CKX Lands Correlations

CKX Stock

USD 12.51 0.42 3.25%

The correlation of CKX Lands 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.

CKX Lands Correlation With Market

Good diversification

The correlation between CKX Lands and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CKX Lands 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 CKX Lands. 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.

For more information on how to buy CKX Stock please use our How to Invest in CKX Lands guide.

Moving together with CKX Stock

0.74	O	Realty Income	Pair Corr
0.67	WY	Weyerhaeuser Sell-off Trend	Pair Corr
0.77	ADC-PA	Agree Realty	Pair Corr

Moving against CKX Stock

0.61	DOUG	Douglas Elliman	Pair Corr
0.58	LRE	Lead Real Estate	Pair Corr
0.33	UE	Urban Edge Properties Sell-off Trend	Pair Corr
0.64	EMITF	Elbit Imaging	Pair Corr
0.58	ACR	Acres Commercial Realty	Pair Corr

Related Correlations Analysis

	PNRG	TXO	XLEFF	COCBF	SBOW	MGY	CIVI	SM	EPM	EPSN
PNRG		-0.11	-0.63	0.14	-0.15	0.83	-0.56	0.29	0.7	0.72	PNRG
TXO	-0.11		0.29	0.08	0.02	0.19	0.38	0.61	-0.08	0.34	TXO
XLEFF	-0.63	0.29		-0.12	-0.25	-0.43	0.78	0.23	-0.77	-0.59	XLEFF
COCBF	0.14	0.08	-0.12		0.08	0.03	-0.18	0.0	-0.07	0.25	COCBF
SBOW	-0.15	0.02	-0.25	0.08		-0.16	-0.18	-0.26	-0.07	0.06	SBOW
MGY	0.83	0.19	-0.43	0.03	-0.16		-0.13	0.69	0.73	0.69	MGY
CIVI	-0.56	0.38	0.78	-0.18	-0.18	-0.13		0.51	-0.35	-0.48	CIVI
SM	0.29	0.61	0.23	0.0	-0.26	0.69	0.51		0.24	0.38	SM
EPM	0.7	-0.08	-0.77	-0.07	-0.07	0.73	-0.35	0.24		0.52	EPM
EPSN	0.72	0.34	-0.59	0.25	0.06	0.69	-0.48	0.38	0.52		EPSN
	PNRG	TXO	XLEFF	COCBF	SBOW	MGY	CIVI	SM	EPM	EPSN

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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

MGY	+ 0.83	PNRG
CIVI	+ 0.78	XLEFF
EPM	+ 0.73	MGY
EPSN	+ 0.72	PNRG
EPM	+ 0.7	PNRG
SM	+ 0.69	MGY

High negative correlations

EPM	- 0.77	XLEFF
XLEFF	- 0.63	PNRG
EPSN	- 0.59	XLEFF
CIVI	- 0.56	PNRG
EPSN	- 0.48	CIVI
MGY	- 0.43	XLEFF

Risk-Adjusted Indicators

There is a big difference between CKX Stock performing well and CKX Lands 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 CKX Lands' 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
PNRG	2.42	0.57	0.25	0.47	1.94	(2.98)	5.88	(4.38)	12.61
TXO	1.19	(0.15)	0.00	(0.14)	0.00	0.00	3.18	(2.75)	7.52
XLEFF	2.95	(1.46)	0.00	2.67	0.00	0.00	0.00	0.00	99.00
COCBF	3.01	1.05	0.00	(0.21)	0.00	0.00	0.00	0.00	150.00
SBOW	1.58	0.26	0.07	(0.84)	1.86	(1.98)	3.59	(2.41)	15.61
MGY	1.55	0.07	0.05	0.14	1.93	(1.61)	2.89	(3.67)	8.54
CIVI	1.66	(0.33)	0.00	(0.18)	0.00	0.00	2.92	(3.66)	8.85
SM	1.95	(0.05)	(0.01)	0.04	2.87	(1.76)	3.42	(4.03)	10.72
EPM	1.76	0.20	0.11	0.30	1.63	(2.23)	3.99	(2.93)	20.30
EPSN	1.91	0.20	0.05	4.51	2.18	(2.11)	4.46	(3.74)	11.32

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