Archrock Correlations

AROCDelisted Stock

USD 29.59 0.19 0.64%

The current 90-days correlation between Archrock and Transportadora de Gas is -0.05 (i.e., Good diversification). The correlation of Archrock 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.

Archrock Correlation With Market

Very weak diversification

The correlation between Archrock and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Archrock and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. 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 Archrock Stock

0.73	EC	Ecopetrol SA ADR Earnings Call This Week	Pair Corr
0.75	VKQ	Invesco Municipal Trust	Pair Corr
0.62	INGR	Ingredion Incorporated	Pair Corr
0.65	XYIGY	Xinyi Glass Holdings Earnings Call This Week	Pair Corr
0.61	KRKNF	Kraken Robotics Tech Boost	Pair Corr
0.72	DAWN	Day One Biopharmaceu Earnings Call Today	Pair Corr
0.68	WLK	Westlake Chemical Earnings Call Today	Pair Corr
0.75	SOJE	Southern Company	Pair Corr
0.73	TVFCF	Télévision Française	Pair Corr
0.68	WEJTY	Webjet Limited	Pair Corr
0.68	CING	Cingulate	Pair Corr
0.76	TWMIF	Tidewater Midstream and	Pair Corr
0.7	LTSK	Ladenburg Thalmann	Pair Corr
0.62	STRS	Stratus Properties	Pair Corr
0.72	GBOOY	Grupo Financiero Banorte	Pair Corr
0.8	CMA	Comerica Incorporated	Pair Corr
0.66	CLEGF	Coles Group Earnings Call This Week	Pair Corr
0.79	TDY	Teledyne Technologies	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.81	BYM	BlackRock Municipal	Pair Corr
0.78	RHHVF	Roche Holding AG	Pair Corr

Moving against Archrock Stock

0.6	PBCRF	PT Bank Central	Pair Corr
0.5	PTAIF	PT Astra International	Pair Corr
0.39	EYPT	Eyepoint Pharmaceuticals Trending	Pair Corr
0.38	SPR	Spirit Aerosystems	Pair Corr

Related Correlations Analysis

	TGS	VAL	LB	NE	UGP	NOV	WFRD	VVV	MGY	MUR
TGS		-0.25	-0.08	-0.22	-0.14	-0.16	-0.25	-0.31	-0.09	-0.11	TGS
VAL	-0.25		0.67	0.93	0.81	0.69	0.75	0.9	0.84	0.52	VAL
LB	-0.08	0.67		0.66	0.58	0.41	0.33	0.61	0.63	0.37	LB
NE	-0.22	0.93	0.66		0.95	0.86	0.88	0.96	0.95	0.45	NE
UGP	-0.14	0.81	0.58	0.95		0.88	0.89	0.93	0.96	0.25	UGP
NOV	-0.16	0.69	0.41	0.86	0.88		0.93	0.82	0.8	0.41	NOV
WFRD	-0.25	0.75	0.33	0.88	0.89	0.93		0.89	0.83	0.36	WFRD
VVV	-0.31	0.9	0.61	0.96	0.93	0.82	0.89		0.93	0.39	VVV
MGY	-0.09	0.84	0.63	0.95	0.96	0.8	0.83	0.93		0.33	MGY
MUR	-0.11	0.52	0.37	0.45	0.25	0.41	0.36	0.39	0.33		MUR
	TGS	VAL	LB	NE	UGP	NOV	WFRD	VVV	MGY	MUR

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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

VVV	+ 0.96	NE
MGY	+ 0.96	UGP
UGP	+ 0.95	NE
MGY	+ 0.95	NE
NE	+ 0.93	VAL
VVV	+ 0.93	UGP

High negative correlations

VVV	- 0.31	TGS
WFRD	- 0.25	TGS
VAL	- 0.25	TGS
NE	- 0.22	TGS
NOV	- 0.16	TGS
UGP	- 0.14	TGS

Risk-Adjusted Indicators

There is a big difference between Archrock Stock performing well and Archrock 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 Archrock'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
TGS	1.74	(0.04)	(0.03)	0.00	2.01	(2.06)	4.52	(3.18)	11.79
VAL	2.81	0.80	0.26	0.61	2.44	(3.27)	7.22	(6.28)	41.60
LB	2.91	0.10	0.03	0.16	3.02	(3.49)	6.63	(5.50)	15.37
NE	2.19	0.60	0.25	0.54	1.93	(2.56)	5.89	(3.82)	13.91
UGP	1.68	0.41	0.16	0.50	2.07	(1.87)	3.25	(2.27)	13.99
NOV	1.82	0.39	0.18	0.32	1.88	(2.13)	4.85	(3.32)	12.40
WFRD	1.94	0.56	0.26	1.34	1.65	(2.24)	4.77	(3.29)	13.20
VVV	1.58	0.27	0.16	0.31	1.43	(1.77)	3.83	(2.86)	10.00
MGY	1.44	0.30	0.15	1.01	1.49	(1.56)	3.08	(2.91)	8.43
MUR	2.29	0.14	0.05	0.17	2.79	(2.60)	4.82	(4.00)	19.82

Delisting Warning - AROC

Archrock was delisted

The entity Archrock with a symbol AROC was delisted from New York Stock Exchange. Please try IDLDX New with a symbol IDLDX from now on. Check all delisted instruments accross multiple markets.

Still Interested in Archrock?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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