Par Pacific Correlations

PARR Stock

USD 14.40 0.06 0.42%

The current 90-days correlation between Par Pacific Holdings and CVR Energy is 0.59 (i.e., Very weak diversification). 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Par Pacific Correlation With Market

Very weak diversification

The correlation between Par Pacific Holdings and DJI is 0.46 (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 DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Par Stock

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 closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Par Stock

0.81	DINO	HF Sinclair Corp	Pair Corr
0.81	DK	Delek Energy Earnings Call Tomorrow	Pair Corr
0.66	MPC	Marathon Petroleum Corp Earnings Call This Week	Pair Corr
0.83	PBF	PBF Energy	Pair Corr
0.68	VLO	Valero Energy	Pair Corr
0.66	VVV	Valvoline Earnings Call This Week	Pair Corr
0.85	CLNE	Clean Energy Fuels Earnings Call This Week	Pair Corr
0.76	NE	Noble plc Earnings Call Tomorrow	Pair Corr
0.64	SM	SM Energy	Pair Corr
0.69	SU	Suncor Energy Earnings Call Tomorrow	Pair Corr
0.7	TK	Teekay	Pair Corr
0.66	DMLP	Dorchester Minerals	Pair Corr

Moving against Par Stock

0.38	SGU	Star Gas Partners	Pair Corr
0.36	EPSN	Epsilon Energy	Pair Corr

Related Correlations Analysis

	DKL	CVI	PBF	DINO	SGU	UGP	DK	CAPL	CSAN	VVV
DKL		0.58	0.63	0.69	0.32	0.08	0.75	0.38	0.42	0.45	DKL
CVI	0.58		0.39	0.59	0.25	0.37	0.55	0.45	0.59	0.32	CVI
PBF	0.63	0.39		0.88	-0.22	-0.31	0.93	-0.09	0.32	0.75	PBF
DINO	0.69	0.59	0.88		-0.01	-0.17	0.94	0.09	0.42	0.81	DINO
SGU	0.32	0.25	-0.22	-0.01		0.19	-0.01	0.28	-0.03	-0.02	SGU
UGP	0.08	0.37	-0.31	-0.17	0.19		-0.16	0.67	0.71	-0.32	UGP
DK	0.75	0.55	0.93	0.94	-0.01	-0.16		0.02	0.41	0.8	DK
CAPL	0.38	0.45	-0.09	0.09	0.28	0.67	0.02		0.56	-0.2	CAPL
CSAN	0.42	0.59	0.32	0.42	-0.03	0.71	0.41	0.56		0.26	CSAN
VVV	0.45	0.32	0.75	0.81	-0.02	-0.32	0.8	-0.2	0.26		VVV
	DKL	CVI	PBF	DINO	SGU	UGP	DK	CAPL	CSAN	VVV

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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

DK	+ 0.94	DINO
DK	+ 0.93	PBF
DINO	+ 0.88	PBF
VVV	+ 0.81	DINO
VVV	+ 0.8	DK
DK	+ 0.75	DKL

High negative correlations

VVV	- 0.32	UGP
UGP	- 0.31	PBF
SGU	- 0.22	PBF
VVV	- 0.2	CAPL
UGP	- 0.17	DINO
DK	- 0.16	UGP

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
DKL	1.48	0.00	0.00	(0.12)	0.00	0.00	2.58	(2.57)	10.61
CVI	2.64	0.22	0.06	0.08	3.36	(2.74)	5.18	(4.49)	17.67
PBF	3.25	(0.53)	0.00	(0.43)	0.00	0.00	5.44	(9.01)	24.08
DINO	2.30	0.03	0.00	(0.09)	0.00	0.00	4.25	(5.95)	19.66
SGU	1.00	0.07	0.14	1.76	1.10	(1.19)	1.96	(1.95)	8.68
UGP	1.93	0.21	0.14	1.03	2.01	(2.49)	4.38	(2.86)	13.92
DK	3.28	(0.15)	0.00	(0.21)	0.00	0.00	5.92	(7.81)	24.53
CAPL	1.13	0.17	0.10	0.66	2.14	(1.07)	2.21	(2.50)	11.77
CSAN	2.76	0.17	0.06	0.27	3.51	(2.98)	5.10	(5.69)	16.52
VVV	1.61	(0.11)	0.00	2.07	0.00	0.00	3.85	(3.86)	12.13

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