Core Laboratories Correlations

CLB Stock

USD 18.76 0.20 1.08%

The current 90-days correlation between Core Laboratories and Crossamerica Partners LP is 0.3 (i.e., Weak diversification). The correlation of Core Laboratories 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.

Core Laboratories Correlation With Market

Very poor diversification

The correlation between Core Laboratories NV and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Laboratories NV and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Core Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Core Laboratories NV. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Core Stock

0.71	TW1	Tenaris SA Earnings Call Tomorrow	Pair Corr
0.71	TS	Tenaris SA ADR	Pair Corr
0.77	CEU	CES Energy Solutions	Pair Corr
0.66	RO3	ROBIT OYJ	Pair Corr
0.81	VTOL	Bristow Group	Pair Corr
0.85	WFRD	Weatherford International	Pair Corr
0.8	TWZ	Trican Well Service Earnings Call Tomorrow	Pair Corr
0.68	AT	Ashtead Technology	Pair Corr
0.78	E1V	Eidesvik Offshore ASA	Pair Corr
0.87	WTTR	Select Energy Services Earnings Call This Week	Pair Corr
0.9	FLOC	Flowco Holdings	Pair Corr
0.65	TGC	TGS ASA	Pair Corr
0.67	BKR	Baker Hughes	Pair Corr
0.88	DTI	Drilling Tools Inter	Pair Corr
0.75	NOA	North American Const	Pair Corr
0.9	FET	Forum Energy Technologies Earnings Call This Week	Pair Corr
0.95	TGI	TETRA Technologies	Pair Corr
0.84	FTI	TechnipFMC PLC Earnings Call This Week	Pair Corr
0.76	S1P	SD STANDARD ETC Earnings Call Tomorrow	Pair Corr
0.96	HAL	Halliburton	Pair Corr
0.71	HLX	Helix Energy Solutions	Pair Corr
0.62	KGS	Kodiak Gas Services	Pair Corr
0.81	NGS	Natural Gas Services	Pair Corr
0.82	NOA	North American Const Earnings Call Tomorrow	Pair Corr
0.94	NOV	NOV Inc	Pair Corr
0.79	OII	Oceaneering International Earnings Call Tomorrow	Pair Corr
0.93	OIS	Oil States International Earnings Call This Week	Pair Corr
0.92	SCL	Schlumberger Limited	Pair Corr
0.81	RES	RPC Inc	Pair Corr
0.79	1SD	Smart Sand	Pair Corr

Moving against Core Stock

0.44

LSE

Leishen Energy Holding

Pair Corr

Related Correlations Analysis

	CAPL	BORR	TNP	PDS	GRNT	NBR	VTS	TXO	SOC	HPK
CAPL		0.81	0.0	0.82	-0.04	0.83	0.33	0.08	0.5	-0.43	CAPL
BORR	0.81		0.0	0.98	-0.06	0.91	0.33	-0.22	0.56	-0.55	BORR
TNP	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	TNP
PDS	0.82	0.98	0.0		-0.14	0.93	0.24	-0.3	0.64	-0.62	PDS
GRNT	-0.04	-0.06	0.0	-0.14		-0.19	0.82	0.77	-0.7	0.7	GRNT
NBR	0.83	0.91	0.0	0.93	-0.19		0.21	-0.24	0.66	-0.57	NBR
VTS	0.33	0.33	0.0	0.24	0.82	0.21		0.71	-0.46	0.45	VTS
TXO	0.08	-0.22	0.0	-0.3	0.77	-0.24	0.71		-0.66	0.73	TXO
SOC	0.5	0.56	0.0	0.64	-0.7	0.66	-0.46	-0.66		-0.8	SOC
HPK	-0.43	-0.55	0.0	-0.62	0.7	-0.57	0.45	0.73	-0.8		HPK
	CAPL	BORR	TNP	PDS	GRNT	NBR	VTS	TXO	SOC	HPK

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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

PDS	+ 0.98	BORR
NBR	+ 0.93	PDS
NBR	+ 0.91	BORR
NBR	+ 0.83	CAPL
PDS	+ 0.82	CAPL
VTS	+ 0.82	GRNT

High negative correlations

HPK	- 0.8	SOC
SOC	- 0.7	GRNT
SOC	- 0.66	TXO
HPK	- 0.62	PDS
HPK	- 0.57	NBR
HPK	- 0.55	BORR

Risk-Adjusted Indicators

There is a big difference between Core Stock performing well and Core Laboratories 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 Core Laboratories' 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
CAPL	0.80	0.19	0.13	15.87	0.81	(0.91)	1.86	(1.28)	4.34
BORR	2.61	0.81	0.26	0.57	2.41	(3.00)	7.29	(5.54)	15.66
TNP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PDS	1.77	0.56	0.26	0.63	1.87	(2.13)	3.79	(2.63)	12.76
GRNT	1.95	0.02	(0.01)	0.12	2.48	(1.95)	3.44	(4.27)	9.25
NBR	2.51	0.36	0.11	0.30	2.99	(2.66)	6.61	(5.70)	19.56
VTS	1.45	0.08	0.02	0.38	1.68	(1.47)	2.98	(2.73)	6.95
TXO	1.40	(0.06)	0.00	(4.15)	0.00	0.00	2.69	(2.82)	6.59
SOC	8.24	1.04	0.13	0.37	8.54	(9.41)	20.50	(13.49)	72.14
HPK	4.22	(0.11)	0.00	(0.05)	0.00	0.00	9.62	(8.90)	25.29

Core Laboratories Corporate Management

Gwendolyn MBA	Senior Relations	Profile
J Dumas	Vice President Business Development	Profile
Martha Carnes	Presiding Non-Executive Lead Independent Member of the Supervisory Board	Profile
Monique Eeuwijk	Non-Executive Independent Member of the Supervisory Board	Profile
Jacobus Schouten	Managing Director	Profile

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