Capricorn Energy Correlations
| CRNCY Stock | USD 4.30 0.15 3.37% |
The correlation of Capricorn Energy 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 Capricorn Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Capricorn Energy PLC 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.
Average diversification
The correlation between Capricorn Energy PLC and NYA is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capricorn Energy PLC and NYA in the same portfolio, assuming nothing else is changed.
Capricorn |
The ability to find closely correlated positions to Capricorn Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Capricorn Energy 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 Capricorn Energy - 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 Capricorn Energy PLC to buy it.
Moving together with Capricorn Pink Sheet
| 0.91 | COP | ConocoPhillips Earnings Call Tomorrow | PairCorr |
| 0.78 | CNQ | Canadian Natural Res Earnings Call Tomorrow | PairCorr |
| 0.87 | EOG | EOG Resources Financial Report 2nd of May 2024 | PairCorr |
| 0.85 | PXD | Pioneer Natural Resources | PairCorr |
| 0.83 | OXY | Occidental Petroleum Earnings Call This Week | PairCorr |
| 0.79 | HES | Hess | PairCorr |
| 0.63 | EC | Ecopetrol SA ADR Earnings Call This Week | PairCorr |
| 0.71 | FNMFO | Federal National Mortgage | PairCorr |
| 0.86 | MMM | 3M Company Buyout Trend | PairCorr |
Moving against Capricorn Pink Sheet
| 0.85 | TLK | Telkom Indonesia Tbk Earnings Call This Week | PairCorr |
| 0.65 | VFS | VinFast Auto Financial Report 20th of May 2024 | PairCorr |
| 0.46 | AVAL | Grupo Aval Financial Report 15th of May 2024 | PairCorr |
| 0.45 | KEP | Korea Electric Power | PairCorr |
| 0.85 | MCD | McDonalds Sell-off Trend | PairCorr |
Related Correlations Analysis
| 0.94 | 0.99 | 0.99 | 0.95 | 0.93 | 0.98 | PXD | ||
| 0.94 | 0.95 | 0.91 | 0.95 | 0.98 | 0.9 | PR | ||
| 0.99 | 0.95 | 0.99 | 0.95 | 0.95 | 0.97 | DVN | ||
| 0.99 | 0.91 | 0.99 | 0.93 | 0.91 | 0.98 | EOG | ||
| 0.95 | 0.95 | 0.95 | 0.93 | 0.93 | 0.91 | CTRA | ||
| 0.93 | 0.98 | 0.95 | 0.91 | 0.93 | 0.87 | FANG | ||
| 0.98 | 0.9 | 0.97 | 0.98 | 0.91 | 0.87 | COP | ||
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Risk-Adjusted Indicators
There is a big difference between Capricorn Pink Sheet performing well and Capricorn Energy 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 Capricorn Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PXD | 0.83 | 0.22 | 0.20 | 0.46 | 0.67 | 1.99 | 5.03 | |||
| PR | 1.13 | 0.27 | 0.16 | 0.27 | 1.33 | 2.97 | 7.15 | |||
| DVN | 0.97 | 0.24 | 0.20 | 0.34 | 0.99 | 2.02 | 4.60 | |||
| EOG | 0.97 | 0.17 | 0.11 | 0.27 | 1.25 | 1.93 | 6.82 | |||
| CTRA | 0.95 | 0.09 | 0.06 | 0.18 | 1.05 | 2.10 | 7.89 | |||
| FANG | 1.01 | 0.37 | 0.31 | 0.47 | 0.72 | 1.65 | 11.14 | |||
| COP | 0.89 | 0.14 | 0.10 | 0.28 | 0.97 | 2.20 | 5.32 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Capricorn Energy 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.Did you try this?
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Capricorn Energy Corporate Directors
Capricorn Energy corporate directors refer to members of a Capricorn Energy board of directors. The board of directors generally takes responsibility for the Capricorn Energy'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 Capricorn Energy's board members must vote for the resolution. The Capricorn Energy board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Alexander Berger | Independent Non-Executive Director | Profile | |
| Alison Wood | Independent Non-Executive Director | Profile | |
| Iain McLaren | Independent Non-Executive Director | Profile | |
| Todd Hunt | Independent Non-Executive Director | Profile |
Already Invested in Capricorn Energy PLC?
The danger of trading Capricorn Energy PLC is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Capricorn Energy is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Capricorn Energy. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Capricorn Energy PLC is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Capricorn Energy PLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. Note that the Capricorn Energy PLC information on this page should be used as a complementary analysis to other Capricorn Energy'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 the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
Complementary Tools for Capricorn Pink Sheet analysis
When running Capricorn Energy's price analysis, check to measure Capricorn Energy'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 Capricorn Energy is operating at the current time. Most of Capricorn Energy's value examination focuses on studying past and present price action to predict the probability of Capricorn Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Capricorn Energy's price. Additionally, you may evaluate how the addition of Capricorn Energy to your portfolios can decrease your overall portfolio volatility.
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