Baker Hughes Correlations

BKR Stock

USD 46.40 0.25 0.54%

The current 90-days correlation between Baker Hughes and Schlumberger NV is 0.52 (i.e., Very weak diversification). The correlation of Baker Hughes 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.

Baker Hughes Correlation With Market

Average diversification

The correlation between Baker Hughes Co and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baker Hughes Co 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 Baker Hughes Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Baker Stock

0.78	FET	Forum Energy Technologies	Pair Corr
0.63	KGS	Kodiak Gas Services,	Pair Corr
0.62	XPRO	Expro Group Holdings	Pair Corr
0.86	TTI	Tetra Technologies	Pair Corr
0.64	VAL	Valaris Earnings Call This Week	Pair Corr
0.75	INVX	Innovex International, Symbol Change	Pair Corr
0.76	NESR	National Energy Services	Pair Corr

Moving against Baker Stock

0.5	GRO	Brazil Potash Corp	Pair Corr
0.39	HLX	Helix Energy Solutions	Pair Corr
0.63	NOA	North American Const	Pair Corr
0.31	GEOS	Geospace Technologies	Pair Corr
0.36	NPKI	NPK International Symbol Change	Pair Corr

Related Correlations Analysis

	SLB	NOV	WFRD	TS	HAL	FTI	DNOW	CHX	OII	VTOL
SLB		0.83	0.65	-0.04	0.7	0.14	0.69	0.99	0.65	0.85	SLB
NOV	0.83		0.71	-0.12	0.65	0.01	0.51	0.81	0.64	0.88	NOV
WFRD	0.65	0.71		-0.41	0.89	-0.2	0.32	0.64	0.85	0.79	WFRD
TS	-0.04	-0.12	-0.41		-0.2	0.83	0.03	-0.05	-0.13	-0.06	TS
HAL	0.7	0.65	0.89	-0.2		0.04	0.28	0.69	0.92	0.81	HAL
FTI	0.14	0.01	-0.2	0.83	0.04		-0.01	0.14	0.16	0.17	FTI
DNOW	0.69	0.51	0.32	0.03	0.28	-0.01		0.65	0.27	0.45	DNOW
CHX	0.99	0.81	0.64	-0.05	0.69	0.14	0.65		0.64	0.84	CHX
OII	0.65	0.64	0.85	-0.13	0.92	0.16	0.27	0.64		0.83	OII
VTOL	0.85	0.88	0.79	-0.06	0.81	0.17	0.45	0.84	0.83		VTOL
	SLB	NOV	WFRD	TS	HAL	FTI	DNOW	CHX	OII	VTOL

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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

CHX	+ 0.99	SLB
OII	+ 0.92	HAL
HAL	+ 0.89	WFRD
VTOL	+ 0.88	NOV
VTOL	+ 0.85	SLB
OII	+ 0.85	WFRD

High negative correlations

TS	- 0.41	WFRD
HAL	- 0.2	TS
FTI	- 0.2	WFRD
OII	- 0.13	TS
TS	- 0.12	NOV
VTOL	- 0.06	TS

Risk-Adjusted Indicators

There is a big difference between Baker Stock performing well and Baker Hughes 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 Baker Hughes' 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
SLB	1.22	(0.03)	0.00	(0.03)	0.00	0.00	2.61	(2.52)	10.89
NOV	1.40	(0.05)	0.00	(0.05)	0.00	0.00	2.32	(2.54)	18.47
WFRD	1.93	(0.30)	0.00	(0.35)	0.00	0.00	3.51	(3.88)	9.72
TS	0.99	0.09	0.06	0.27	1.28	(1.00)	1.70	(2.32)	6.28
HAL	1.41	(0.16)	0.00	(0.21)	0.00	0.00	3.08	(3.53)	7.21
FTI	1.31	0.09	0.05	0.11	1.63	(1.41)	3.22	(2.93)	8.95
DNOW	1.67	0.32	0.17	0.26	1.47	(1.88)	2.70	(2.72)	12.65
CHX	1.34	(0.06)	0.00	(0.06)	0.00	0.00	2.85	(2.87)	12.12
OII	1.71	(0.13)	0.00	(0.14)	0.00	0.00	3.00	(3.43)	9.79
VTOL	1.29	(0.05)	0.00	(0.08)	0.00	0.00	2.92	(2.98)	9.95

Baker Hughes Corporate Management

Regina Jones	Chief Legal Officer	Profile
Greg Brenneman	Independent Director	Profile
Clarence Cazalot	Independent Director	Profile
Lynn Elsenhans	Independent Director	Profile
Nancy CPA	Executive Officer	Profile

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