World Oil Correlations

MONI Stock

USD 0 0.0002 5.00%

The current 90-days correlation between World Oil Group and Global Techs is -0.26 (i.e., Very good diversification). The correlation of World Oil 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.

World Oil Correlation With Market

Very good diversification

The correlation between World Oil Group 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 World Oil Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against World Pink Sheet

0.53	SHG	Shinhan Financial	Pair Corr
0.45	MTC	MMTEC Inc Tech Boost	Pair Corr
0.42	BCH	Banco De Chile	Pair Corr
0.4	KB	KB Financial Group	Pair Corr
0.35	JBHT	JB Hunt Transport	Pair Corr
0.33	AVAL	Grupo Aval	Pair Corr
0.32	MMM	3M Company	Pair Corr
0.31	MITSY	Mitsui Company	Pair Corr
0.6	MRK	Merck Company Aggressive Push	Pair Corr
0.52	JNJ	Johnson Johnson	Pair Corr
0.44	AAPL	Apple Inc	Pair Corr
0.42	KO	Coca Cola Aggressive Push	Pair Corr
0.42	IBM	International Business Sell-off Trend	Pair Corr
0.4	CAT	Caterpillar	Pair Corr
0.4	INTC	Intel	Pair Corr
0.4	CSCO	Cisco Systems	Pair Corr
0.4	AA	Alcoa Corp	Pair Corr
0.31	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Related Correlations Analysis

	GTLL	SAHN	ABLT	CUBXF	GOGR	AIPG	RJDG	SNTE	EAATF	DWAY
GTLL		0.0	0.26	-0.14	0.02	0.01	-0.31	-0.26	-0.28	-0.09	GTLL
SAHN	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SAHN
ABLT	0.26	0.0		-0.02	-0.01	0.38	0.02	-0.23	-0.28	-0.46	ABLT
CUBXF	-0.14	0.0	-0.02		0.04	-0.25	0.26	0.19	0.25	0.3	CUBXF
GOGR	0.02	0.0	-0.01	0.04		-0.03	0.33	0.52	0.46	0.19	GOGR
AIPG	0.01	0.0	0.38	-0.25	-0.03		0.11	-0.12	-0.16	-0.19	AIPG
RJDG	-0.31	0.0	0.02	0.26	0.33	0.11		0.72	0.61	0.24	RJDG
SNTE	-0.26	0.0	-0.23	0.19	0.52	-0.12	0.72		0.81	0.41	SNTE
EAATF	-0.28	0.0	-0.28	0.25	0.46	-0.16	0.61	0.81		0.44	EAATF
DWAY	-0.09	0.0	-0.46	0.3	0.19	-0.19	0.24	0.41	0.44		DWAY
	GTLL	SAHN	ABLT	CUBXF	GOGR	AIPG	RJDG	SNTE	EAATF	DWAY

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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

EAATF	+ 0.81	SNTE
SNTE	+ 0.72	RJDG
EAATF	+ 0.61	RJDG
SNTE	+ 0.52	GOGR
EAATF	+ 0.46	GOGR
DWAY	+ 0.44	EAATF

High negative correlations

DWAY	- 0.46	ABLT
RJDG	- 0.31	GTLL
EAATF	- 0.28	ABLT
EAATF	- 0.28	GTLL
SNTE	- 0.26	GTLL
AIPG	- 0.25	CUBXF

Risk-Adjusted Indicators

There is a big difference between World Pink Sheet performing well and World Oil 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 World Oil'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
GTLL	27.92	6.25	0.13	(2.07)	22.51	(76.92)	100.00	(50.00)	150.00
SAHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ABLT	0.27	(0.06)	0.00	(0.44)	0.00	0.00	0.00	0.00	12.69
CUBXF	27.44	7.27	0.19	0.60	19.46	(89.41)	100.73	(51.22)	379.00
GOGR	18.83	3.70	0.10	1.04	16.77	(60.45)	75.00	(40.00)	190.00
AIPG	863.46	431.79	0.00	4.61	0.00	0.00	12.25	(5.56)	28,982
RJDG	4.44	0.19	0.00	(0.08)	5.44	(8.74)	14.75	(11.43)	46.79
SNTE	0.85	(0.44)	0.00	61.87	0.00	0.00	0.00	0.00	28.33
EAATF	4.83	(1.52)	0.00	1.17	0.00	0.00	12.00	(20.70)	88.05
DWAY	4.99	0.23	0.02	0.14	6.84	(23.97)	12.76	(21.23)	104.61

Be your own money manager

Our tools can tell you how much better you can do entering a position in World Oil 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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