Diversified Energy Correlations

DEC Stock

13.43 0.08 0.60%

The current 90-days correlation between Diversified Energy and Navigator Holdings is 0.07 (i.e., Significant diversification). The correlation of Diversified Energy 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.

Diversified Energy Correlation With Market

Excellent diversification

The correlation between Diversified Energy and DJI is -0.54 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diversified Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Diversified Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Diversified Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in services.

For information on how to trade Diversified Stock refer to our How to Trade Diversified Stock guide.

Moving together with Diversified Stock

0.61	LGN	Logan Energy Corp	Pair Corr
0.67	CRK	Comstock Resources Earnings Call This Week	Pair Corr
0.63	EQT	EQT Corporation	Pair Corr
0.78	EXE	Expand Energy	Pair Corr

Moving against Diversified Stock

0.45	COP	ConocoPhillips	Pair Corr
0.38	OBE	Obsidian Energy	Pair Corr
0.31	PSK	PrairieSky Royalty	Pair Corr
0.31	CNQ	Canadian Natural Res	Pair Corr
0.31	CRC	California Resources Corp	Pair Corr
0.7	NRT	North European Oil	Pair Corr
0.65	EGY	Vaalco Energy	Pair Corr
0.62	MXC	Mexco Energy	Pair Corr
0.43	REI	Ring Energy	Pair Corr
0.35	GTE	Gran Tierra Energy	Pair Corr

Related Correlations Analysis

	NVGS	TTI	HNRG	RES	WBI	KOS	NPKI	NESR	HPK	HLX
NVGS		0.64	-0.34	0.66	-0.09	0.21	0.53	0.72	-0.3	0.6	NVGS
TTI	0.64		-0.44	0.79	-0.32	0.11	0.81	0.96	-0.76	0.69	TTI
HNRG	-0.34	-0.44		-0.22	0.45	0.1	-0.11	-0.46	0.41	-0.16	HNRG
RES	0.66	0.79	-0.22		-0.1	0.23	0.78	0.76	-0.57	0.65	RES
WBI	-0.09	-0.32	0.45	-0.1		0.78	0.12	-0.24	0.59	0.16	WBI
KOS	0.21	0.11	0.1	0.23	0.78		0.41	0.2	0.23	0.47	KOS
NPKI	0.53	0.81	-0.11	0.78	0.12	0.41		0.79	-0.41	0.86	NPKI
NESR	0.72	0.96	-0.46	0.76	-0.24	0.2	0.79		-0.67	0.77	NESR
HPK	-0.3	-0.76	0.41	-0.57	0.59	0.23	-0.41	-0.67		-0.22	HPK
HLX	0.6	0.69	-0.16	0.65	0.16	0.47	0.86	0.77	-0.22		HLX
	NVGS	TTI	HNRG	RES	WBI	KOS	NPKI	NESR	HPK	HLX

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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

NESR	+ 0.96	TTI
HLX	+ 0.86	NPKI
NPKI	+ 0.81	TTI
RES	+ 0.79	TTI
NESR	+ 0.79	NPKI
NPKI	+ 0.78	RES

High negative correlations

HPK	- 0.76	TTI
HPK	- 0.67	NESR
HPK	- 0.57	RES
NESR	- 0.46	HNRG
HNRG	- 0.44	TTI
HPK	- 0.41	NPKI

Risk-Adjusted Indicators

There is a big difference between Diversified Stock performing well and Diversified Energy 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 Diversified Energy's 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
NVGS	1.07	0.15	0.08	0.79	0.98	(1.39)	3.08	(2.30)	8.39
TTI	2.77	0.67	0.22	0.54	2.71	(3.22)	5.99	(4.75)	16.56
HNRG	3.28	(0.18)	0.00	(0.02)	0.00	0.00	6.07	(7.33)	34.22
RES	1.97	0.05	0.02	0.12	3.52	(2.09)	5.14	(3.19)	23.85
WBI	1.86	(0.16)	0.00	(0.10)	0.00	0.00	3.46	(4.35)	11.64
KOS	4.51	0.09	0.02	0.17	4.96	(5.91)	11.18	(8.00)	35.42
NPKI	1.77	0.06	0.04	0.13	1.91	(2.06)	3.95	(3.24)	9.71
NESR	1.84	0.72	0.40	0.89	1.22	(2.18)	6.38	(2.49)	11.47
HPK	4.09	(0.36)	0.00	(0.26)	0.00	0.00	8.28	(8.90)	21.96
HLX	2.16	0.24	0.10	0.26	2.47	(2.39)	4.76	(4.05)	12.24

Diversified Energy Corporate Management

Benjamin JD	Chief VP	Profile
Maverick Bentley	Executive Operations	Profile
Douglas Kris	Senior Communications	Profile
Richard Gideon	Chief Officer	Profile
John Crook	Health Environmental	Profile
William Kurtz	Engineering Land	Profile
Chris Judd	Social, Environmental	Profile

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