Core Laboratories Correlations

CLB Stock

USD 19.32 0.14 0.72%

The current 90-days correlation between Core Laboratories and Crossamerica Partners LP is 0.33 (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 0.85 (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 industry.

Moving together with Core Stock

0.8	DTI	Drilling Tools Inter	Pair Corr
0.86	FTI	TechnipFMC PLC	Pair Corr
0.81	RES	RPC Inc Earnings Call Tomorrow	Pair Corr
0.62	002443	Zhejiang Kingland	Pair Corr
0.68	600583	Offshore Oil Engineering	Pair Corr
0.63	AVAL	Grupo Aval	Pair Corr
0.64	WF	Woori Financial Group	Pair Corr
0.76	BCH	Banco De Chile Normal Trading	Pair Corr
0.81	INPOY	InPost SA	Pair Corr
0.66	FFMH	First Farmers	Pair Corr
0.82	NHYDY	Norsk Hydro ASA	Pair Corr
0.79	UBSI	United Bankshares	Pair Corr
0.81	FNV	Franco Nevada	Pair Corr
0.79	AUSDF	Perenti Global	Pair Corr
0.73	RAIL	Freightcar America	Pair Corr
0.66	NEXOY	Nexon Co	Pair Corr
0.88	ZIJMY	Zijin Mining Group	Pair Corr

Moving against Core Stock

0.43	FNMFO	Federal National Mortgage	Pair Corr
0.74	AFFL	Affiliated Resources Corp	Pair Corr
0.54	00842XAA7	US00842XAA72	Pair Corr

Related Correlations Analysis

	CAPL	BORR	TNP	PDS	GRNT	NBR	VTS	TXO	SOC	HPK
CAPL		0.65	0.0	0.66	-0.54	0.72	-0.45	-0.38	0.21	-0.63	CAPL
BORR	0.65		0.0	0.97	-0.6	0.88	-0.52	-0.8	0.18	-0.81	BORR
TNP	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	TNP
PDS	0.66	0.97	0.0		-0.65	0.87	-0.56	-0.85	0.31	-0.83	PDS
GRNT	-0.54	-0.6	0.0	-0.65		-0.59	0.86	0.8	-0.4	0.8	GRNT
NBR	0.72	0.88	0.0	0.87	-0.59		-0.47	-0.65	0.26	-0.71	NBR
VTS	-0.45	-0.52	0.0	-0.56	0.86	-0.47		0.76	-0.21	0.77	VTS
TXO	-0.38	-0.8	0.0	-0.85	0.8	-0.65	0.76		-0.34	0.84	TXO
SOC	0.21	0.18	0.0	0.31	-0.4	0.26	-0.21	-0.34		-0.2	SOC
HPK	-0.63	-0.81	0.0	-0.83	0.8	-0.71	0.77	0.84	-0.2		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	+ 0.97	BORR
NBR	+ 0.88	BORR
NBR	+ 0.87	PDS
VTS	+ 0.86	GRNT
HPK	+ 0.84	TXO
TXO	+ 0.8	GRNT

High negative correlations

TXO	- 0.85	PDS
HPK	- 0.83	PDS
HPK	- 0.81	BORR
TXO	- 0.8	BORR
HPK	- 0.71	NBR
TXO	- 0.65	NBR

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	0.86	0.23	0.14	17.76	0.84	(0.96)	1.97	(1.85)	4.92
BORR	2.61	0.76	0.23	0.96	2.58	(2.94)	7.37	(5.73)	16.39
TNP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PDS	1.55	0.51	0.27	1.00	1.42	(1.80)	3.27	(2.63)	7.53
GRNT	1.83	(0.11)	0.00	2.88	0.00	0.00	3.31	(4.27)	8.29
NBR	2.67	0.71	0.24	0.68	2.39	(3.06)	9.68	(5.08)	17.72
VTS	1.22	(0.09)	0.00	(0.98)	0.00	0.00	2.43	(2.74)	6.95
TXO	1.24	(0.12)	0.00	(2.39)	0.00	0.00	2.69	(2.78)	7.22
SOC	9.28	0.22	0.04	0.12	10.77	(10.10)	20.50	(18.47)	72.14
HPK	3.96	(0.75)	0.00	(1.05)	0.00	0.00	7.59	(8.90)	21.96

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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