Barnwell Industries Correlations

BRN Stock

USD 1.65 0.02 1.23%

The current 90-days correlation between Barnwell Industries and Houston American Energy is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Barnwell Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Barnwell Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Barnwell Industries Correlation With Market

Modest diversification

The correlation between Barnwell Industries and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barnwell Industries 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 Barnwell Industries. 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.

To learn how to invest in Barnwell Stock, please use our How to Invest in Barnwell Industries guide.

Moving together with Barnwell Stock

0.86	EONR	EON Resources Symbol Change	Pair Corr
0.73	FANG	Diamondback Energy	Pair Corr
0.66	APA	APA Corporation	Pair Corr
0.81	BRY	Berry Petroleum Corp	Pair Corr
0.75	BTE	Baytex Energy Corp	Pair Corr
0.89	CNQ	Canadian Natural Res	Pair Corr
0.84	DVN	Devon Energy	Pair Corr
0.89	EGY	Vaalco Energy	Pair Corr
0.61	GFR	Greenfire Resources Potential Growth	Pair Corr
0.7	KOS	Kosmos Energy	Pair Corr

Moving against Barnwell Stock

0.85	BKV	BKV Corporation	Pair Corr
0.84	DEC	Diversified Energy	Pair Corr
0.75	CRK	Comstock Resources	Pair Corr
0.74	EP	Empire Petroleum Corp	Pair Corr
0.69	AR	Antero Resources Corp Sell-off Trend	Pair Corr
0.67	VIST	Vista Oil Gas	Pair Corr
0.61	DMLP	Dorchester Minerals	Pair Corr
0.47	VTLE	Vital Energy	Pair Corr
0.32	PR	Permian Resources	Pair Corr
0.78	EXE	Expand Energy Symbol Change	Pair Corr
0.76	EQT	EQT Corporation	Pair Corr
0.69	RRC	Range Resources Corp	Pair Corr
0.64	PHX	PHX Minerals	Pair Corr
0.42	GTE	Gran Tierra Energy	Pair Corr
0.33	HPK	Highpeak Energy Acqu	Pair Corr

Related Correlations Analysis

	HUSA	MXC	PHX	COCBF	REI	PVL	GTE	EPSN	PNRG
HUSA		0.65	0.19	-0.13	0.33	0.25	0.45	0.56	0.28	HUSA
MXC	0.65		-0.28	-0.23	0.7	0.54	0.04	0.24	-0.16	MXC
PHX	0.19	-0.28		0.15	-0.54	-0.55	0.69	0.51	0.69	PHX
COCBF	-0.13	-0.23	0.15		-0.34	-0.14	-0.06	-0.13	-0.07	COCBF
REI	0.33	0.7	-0.54	-0.34		0.82	-0.27	-0.04	-0.25	REI
PVL	0.25	0.54	-0.55	-0.14	0.82		-0.43	-0.3	-0.41	PVL
GTE	0.45	0.04	0.69	-0.06	-0.27	-0.43		0.77	0.62	GTE
EPSN	0.56	0.24	0.51	-0.13	-0.04	-0.3	0.77		0.39	EPSN
PNRG	0.28	-0.16	0.69	-0.07	-0.25	-0.41	0.62	0.39		PNRG
	HUSA	MXC	PHX	COCBF	REI	PVL	GTE	EPSN	PNRG

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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

PVL	+ 0.82	REI
EPSN	+ 0.77	GTE
REI	+ 0.7	MXC
GTE	+ 0.69	PHX
PNRG	+ 0.69	PHX
MXC	+ 0.65	HUSA

High negative correlations

PVL	- 0.55	PHX
REI	- 0.54	PHX
GTE	- 0.43	PVL
PNRG	- 0.41	PVL
REI	- 0.34	COCBF
EPSN	- 0.3	PVL

Risk-Adjusted Indicators

There is a big difference between Barnwell Stock performing well and Barnwell Industries 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 Barnwell Industries' 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
HUSA	3.95	0.40	0.07	0.94	4.99	(4.36)	10.45	(6.54)	27.36
MXC	2.14	(0.15)	0.00	(0.20)	0.00	0.00	4.35	(4.12)	13.25
PHX	1.56	0.23	0.12	0.74	1.65	(1.89)	4.55	(2.62)	13.02
COCBF	3.01	0.74	0.00	(0.28)	0.00	0.00	0.00	0.00	150.00
REI	2.20	(0.18)	0.00	(0.51)	0.00	0.00	4.92	(3.80)	18.99
PVL	1.41	(0.01)	0.00	0.62	0.00	0.00	3.29	(2.63)	8.81
GTE	2.37	0.26	0.10	0.86	2.49	(2.71)	5.83	(4.38)	15.86
EPSN	1.87	0.13	0.06	(2.72)	2.20	(2.01)	3.75	(3.69)	9.75
PNRG	3.16	0.51	0.14	0.61	3.35	(3.96)	7.62	(5.70)	23.35

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