Barrister Energy Correlations

CJAX Stock

USD 3.50 0.00 0.00%

The current 90-days correlation between Barrister Energy LLC and Daybreak Oil and is -0.01 (i.e., Good diversification). The correlation of Barrister Energy 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.

Barrister Energy Correlation With Market

Significant diversification

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

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

Moving together with Barrister Pink Sheet

0.77	HES	Hess	Pair Corr
0.68	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.75	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.66	SMFG	Sumitomo Mitsui Financial	Pair Corr
0.64	SMFNF	Sumitomo Mitsui Financial Normal Trading	Pair Corr
0.8	MFG	Mizuho Financial	Pair Corr
0.72	MZHOF	Mizuho Financial	Pair Corr
0.73	AMSC	American Superconductor	Pair Corr
0.69	DTB	DTE Energy	Pair Corr
0.73	BP	BP PLC ADR	Pair Corr
0.73	TAWNF	Thai Airways Interna	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.72	GE	GE Aerospace	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr

Moving against Barrister Pink Sheet

0.38	CNQ	Canadian Natural Res	Pair Corr
0.49	PG	Procter Gamble Sell-off Trend	Pair Corr
0.41	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	BRNGF	ATUUF	DBRM	CSTPF	CLMEF	ADXRF	AERN	NSLPQ
BRNGF		-0.4	-0.01	0.31	0.0	0.21	0.0	0.0	BRNGF
ATUUF	-0.4		0.44	-0.32	0.0	-0.59	0.0	0.0	ATUUF
DBRM	-0.01	0.44		-0.22	0.0	-0.35	0.0	0.0	DBRM
CSTPF	0.31	-0.32	-0.22		0.0	0.34	0.0	0.0	CSTPF
CLMEF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CLMEF
ADXRF	0.21	-0.59	-0.35	0.34	0.0		0.0	0.0	ADXRF
AERN	0.0	0.0	0.0	0.0	0.0	0.0		0.0	AERN
NSLPQ	0.0	0.0	0.0	0.0	0.0	0.0	0.0		NSLPQ
	BRNGF	ATUUF	DBRM	CSTPF	CLMEF	ADXRF	AERN	NSLPQ

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

DBRM	+ 0.44	ATUUF
ADXRF	+ 0.34	CSTPF
CSTPF	+ 0.31	BRNGF
ADXRF	+ 0.21	BRNGF
CLMEF	+ 0.0	BRNGF
AERN	+ 0.0	BRNGF

High negative correlations

ADXRF	- 0.59	ATUUF
ATUUF	- 0.4	BRNGF
ADXRF	- 0.35	DBRM
CSTPF	- 0.32	ATUUF
CSTPF	- 0.22	DBRM
DBRM	- 0.01	BRNGF

Risk-Adjusted Indicators

There is a big difference between Barrister Pink Sheet performing well and Barrister Energy 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 Barrister Energy'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
BRNGF	3.02	0.40	0.00	(0.18)	0.00	0.00	0.00	0.00	100.00
ATUUF	1.84	0.42	0.21	0.88	1.29	(2.91)	6.33	(2.35)	14.22
DBRM	2.98	0.89	0.00	0.27	0.00	0.00	0.00	0.00	0.00
CSTPF	4.24	0.40	0.02	(0.94)	6.24	(23.70)	13.64	(13.33)	97.20
CLMEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ADXRF	5.15	0.30	0.00	0.01	0.00	0.00	0.00	(25.74)	155.54
AERN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NSLPQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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