	+ 0.57	ROK
EOG	+ 0.5	SFD

High negative correlations

EOG	- 0.63	DME
ROK	- 0.59	SFD
ROK	- 0.51	EOG
SFD	- 0.51	DME
PTU	- 0.38	EOG
EOG	- 0.36	JEV

Risk-Adjusted Indicators

There is a big difference between Source Stock performing well and Source Rock 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 Source Rock'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
JEV	4.11	0.17	0.02	0.30	5.03	(9.46)	9.09	(7.69)	39.80
DME	5.90	1.08	0.13	5.08	5.91	(8.53)	14.63	(12.12)	40.00
SFD	4.16	(1.20)	0.00	(0.66)	0.00	0.00	7.69	(10.71)	24.29
EOG	1.73	(0.09)	0.00	0.10	0.00	0.00	6.67	(6.67)	19.64
ROK	2.27	0.22	0.03	(0.79)	2.33	(6.18)	5.26	(5.00)	25.40
SDI	3.54	0.07	0.00	(1.51)	5.05	(8.67)	7.69	(7.14)	36.86
ROCK	5.49	1.63	0.29	1.02	4.38	(7.54)	10.53	(7.53)	106.37
PTU	3.95	0.13	0.02	(4.13)	4.74	(4.74)	8.89	(9.37)	24.80

Be your own money manager

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