Ecopetrol Correlations

EC Stock

USD 9.91 0.04 0.40%

The current 90-days correlation between Ecopetrol SA ADR and Bangkok Dusit Medical is -0.31 (i.e., Very good diversification). The correlation of Ecopetrol 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.

Ecopetrol Correlation With Market

Good diversification

The correlation between Ecopetrol SA ADR 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 Ecopetrol SA ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ecopetrol Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Ecopetrol SA ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in private.

Moving together with Ecopetrol Stock

0.8	XOM	Exxon Mobil Corp	Pair Corr
0.76	CLLFF	Collins Foods Limited	Pair Corr

Moving against Ecopetrol Stock

0.84	0A4Y	AIM ImmunoTech	Pair Corr
0.71	ARE	Alexandria Real Estate	Pair Corr
0.61	DSKYF	Daiichi Sankyo	Pair Corr
0.5	BISI	Bisichi Mining PLC	Pair Corr
0.47	OPHLF	Ono Pharmaceutical	Pair Corr
0.45	ESALF	Eisai Co	Pair Corr
0.44	RGRLF	Star Phoenix Group	Pair Corr

Related Correlations Analysis

	BDULF	HMENF	UDIRY	FIGI	DMAA	KMTS	XCOMQ	PFSMF
BDULF		-0.06	-0.33	0.0	-0.76	-0.46	0.0	0.0	BDULF
HMENF	-0.06		0.5	0.0	0.05	0.36	0.0	0.0	HMENF
UDIRY	-0.33	0.5		0.0	0.54	0.62	0.0	0.0	UDIRY
FIGI	0.0	0.0	0.0		0.0	0.0	-1.0	-1.0	FIGI
DMAA	-0.76	0.05	0.54	0.0		0.57	0.0	0.0	DMAA
KMTS	-0.46	0.36	0.62	0.0	0.57		0.0	0.0	KMTS
XCOMQ	0.0	0.0	0.0	-1.0	0.0	0.0		1.0	XCOMQ
PFSMF	0.0	0.0	0.0	-1.0	0.0	0.0	1.0		PFSMF
	BDULF	HMENF	UDIRY	FIGI	DMAA	KMTS	XCOMQ	PFSMF

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

PFSMF	+ 1.0	XCOMQ
KMTS	+ 0.62	UDIRY
KMTS	+ 0.57	DMAA
DMAA	+ 0.54	UDIRY
UDIRY	+ 0.5	HMENF
KMTS	+ 0.36	HMENF

High negative correlations

PFSMF	- 1.0	FIGI
XCOMQ	- 1.0	FIGI
DMAA	- 0.76	BDULF
KMTS	- 0.46	BDULF
UDIRY	- 0.33	BDULF
HMENF	- 0.06	BDULF

Risk-Adjusted Indicators

There is a big difference between Ecopetrol Stock performing well and Ecopetrol 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 Ecopetrol'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
BDULF	0.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.96
HMENF	1.70	0.12	0.01	(5.99)	2.52	(2.00)	4.79	(2.48)	15.23
UDIRY	0.46	0.18	0.00	(1.10)	0.00	0.00	0.00	0.00	13.53
FIGI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DMAA	0.12	0.00	(0.37)	0.06	0.08	(0.18)	0.29	(0.29)	0.88
KMTS	2.81	0.64	0.20	0.40	2.92	(3.03)	6.19	(6.34)	27.13
XCOMQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFSMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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