Pacific Gas Correlations
| PCG-PI Preferred Stock | USD 16.10 0.00 0.00% |
The correlation of Pacific Gas 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 Pacific Gas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pacific Gas and 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 Pacific Gas and and NYA is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacific Gas and and NYA in the same portfolio, assuming nothing else is changed.
Pacific |
The ability to find closely correlated positions to Pacific Gas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pacific Gas 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 Pacific Gas - 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 Pacific Gas and to buy it.
Moving together with Pacific Preferred Stock
Moving against Pacific Preferred Stock
Related Correlations Analysis
| 0.44 | 0.55 | 0.16 | 0.18 | PCG-PH | ||
| 0.44 | 0.45 | 0.28 | 0.27 | PCG-PG | ||
| 0.55 | 0.45 | 0.42 | 0.55 | PCG-PD | ||
| 0.16 | 0.28 | 0.42 | 0.28 | PCG-PE | ||
| 0.18 | 0.27 | 0.55 | 0.28 | PCG-PB | ||
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Risk-Adjusted Indicators
There is a big difference between Pacific Preferred Stock performing well and Pacific Gas 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 Pacific Gas' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PCG-PH | 0.75 | 0.05 | (0.03) | (0.10) | 0.96 | 1.78 | 6.99 | |||
| PCG-PG | 0.61 | 0.00 | 0.00 | 0.00 | 0.77 | 2.25 | 8.20 | |||
| PCG-PD | 0.75 | (0.06) | 0.00 | (0.08) | 0.00 | 1.99 | 6.38 | |||
| PCG-PE | 0.76 | (0.06) | 0.00 | (0.06) | 0.00 | 1.63 | 6.77 | |||
| PCG-PB | 1.19 | 0.00 | (0.03) | 0.08 | 1.50 | 2.65 | 7.29 |
Pacific Gas Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pacific Gas preferred stock to make a market-neutral strategy. Peer analysis of Pacific Gas could also be used in its relative valuation, which is a method of valuing Pacific Gas by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Already Invested in Pacific Gas and?
The danger of trading Pacific Gas and 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 Pacific Gas 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 Pacific Gas. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Pacific Gas 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. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Note that the Pacific Gas information on this page should be used as a complementary analysis to other Pacific Gas' 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Complementary Tools for Pacific Preferred Stock analysis
When running Pacific Gas' price analysis, check to measure Pacific Gas' 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 Pacific Gas is operating at the current time. Most of Pacific Gas' value examination focuses on studying past and present price action to predict the probability of Pacific Gas' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Pacific Gas' price. Additionally, you may evaluate how the addition of Pacific Gas to your portfolios can decrease your overall portfolio volatility.
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