Heat Oil Correlations

Indexes . USA . 
Index . Heat Oil
BCOMHO Index   428.68  1.95  0.46%   
The correlation of Heat Oil is a statistical measure of how it moves in relation to other equities. 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 Heat Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Heat Oil 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.
Check out Trending Equities.
The ability to find closely correlated positions to Heat 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 Heat 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 Heat 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 Heat Oil to buy it.

Moving against Heat Oil

-0.56AMDAdvanced Micro Devices Aggressive PushPairCorr
-0.55MSFTMicrosoft Aggressive PushPairCorr
-0.54AAPLApple Inc Aggressive PushPairCorr
-0.54TSLATesla Inc Aggressive PushPairCorr
-0.53MCGMembership Collective Symbol ChangePairCorr
-0.52CDTXCidara Therapeutics Financial Report 10th of May 2023 PairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
ARW
+ 0.72
GRMN
SE
+ 0.64
ARW
ELTK
+ 0.63
GRMN
SE
+ 0.57
GRMN
ARW
+ 0.42
TAP
ELTK
+ 0.42
ARW
  
High negative correlations   
BUD
- 0.42
ARW
ELTK
- 0.21
ATVI
ELTK
- 0.19
TAP
ELTK
- 0.17
BUD
SE
- 0.17
BUD
ATVI
- 0.05
ARW

Risk-Adjusted Indicators

Nowadays, there is a big difference between BCOMHO Index performing well and Heat Oil index doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Heat Oil's multiple risk-adjusted performance indicators. 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		Information
Ratio		Expected
Shortfall		Potential
Upside		Value
At Risk		Maximum
Drawdown
TAP 1.31  0.03  0.00 (0.05)  0.00  0.0289  0.00  2.82 (2.79)  7.33 
GRMN 1.24  0.12  0.07  0.02  1.43  0.07 (1.35)  2.87 (2.58)  6.66 
ARW 1.33  0.22  0.13  0.09  1.34  0.10 (1.48)  2.39 (2.44)  12.66 
ATVI 0.87  0.10  0.10  0.09  1.32  0.1 (0.93)  2.16 (2.43)  9.20 
BUD 0.97  0.06  0.00 (0.01)  0.00  0.06  0.00  2.34 (2.25)  5.77 
SE 3.11  0.50  0.12  0.25  3.53  0.10 (3.48)  6.98 (5.75)  27.15 
ELTK 1.42  0.09  0.09 (1.48)  1.79  0.09 (1.52)  3.15 (2.24)  10.22 

Did you try this?

Run Bollinger Bands Now

   

Bollinger Bands

Use Bollinger Bands indicator to analyze target price for a given investing horizon
All  Next Launch Module

Heat Oil Distribution of Returns

   Predicted Return Density   
       Returns  
Heat Oil's volatility is measured either by using standard deviation or beta. Standard deviation will reflect the average amount of how bcomho index's price will differ from the mean after some time.To get its calculation, you should first determine the mean price during the specified period then subtract that from each price point.

What Drives a Heat Oil Price Volatility?

Several factors can influence a index's market volatility:

Industry

Specific events can influence volatility within a particular industry. For instance, a significant weather upheaval in a crucial oil-production site may cause oil prices to increase in the oil sector. The direct result will be the rise in the stock price of oil distribution companies. Similarly, any government regulation in a specific industry could negatively influence stock prices due to increased regulations on compliance that may impact the company's future earnings and growth.

Political and Economic environment

When governments make significant decisions regarding trade agreements, policies, and legislation regarding specific industries, they will influence stock prices. Everything from speeches to elections may influence investors, who can directly influence the stock prices in any particular industry. The prevailing economic situation also plays a significant role in stock prices. When the economy is doing well, investors will have a positive reaction and hence, better stock prices and vice versa.

The Company's Performance

Sometimes volatility will only affect an individual company. For example, a revolutionary product launch or strong earnings report may attract many investors to purchase the company. This positive attention will raise the company's stock price. In contrast, product recalls and data breaches may negatively influence a company's stock prices.

Heat Oil Against Global Markets

JA00  1.30   
0%
49.0%
NYA  1.22   
0%
46.0%
GDAXI  1.12   
0%
42.0%
CROBEX  0.86   
0%
32.0%
PSI 20  0.79   
0%
29.0%
Heat Oil  0.46   
0%
17.0%
Tel Aviv  0.32   
0%
12.0%
TWII  0.21   
7.0%
0%
IDX 30  1.02   
38.0%
0%
MXX  1.10   
41.0%
0%
ISEQ 20  1.96   
73.0%
0%
HSI  2.65   
100.0%
0%
 

Submit Heat Oil Story

Become Macroaxis Heat Oil Contributor

Submit your story or your unique perspective on Heat Oil and reach a very diverse and influential demographic landscape united by one goal - building optimal portfolios
Submit Macroaxis Story
Submit Heat Oil Story  
Check out Trending Equities. Note that the Heat Oil information on this page should be used as a complementary analysis to other Heat Oil's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.

Complementary Tools for BCOMHO Index analysis

When running Heat Oil price analysis, check to measure Heat Oil's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Heat Oil is operating at the current time. Most of Heat Oil's value examination focuses on studying past and present price action to predict the probability of Heat Oil's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Heat Oil's price. Additionally, you may evaluate how the addition of Heat Oil to your portfolios can decrease your overall portfolio volatility.
Portfolio Suggestion
Get suggestions outside of your existing asset allocation including your own model portfolios
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Equity Valuation
Check real value of public entities based on technical and fundamental data
CEO Directory
Screen CEOs from public companies around the world
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Idea Breakdown
Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Premium Stories
Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope
Portfolio Manager
State of the art Portfolio Manager to monitor and improve performance of your invested capital
Portfolio Holdings
Check your current holdings and cash postion to detemine if your portfolio needs rebalancing
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2023 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY