BP PLC Correlations

BP
 Stock
  

GBp 455.55  0.30  0.07%   

The correlation of BP PLC is a statistical measure of how it moves in relation to other equities. 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 BP PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BP PLC 0 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.
Continue to Trending Equities.
  
The ability to find closely correlated positions to BP PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BP PLC 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 BP PLC - 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 BP PLC 0 to buy it.

Moving against BP PLC

-0.89TCSATCS GROUP HOLDINGPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
HE1COBR
EEEHE1
EEECOBR
CUSN0A5I
CUSNEEE
BRESCOBR
  
High negative correlations   
0A5ICOBR
BRES0A5I
HE10A5I
CUSNCOBR
EEE0A5I
BRESHE1

BP PLC Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between BP PLC Stock performing well and BP PLC company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze BP PLC's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

BP PLC 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 BP PLC stock to make a market-neutral strategy. Peer analysis of BP PLC could also be used in its relative valuation, which is a method of valuing BP PLC by comparing valuation metrics with similar companies.
COBRA RESOURCES PLCJDE PEETS NVHELIUM ONE GLOBALEMPIRE METALS LIMITEDBLENCOWE RESOURCES PLCCORNISH METALS INCAmn Healthcare ServicesTwist Bioscience CorpFreedom Holding CorpGx Nasdaq-100 CoveredFranklin Mutual EuropeanNatural Hlth TrdUSA Value FactorBetapro Canadian GoldAramark Holdings Corp
 Risk & Return  Correlation

BP PLC Corporate Directors

BP PLC corporate directors refer to members of a BP PLC board of directors. The board of directors generally takes responsibility for the BP PLC'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 BP PLC's board members must vote for the resolution. The BP PLC board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Bernard Looney - Group Executive Officer, Executive DirectorProfile
Alan Boeckmann - Non-Executive Independent DirectorProfile
Pamela Daley - Non-Executive Independent DirectorProfile
Alison Carnwath - Non-Executive Independent DirectorProfile

Invested in BP PLC 0?

The danger of trading BP PLC 0 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 BP PLC 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 BP PLC. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile BP PLC 0 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.
Continue to Trending Equities. You can also try Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.

Other Tools for BP PLC Stock

When running BP PLC 0 price analysis, check to measure BP PLC'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 BP PLC is operating at the current time. Most of BP PLC's value examination focuses on studying past and present price action to predict the probability of BP PLC's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move BP PLC's price. Additionally, you may evaluate how the addition of BP PLC to your portfolios can decrease your overall portfolio volatility.
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Go
Idea Breakdown
Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes
Go
Probability Of Bankruptcy
Get analysis of equity chance of financial distress in the next 2 years
Go
CEO Directory
Screen CEOs from public companies around the world
Go
Pair Correlation
Compare performance and examine fundamental relationship between any two equity instruments
Go
Equity Valuation
Check real value of public entities based on technical and fundamental data
Go
CEO Directory
Screen CEOs from public companies around the world
Go
Transaction History
View history of all your transactions and understand their impact on performance
Go
Portfolio Rebalancing
Analyze risk-adjusted returns against different time horizons to find asset-allocation targets
Go
Price Exposure Probability
Analyze equity upside and downside potential for a given time horizon across multiple markets
Go
Portfolio Rebalancing
Analyze risk-adjusted returns against different time horizons to find asset-allocation targets
Go
Pair Correlation
Compare performance and examine fundamental relationship between any two equity instruments
Go