Use Petroamerica Oil to protect against small markets fluctuations. The stock experiences normal downward trend, but the immediate impact on correlations cannot be determined at the moment . Check odds of Petroamerica Oil to be traded at C$1.2375 in 30 days
Petroamerica Oil Daily Price Distribution
The median price of Petroamerica Oil for the period between Thu, May 26, 2016 and Sat, Jun 25, 2016 is 1.28 with a coefficient of variation of 1.6. The daily time series for the period is distributed with a sample standard deviation of 0.02, arithmetic mean of 1.27, and mean deviation of 0.02. The Stock received substential amount of media coverage during this period.
Petroamerica Oil Summary
Petroamerica Oil Corp (PTA) is traded on TSX Venture Exchange in Canada. It is located in Calgary, AB TP R and employs 42 people. The company currently falls under 'Small-Cap' category with current market capitalization of 136.11 M. Petroamerica Oil Corp has 108.89 M outstanding shares of which 79.4 K shares are at this time shorted by private and institutional investors with about 0.54 days to cover all short positions.
PRETIUM CAPITAL C has accumulated about 23.1 M in cash with 17.47 M of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.21.
Petroamerica Oil has high likelihood to experience some financial distress in the next 2 years
The company reported revenue of 77.36 M. Net Loss for the year was (136.4 M).
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Correlation analysis and pair trading evaluation for Petroamerica Oil and TransGlobe Energy. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return