Civitas Resources Correlations

CIVI Stock

USD 53.51 1.24 2.26%

The current 90-days correlation between Civitas Resources and Magnolia Oil Gas is 0.8 (i.e., Very poor diversification). The correlation of Civitas Resources 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.

Civitas Resources Correlation With Market

Modest diversification

The correlation between Civitas Resources and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Civitas Resources 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 Civitas Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more detail on how to invest in Civitas Stock please use our How to Invest in Civitas Resources guide.

Moving together with Civitas Stock

0.67	PR	Permian Resources	Pair Corr
0.8	SD	SandRidge Energy	Pair Corr
0.9	SM	SM Energy	Pair Corr
0.66	EONR	EON Resources Symbol Change	Pair Corr
0.89	FANG	Diamondback Energy	Pair Corr
0.61	APA	APA Corporation	Pair Corr
0.84	BSM	Black Stone Minerals	Pair Corr
0.74	BTE	Baytex Energy Corp	Pair Corr
0.76	COP	ConocoPhillips	Pair Corr
0.84	DVN	Devon Energy	Pair Corr
0.82	EOG	EOG Resources Sell-off Trend	Pair Corr
0.67	EPM	Evolution Petroleum	Pair Corr
0.65	GFR	Greenfire Resources	Pair Corr
0.86	HES	Hess Earnings Call Next Week	Pair Corr
0.65	KOS	Kosmos Energy Potential Growth	Pair Corr
0.78	MGY	Magnolia Oil Gas	Pair Corr
0.93	MUR	Murphy Oil Earnings Call This Week	Pair Corr

Moving against Civitas Stock

0.33

CKX

CKX Lands

Pair Corr

Related Correlations Analysis

	MGY	SM	RRC	CPE	MTDR	MUR	ESTE	SBOW	VTLE
MGY		0.89	0.09	0.0	0.44	0.79	0.0	0.0	0.32	MGY
SM	0.89		0.21	0.0	0.54	0.95	0.0	0.0	0.48	SM
RRC	0.09	0.21		0.0	0.89	0.25	0.0	0.0	0.91	RRC
CPE	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CPE
MTDR	0.44	0.54	0.89	0.0		0.55	0.0	0.0	0.97	MTDR
MUR	0.79	0.95	0.25	0.0	0.55		0.0	0.0	0.52	MUR
ESTE	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ESTE
SBOW	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SBOW
VTLE	0.32	0.48	0.91	0.0	0.97	0.52	0.0	0.0		VTLE
	MGY	SM	RRC	CPE	MTDR	MUR	ESTE	SBOW	VTLE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

VTLE	+ 0.97	MTDR
MUR	+ 0.95	SM
VTLE	+ 0.91	RRC
SM	+ 0.89	MGY
MTDR	+ 0.89	RRC
MUR	+ 0.79	MGY

High negative correlations

VTLE	- 0.0	SBOW
VTLE	- 0.0	ESTE
SBOW	- 0.0	ESTE
SBOW	- 0.0	MUR
ESTE	- 0.0	MUR
SBOW	- 0.0	MTDR

Risk-Adjusted Indicators

There is a big difference between Civitas Stock performing well and Civitas Resources 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 Civitas Resources' 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
MGY	1.34	0.04	0.02	0.08	1.59	(1.43)	2.47	(2.88)	10.48
SM	1.67	0.00	0.00	0.03	2.34	(1.57)	2.93	(3.90)	13.00
RRC	1.48	0.45	0.27	0.44	1.21	(1.76)	4.31	(2.26)	10.24
CPE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MTDR	1.50	0.35	0.17	0.52	1.69	(1.62)	2.44	(2.82)	12.94
MUR	1.43	(0.04)	0.00	(0.11)	0.00	0.00	2.86	(2.63)	10.12
ESTE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBOW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VTLE	2.05	0.38	0.14	0.52	2.31	(2.22)	4.42	(4.48)	13.50

Civitas Resources Corporate Management

Adrian JD	General VP	Profile
Adrian Milton	General VP	Profile
Brian Cain	Chief Sustainability Officer	Profile
Carrie Fox	Independent Director	Profile
Sandra Garbiso	Chief Accounting Officer, Treasurer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC