Public Service Correlations

PNMXO Stock

USD 75.99 0.00 0.00%

The current 90-days correlation between Public Service and Oaktree Capital Group is -0.57 (i.e., Excellent diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Public Service moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Public Service moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Public Service Correlation With Market

Good diversification

The correlation between Public Service and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Public Service and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Public Service could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Public Service 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 Public Service - 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 Public Service to buy it.

Moving together with Public Pink Sheet

0.66

LNTH

Lantheus Holdings

Pair Corr

Moving against Public Pink Sheet

0.66	OAK-PB	Oaktree Capital Group	Pair Corr
0.65	NDEKY	Nitto Denko Corp	Pair Corr
0.61	NMPWP	Niagara Mohawk Power	Pair Corr
0.55	INPAP	International Paper	Pair Corr
0.53	NFPDF	Nissin Foods Holdings	Pair Corr
0.36	DAIUF	Daifuku	Pair Corr

Related Correlations Analysis

	OAK-PB	444859BR2	AQUI	ABHYX	LBHIX	MSTSX	VIASP	GBEMX	DREQX	KNF
OAK-PB		0.01	0.0	-0.3	-0.28	-0.04	-0.43	-0.25	-0.34	0.68	OAK-PB
444859BR2	0.01		0.0	0.82	0.82	0.59	0.67	0.55	0.77	-0.48	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
ABHYX	-0.3	0.82	0.0		0.89	0.68	0.84	0.7	0.91	-0.65	ABHYX
LBHIX	-0.28	0.82	0.0	0.89		0.8	0.87	0.8	0.89	-0.66	LBHIX
MSTSX	-0.04	0.59	0.0	0.68	0.8		0.73	0.86	0.67	-0.43	MSTSX
VIASP	-0.43	0.67	0.0	0.84	0.87	0.73		0.76	0.92	-0.82	VIASP
GBEMX	-0.25	0.55	0.0	0.7	0.8	0.86	0.76		0.76	-0.5	GBEMX
DREQX	-0.34	0.77	0.0	0.91	0.89	0.67	0.92	0.76		-0.72	DREQX
KNF	0.68	-0.48	0.0	-0.65	-0.66	-0.43	-0.82	-0.5	-0.72		KNF
	OAK-PB	444859BR2	AQUI	ABHYX	LBHIX	MSTSX	VIASP	GBEMX	DREQX	KNF

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Correlation Matchups

Over a given time period, the two securities move together 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

DREQX	+ 0.92	VIASP
DREQX	+ 0.91	ABHYX
LBHIX	+ 0.89	ABHYX
DREQX	+ 0.89	LBHIX
VIASP	+ 0.87	LBHIX
GBEMX	+ 0.86	MSTSX

High negative correlations

KNF	- 0.82	VIASP
KNF	- 0.72	DREQX
KNF	- 0.66	LBHIX
KNF	- 0.65	ABHYX
KNF	- 0.5	GBEMX
KNF	- 0.48	444859BR2

Risk-Adjusted Indicators

There is a big difference between Public Pink Sheet performing well and Public Service 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 Public Service'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
OAK-PB	0.58	(0.14)	0.00	(0.91)	0.00	0.00	1.11	(1.03)	7.03
444859BR2	0.47	0.03	0.08	2.03	0.50	(0.52)	1.12	(0.79)	2.67
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ABHYX	0.17	0.02	0.10	0.17	0.12	(0.22)	0.34	(0.35)	1.03
LBHIX	0.17	0.01	0.07	0.10	0.12	(0.31)	0.49	(0.25)	0.98
MSTSX	0.47	0.02	0.03	0.01	0.73	(0.44)	0.90	(1.29)	2.89
VIASP	1.29	0.26	0.12	0.21	1.89	(1.31)	3.96	(2.61)	13.41
GBEMX	0.54	0.08	0.09	0.17	0.74	(0.52)	1.08	(1.38)	3.47
DREQX	0.73	0.10	0.11	0.13	0.81	(0.83)	1.66	(1.67)	4.22
KNF	1.53	(0.17)	0.00	(0.21)	0.00	0.00	2.92	(3.13)	8.13

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Our tools can tell you how much better you can do entering a position in Public Service 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.

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