PetroChina Correlations
| PCCYF Stock | USD 0.98 0.06 6.52% |
The correlation of PetroChina 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 PetroChina moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PetroChina Co Ltd 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 PetroChina Co Ltd 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 PetroChina Co Ltd and NYA in the same portfolio, assuming nothing else is changed.
PetroChina |
The ability to find closely correlated positions to PetroChina could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PetroChina 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 PetroChina - 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 PetroChina Co Ltd to buy it.
Moving together with PetroChina Pink Sheet
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| 0.95 | SHEL | Shell PLC ADR | PairCorr |
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| 0.94 | TTE | TotalEnergies SE ADR | PairCorr |
| 0.94 | TTFNF | TotalEnergies SE | PairCorr |
| 0.76 | JPSTF | JAPAN POST BANK | PairCorr |
| 0.72 | JPHLF | Japan Post Holdings | PairCorr |
| 0.7 | MZHOF | Mizuho Financial | PairCorr |
Moving against PetroChina Pink Sheet
| 0.82 | AMC | AMC Entertainment Trending | PairCorr |
| 0.8 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.75 | BKRKY | Bank Rakyat | PairCorr |
| 0.68 | PTBRY | Bank Negara Indonesia | PairCorr |
| 0.49 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.44 | PBCRY | Bank Central Asia | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between PetroChina Pink Sheet performing well and PetroChina 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 PetroChina'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EQNR | 1.02 | 0.11 | 0.06 | 0.27 | 1.12 | 2.04 | 4.86 | |||
| TTE | 0.71 | 0.17 | 0.14 | 0.38 | 0.73 | 1.72 | 5.51 | |||
| EC | 1.25 | 0.01 | 0.00 | 0.08 | 1.84 | 2.48 | 8.58 | |||
| NFG | 1.00 | 0.16 | 0.13 | 0.22 | 0.91 | 2.69 | 4.88 | |||
| TGS | 2.60 | 0.45 | 0.19 | 0.28 | 2.29 | 6.52 | 21.78 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in PetroChina 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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PetroChina Corporate Management
Elected by the shareholders, the PetroChina's board of directors comprises two types of representatives: PetroChina inside directors who are chosen from within the company, and outside directors, selected externally and held independent of PetroChina. The board's role is to monitor PetroChina's management team and ensure that shareholders' interests are well served. PetroChina's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, PetroChina's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Hua Wang | CFO Sec | Profile | |
| Minglu Zhang | Health, Quality | Profile | |
| Chong Xing | Deputy Relations | Profile | |
| Guowen Zhu | VP | Profile | |
| Lixin Ren | Sr Director | Profile |
Already Invested in PetroChina Co Ltd?
The danger of trading PetroChina Co Ltd 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 PetroChina 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 PetroChina. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile PetroChina 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in PetroChina Co Ltd. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in manufacturing. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Complementary Tools for PetroChina Pink Sheet analysis
When running PetroChina's price analysis, check to measure PetroChina'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 PetroChina is operating at the current time. Most of PetroChina's value examination focuses on studying past and present price action to predict the probability of PetroChina's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PetroChina's price. Additionally, you may evaluate how the addition of PetroChina to your portfolios can decrease your overall portfolio volatility.
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