DAWSON GEOPHYSICAL Correlations

DG1 Stock

EUR 19.80 0.20 1.02%

The current 90-days correlation between DAWSON GEOPHYSICAL and PSI Software AG is 0.08 (i.e., Significant diversification). The correlation of DAWSON GEOPHYSICAL 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.

DAWSON GEOPHYSICAL Correlation With Market

Good diversification

The correlation between DAWSON GEOPHYSICAL and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DAWSON GEOPHYSICAL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to DAWSON GEOPHYSICAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DAWSON GEOPHYSICAL when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DAWSON GEOPHYSICAL - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DAWSON GEOPHYSICAL to buy it.

Moving together with DAWSON Stock

0.83	APC	Apple Inc	Pair Corr
0.82	APC	Apple Inc	Pair Corr
0.83	APC	Apple Inc	Pair Corr
0.83	APC	Apple Inc	Pair Corr
0.83	APC	Apple Inc	Pair Corr
0.84	APC	Apple Inc	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.78	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.77	MSF	Microsoft	Pair Corr
0.84	6GAA	Grupo Aval Acciones	Pair Corr
0.8	6GAA	Grupo Aval Acciones	Pair Corr
0.89	MFZA	Mitsubishi UFJ Financial	Pair Corr

Moving against DAWSON Stock

0.8	HYU	Hyundai Motor	Pair Corr
0.8	HYU	Hyundai Motor	Pair Corr
0.76	HYU	Hyundai Motor	Pair Corr
0.55	ECHA	Ecopetrol SA	Pair Corr
0.51	ECHA	Ecopetrol SA	Pair Corr
0.5	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	PSAN	GOQN	0GS	BG3	SCG	MGK	SWN	SIA1
PSAN		0.0	-0.49	0.69	-0.1	-0.5	-0.74	0.24	PSAN
GOQN	0.0		0.0	0.0	0.0	0.0	0.0	0.0	GOQN
0GS	-0.49	0.0		-0.48	0.61	0.49	0.77	-0.22	0GS
BG3	0.69	0.0	-0.48		-0.16	-0.32	-0.6	0.35	BG3
SCG	-0.1	0.0	0.61	-0.16		0.37	0.44	0.02	SCG
MGK	-0.5	0.0	0.49	-0.32	0.37		0.68	0.31	MGK
SWN	-0.74	0.0	0.77	-0.6	0.44	0.68		-0.12	SWN
SIA1	0.24	0.0	-0.22	0.35	0.02	0.31	-0.12		SIA1
	PSAN	GOQN	0GS	BG3	SCG	MGK	SWN	SIA1

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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

SWN	+ 0.77	0GS
BG3	+ 0.69	PSAN
SWN	+ 0.68	MGK
SCG	+ 0.61	0GS
MGK	+ 0.49	0GS
SWN	+ 0.44	SCG

High negative correlations

SWN	- 0.74	PSAN
SWN	- 0.6	BG3
MGK	- 0.5	PSAN
0GS	- 0.49	PSAN
BG3	- 0.48	0GS
MGK	- 0.32	BG3

Risk-Adjusted Indicators

There is a big difference between DAWSON Stock performing well and DAWSON GEOPHYSICAL 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 DAWSON GEOPHYSICAL'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
PSAN	0.86	(0.05)	0.00	(1.38)	0.00	0.00	1.43	(2.31)	7.34
GOQN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0GS	1.20	0.09	0.00	0.38	3.20	(1.17)	2.49	(1.89)	21.75
BG3	3.21	(0.39)	0.00	(0.11)	0.00	0.00	5.56	(8.33)	22.44
SCG	0.85	0.34	0.00	3.46	0.00	0.00	2.04	(0.90)	18.02
MGK	1.81	0.29	0.10	0.73	1.71	(2.56)	5.45	(3.81)	11.87
SWN	1.56	0.22	0.10	0.56	1.42	(1.87)	4.01	(2.71)	10.25
SIA1	1.01	0.10	(0.02)	(1.15)	1.25	(1.08)	2.33	(2.00)	6.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in DAWSON GEOPHYSICAL without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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