Advantage Oil Correlations

Summary

AAVVFDelisted Stock

USD 6.03 0.13 2.11%

The correlation of Advantage 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Advantage Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advantage Oil Gas moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Good diversification

The correlation between Advantage Oil Gas and NYA is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advantage Oil Gas and NYA in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in real.

The ability to find closely correlated positions to Advantage 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 Advantage 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 Advantage 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 Advantage Oil Gas to buy it.

Moving together with Advantage Pink Sheet

0.78

Empire Petroleum Corp Downward Rally

Pair Corr

Moving against Advantage Pink Sheet

0.95	PR	Permian Resources Financial Report 13th of May 2024	Pair Corr
0.95	SM	SM Energy Financial Report 25th of April 2024	Pair Corr
0.94	VTLE	Vital Energy Financial Report 14th of May 2024	Pair Corr
0.94	FANG	Diamondback Energy Financial Report 6th of May 2024	Pair Corr
0.93	VIST	Vista Oil Gas Earnings Call This Week	Pair Corr
0.91	CHK	Chesapeake Energy Corp Financial Report 7th of May 2024	Pair Corr
0.9	AR	Antero Resources Corp Earnings Call This Week	Pair Corr
0.87	SD	SandRidge Energy	Pair Corr
0.87	BRY	Berry Petroleum Corp Financial Report 1st of May 2024	Pair Corr
0.74	EPSN	Epsilon Energy	Pair Corr
0.74	BTE	Baytex Energy Corp Financial Report 2nd of May 2024	Pair Corr
0.73	DMLP	Dorchester Minerals	Pair Corr
0.68	APA	APA Corporation Financial Report 1st of May 2024	Pair Corr
0.62	CEI	Camber Energy	Pair Corr
0.94	CNQ	Canadian Natural Res Financial Report 2nd of May 2024	Pair Corr
0.94	CPG	Crescent Point Energy Financial Report 10th of May 2024	Pair Corr

Related Correlations Analysis

	AERN	ATUUF	ALME	ARET	BBLS	GENGF	VLERF	CWEGF	BIREF	CNNEF
AERN		0.0	0.0	1.0	0.0	0.0	0.0	0.0	0.0	0.0	AERN
ATUUF	0.0		-0.32	0.0	0.35	0.34	0.35	0.35	0.44	-0.35	ATUUF
ALME	0.0	-0.32		0.0	-0.91	-0.18	-0.51	-0.07	-0.13	0.42	ALME
ARET	1.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	ARET
BBLS	0.0	0.35	-0.91	0.0		0.26	0.56	0.14	0.18	-0.45	BBLS
GENGF	0.0	0.34	-0.18	0.0	0.26		0.73	0.52	0.3	-0.55	GENGF
VLERF	0.0	0.35	-0.51	0.0	0.56	0.73		0.62	0.42	-0.84	VLERF
CWEGF	0.0	0.35	-0.07	0.0	0.14	0.52	0.62		0.79	-0.5	CWEGF
BIREF	0.0	0.44	-0.13	0.0	0.18	0.3	0.42	0.79		-0.32	BIREF
CNNEF	0.0	-0.35	0.42	0.0	-0.45	-0.55	-0.84	-0.5	-0.32		CNNEF
	AERN	ATUUF	ALME	ARET	BBLS	GENGF	VLERF	CWEGF	BIREF	CNNEF

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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

ARET	+ 1.0	AERN
BIREF	+ 0.79	CWEGF
VLERF	+ 0.73	GENGF
CWEGF	+ 0.62	VLERF
VLERF	+ 0.56	BBLS
CWEGF	+ 0.52	GENGF

High negative correlations

BBLS	- 0.91	ALME
CNNEF	- 0.84	VLERF
CNNEF	- 0.55	GENGF
VLERF	- 0.51	ALME
CNNEF	- 0.5	CWEGF
CNNEF	- 0.45	BBLS

Risk-Adjusted Indicators

There is a big difference between Advantage Pink Sheet performing well and Advantage 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 Advantage 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
AERN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ATUUF	1.23	0.12	0.00	(0.05)	1.81	(3.76)	3.77	(2.93)	23.47
ALME	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ARET	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BBLS	0.99	0.51	0.00	(1.49)	0.00	0.00	0.00	0.00	33.33
GENGF	1.53	0.11	0.03	0.23	1.55	(3.32)	4.26	(2.13)	13.93
VLERF	3.00	1.03	0.41	1.17	2.03	(3.95)	8.00	(3.86)	21.29
CWEGF	2.00	(0.09)	0.00	(0.05)	0.00	0.00	5.07	(3.56)	9.99
BIREF	2.06	(0.16)	0.00	(0.06)	0.00	0.00	4.68	(4.80)	14.56
CNNEF	2.38	(0.60)	0.00	(0.30)	0.00	0.00	4.43	(5.64)	27.54

View Advantage Oil Related Equities

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Risk & Return

Correlation

Advantage Oil Corporate Directors

Advantage Oil corporate directors refer to members of an Advantage Oil board of directors. The board of directors generally takes responsibility for the Advantage Oil's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Advantage Oil's board members must vote for the resolution. The Advantage Oil board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.

Paul Haggis	Independent Director	Profile
Jill Angevine	Independent Director	Profile
Grant Fagerheim	Independent Director	Profile
Stephen Balog	Independent Director	Profile

Still Interested in Advantage Oil Gas?

Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.

Other Consideration for investing in Advantage Pink Sheet

If you are still planning to invest in Advantage Oil Gas check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Advantage Oil's history and understand the potential risks before investing.

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