Amplify Energy Correlations

AMPY Stock

USD 6.59 0.15 2.23%

The current 90-days correlation between Amplify Energy Corp and Obsidian Energy is 0.6 (i.e., Poor diversification). The correlation of Amplify Energy 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.

Amplify Energy Correlation With Market

Weak diversification

The correlation between Amplify Energy Corp and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Energy Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Amplify Energy Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Amplify Stock

0.85	SM	SM Energy	Pair Corr
0.65	VTLE	Vital Energy	Pair Corr
0.84	FANG	Diamondback Energy	Pair Corr
0.68	BTE	Baytex Energy Corp	Pair Corr
0.78	CNQ	Canadian Natural Res	Pair Corr
0.69	COP	ConocoPhillips	Pair Corr
0.61	DVN	Devon Energy	Pair Corr
0.65	EGY	Vaalco Energy	Pair Corr
0.67	GTE	Gran Tierra Energy	Pair Corr

Related Correlations Analysis

	ESTE	VTLE	CRK	MGY	OBE	SBOW	PR	REI	CIVI
ESTE		0.3	0.69	0.52	-0.16	-0.32	0.62	-0.35	-0.14	ESTE
VTLE	0.3		0.23	0.38	0.71	-0.36	0.58	0.63	0.83	VTLE
CRK	0.69	0.23		0.89	-0.21	-0.25	0.88	-0.37	-0.28	CRK
MGY	0.52	0.38	0.89		0.0	-0.21	0.92	-0.18	-0.07	MGY
OBE	-0.16	0.71	-0.21	0.0		-0.18	0.1	0.78	0.87	OBE
SBOW	-0.32	-0.36	-0.25	-0.21	-0.18		-0.35	-0.11	-0.23	SBOW
PR	0.62	0.58	0.88	0.92	0.1	-0.35		0.01	0.12	PR
REI	-0.35	0.63	-0.37	-0.18	0.78	-0.11	0.01		0.88	REI
CIVI	-0.14	0.83	-0.28	-0.07	0.87	-0.23	0.12	0.88		CIVI
	ESTE	VTLE	CRK	MGY	OBE	SBOW	PR	REI	CIVI

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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

PR	+ 0.92	MGY
MGY	+ 0.89	CRK
PR	+ 0.88	CRK
CIVI	+ 0.88	REI
CIVI	+ 0.87	OBE
CIVI	+ 0.83	VTLE

High negative correlations

REI	- 0.37	CRK
SBOW	- 0.36	VTLE
PR	- 0.35	SBOW
REI	- 0.35	ESTE
SBOW	- 0.32	ESTE
CIVI	- 0.28	CRK

Risk-Adjusted Indicators

There is a big difference between Amplify Stock performing well and Amplify Energy 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 Amplify Energy'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
ESTE	2.25	0.14	0.01	3.47	2.66	(2.41)	4.37	(4.80)	10.76
VTLE	2.62	(0.28)	0.00	(0.11)	0.00	0.00	5.41	(6.77)	17.63
CRK	2.42	0.31	0.13	0.31	2.51	(2.61)	6.81	(4.09)	13.81
MGY	1.59	0.03	0.03	0.14	2.00	(1.61)	2.89	(3.67)	8.54
OBE	2.14	(0.31)	0.00	(0.46)	0.00	0.00	3.76	(4.26)	13.07
SBOW	1.58	0.25	0.06	(1.60)	1.86	(1.98)	3.59	(2.41)	15.61
PR	1.66	0.03	0.01	0.15	2.02	(1.76)	2.90	(3.33)	7.95
REI	2.51	(0.42)	0.00	(0.21)	0.00	0.00	4.43	(5.33)	18.99
CIVI	1.65	(0.37)	0.00	(0.21)	0.00	0.00	2.92	(3.66)	8.85

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