Par Pacific Correlations
| PARR Stock | USD 30.80 1.63 5.03% |
The correlation of Par Pacific 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 Par Pacific moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Par Pacific Holdings 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.
Very weak diversification
The correlation between Par Pacific Holdings and NYA is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Par Pacific Holdings and NYA in the same portfolio, assuming nothing else is changed.
Par |
The ability to find closely correlated positions to Par Pacific could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Par Pacific 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 Par Pacific - 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 Par Pacific Holdings to buy it.
Moving together with Par Stock
| 0.66 | SUN | Sunoco LP Earnings Call This Week | PairCorr |
| 0.78 | UGP | Ultrapar Participacoes Earnings Call Next Week | PairCorr |
Moving against Par Stock
| 0.62 | AE | Adams Resources Energy Earnings Call This Week | PairCorr |
| 0.62 | AR | Antero Resources Corp | PairCorr |
| 0.52 | E | Eni SpA ADR | PairCorr |
| 0.49 | BP | BP PLC ADR Earnings Call This Week | PairCorr |
| 0.45 | REPYY | Repsol SA | PairCorr |
| 0.45 | AM | Antero Midstream Partners | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Par Stock performing well and Par Pacific 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 Par Pacific'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DK | 1.73 | 0.04 | 0.01 | 0.09 | 2.80 | 3.26 | 12.36 | |||
| CVI | 1.73 | (0.12) | 0.00 | (0.05) | 0.00 | 4.30 | 10.44 | |||
| VLO | 1.29 | 0.19 | 0.11 | 0.25 | 1.52 | 2.65 | 8.10 | |||
| MPC | 1.33 | 0.16 | 0.06 | 0.21 | 2.11 | 2.88 | 9.77 | |||
| DKL | 1.18 | (0.20) | 0.00 | (0.19) | 0.00 | 1.71 | 15.60 | |||
| PBF | 1.84 | 0.11 | 0.05 | 0.14 | 2.29 | 4.85 | 12.07 | |||
| PARR | 1.89 | (0.29) | 0.00 | (0.12) | 0.00 | 3.84 | 12.80 | |||
| PSX | 1.16 | 0.01 | 0.00 | 0.06 | 1.74 | 2.73 | 7.47 | |||
| SUN | 1.20 | (0.06) | 0.00 | (0.04) | 0.00 | 2.77 | 6.67 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Par Pacific 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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Par Pacific Corporate Directors
Par Pacific corporate directors refer to members of a Par Pacific board of directors. The board of directors generally takes responsibility for the Par Pacific'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 Par Pacific's board members must vote for the resolution. The Par Pacific board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Curtis Anastasio | Independent Director | Profile | |
| Anthony Chase | Independent Director | Profile | |
| Christine Thorp | Director of Investor Relations | Profile | |
| Katherine Hatcher | Independent Director | Profile |
Already Invested in Par Pacific Holdings?
The danger of trading Par Pacific Holdings 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 Par Pacific 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 Par Pacific. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Par Pacific Holdings 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.
When determining whether Par Pacific Holdings is a strong investment it is important to analyze Par Pacific's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Par Pacific's future performance. For an informed investment choice regarding Par Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Par Pacific Holdings. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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When running Par Pacific's price analysis, check to measure Par Pacific'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 Par Pacific is operating at the current time. Most of Par Pacific's value examination focuses on studying past and present price action to predict the probability of Par Pacific's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Par Pacific's price. Additionally, you may evaluate how the addition of Par Pacific to your portfolios can decrease your overall portfolio volatility.
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Is Par Pacific's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Par Pacific. If investors know Par will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Par Pacific listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 2.408 | Earnings Share 11.94 | Revenue Per Share 137.119 | Quarterly Revenue Growth 0.207 | Return On Assets 0.12 |
The market value of Par Pacific Holdings is measured differently than its book value, which is the value of Par that is recorded on the company's balance sheet. Investors also form their own opinion of Par Pacific's value that differs from its market value or its book value, called intrinsic value, which is Par Pacific's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Par Pacific's market value can be influenced by many factors that don't directly affect Par Pacific's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Par Pacific's value and its price as these two are different measures arrived at by different means. Investors typically determine if Par Pacific is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Par Pacific's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.