Foothills Exploration Correlations
| FTXP Stock | USD 0.0001 0.00 0.00% |
The correlation of Foothills Exploration 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 Foothills Exploration moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Foothills Exploration 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 Foothills Exploration and NYA is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foothills Exploration and NYA in the same portfolio, assuming nothing else is changed.
Foothills |
The ability to find closely correlated positions to Foothills Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Foothills Exploration 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 Foothills Exploration - 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 Foothills Exploration to buy it.
Moving against Foothills Pink Sheet
| 0.49 | CNQ | Canadian Natural Res Financial Report 2nd of May 2024 | PairCorr |
| 0.46 | DAIUF | Daifuku Co | PairCorr |
| 0.45 | EOG | EOG Resources Financial Report 2nd of May 2024 | PairCorr |
| 0.44 | PXD | Pioneer Natural Resources | PairCorr |
| 0.43 | OXY | Occidental Petroleum Financial Report 14th of May 2024 | PairCorr |
| 0.42 | XOM | Exxon Mobil Corp Earnings Call This Week | PairCorr |
| 0.41 | COP | ConocoPhillips Financial Report 2nd of May 2024 | PairCorr |
| 0.45 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.41 | BAC | Bank of America Aggressive Push | PairCorr |
Related Correlations Analysis
| 0.96 | 0.99 | 0.99 | 0.95 | 0.94 | 0.98 | PXD | ||
| 0.96 | 0.96 | 0.93 | 0.96 | 0.98 | 0.91 | PR | ||
| 0.99 | 0.96 | 0.99 | 0.95 | 0.94 | 0.97 | DVN | ||
| 0.99 | 0.93 | 0.99 | 0.93 | 0.9 | 0.98 | EOG | ||
| 0.95 | 0.96 | 0.95 | 0.93 | 0.93 | 0.91 | CTRA | ||
| 0.94 | 0.98 | 0.94 | 0.9 | 0.93 | 0.87 | FANG | ||
| 0.98 | 0.91 | 0.97 | 0.98 | 0.91 | 0.87 | COP | ||
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Risk-Adjusted Indicators
There is a big difference between Foothills Pink Sheet performing well and Foothills Exploration 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 Foothills Exploration'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 | 0.82 | 0.33 | 0.33 | 0.73 | 0.37 | 2.01 | 4.34 | |||
| PR | 1.12 | 0.32 | 0.24 | 0.37 | 0.93 | 3.12 | 7.15 | |||
| DVN | 0.91 | 0.31 | 0.29 | 0.53 | 0.62 | 2.08 | 5.07 | |||
| EOG | 0.96 | 0.25 | 0.16 | 0.45 | 1.01 | 2.04 | 6.82 | |||
| CTRA | 0.93 | 0.16 | 0.12 | 0.37 | 0.78 | 2.10 | 7.89 | |||
| FANG | 1.00 | 0.42 | 0.39 | 0.58 | 0.49 | 2.04 | 11.14 | |||
| COP | 0.89 | 0.25 | 0.22 | 0.59 | 0.63 | 2.20 | 5.32 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Foothills Exploration 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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Already Invested in Foothills Exploration?
The danger of trading Foothills Exploration 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 Foothills Exploration 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 Foothills Exploration. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Foothills Exploration 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Foothills Exploration. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in interest. You can also try the AI Investment Finder module to use AI to screen and filter profitable investment opportunities.
Complementary Tools for Foothills Pink Sheet analysis
When running Foothills Exploration's price analysis, check to measure Foothills Exploration'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 Foothills Exploration is operating at the current time. Most of Foothills Exploration's value examination focuses on studying past and present price action to predict the probability of Foothills Exploration's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Foothills Exploration's price. Additionally, you may evaluate how the addition of Foothills Exploration to your portfolios can decrease your overall portfolio volatility.
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