Dril Quip Correlations

Summary

DRQDelisted Stock

USD 15.88 0.43 2.78%

The current 90-days correlation between Dril Quip and MRC Global is 0.1 (i.e., Average diversification). The correlation of Dril Quip 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.

Dril Quip Correlation With Market

Average diversification

The correlation between Dril Quip and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dril Quip and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Dril Stock

0.61	SHG	Shinhan Financial	Pair Corr
0.68	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Dril Stock

0.81	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.77	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.66	KB	KB Financial Group	Pair Corr
0.66	WMT	Walmart Aggressive Push	Pair Corr
0.66	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.63	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.61	BAC	Bank of America Aggressive Push	Pair Corr
0.59	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.54	HD	Home Depot	Pair Corr
0.45	CIB	Bancolombia SA ADR	Pair Corr
0.44	ITCL	Banco Ita Chile	Pair Corr
0.43	FNMFO	Federal National Mortgage	Pair Corr

Related Correlations Analysis

	MRC	NOV	SOI	RNGR	HLX	OII	NR	RES	OIS	FTI
MRC		0.4	0.3	0.8	0.58	0.93	0.44	0.16	0.82	0.86	MRC
NOV	0.4		-0.47	-0.01	0.7	0.51	0.91	0.31	0.65	0.24	NOV
SOI	0.3	-0.47		0.32	0.04	0.27	-0.58	0.29	-0.01	0.54	SOI
RNGR	0.8	-0.01	0.32		0.16	0.76	0.12	-0.27	0.67	0.8	RNGR
HLX	0.58	0.7	0.04	0.16		0.62	0.64	0.6	0.64	0.53	HLX
OII	0.93	0.51	0.27	0.76	0.62		0.49	0.2	0.89	0.92	OII
NR	0.44	0.91	-0.58	0.12	0.64	0.49		0.19	0.63	0.21	NR
RES	0.16	0.31	0.29	-0.27	0.6	0.2	0.19		0.15	0.24	RES
OIS	0.82	0.65	-0.01	0.67	0.64	0.89	0.63	0.15		0.74	OIS
FTI	0.86	0.24	0.54	0.8	0.53	0.92	0.21	0.24	0.74		FTI
	MRC	NOV	SOI	RNGR	HLX	OII	NR	RES	OIS	FTI

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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

OII	+ 0.93	MRC
FTI	+ 0.92	OII
NR	+ 0.91	NOV
OIS	+ 0.89	OII
FTI	+ 0.86	MRC
OIS	+ 0.82	MRC

High negative correlations

NR	- 0.58	SOI
SOI	- 0.47	NOV
RES	- 0.27	RNGR
OIS	- 0.01	SOI
RNGR	- 0.01	NOV

Risk-Adjusted Indicators

There is a big difference between Dril Stock performing well and Dril Quip 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 Dril Quip'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
MRC	1.49	(0.07)	0.03	0.09	1.53	(1.71)	3.28	(2.94)	18.83
NOV	1.25	(0.22)	0.00	(0.05)	0.00	0.00	2.86	(2.72)	10.91
SOI	2.52	0.57	0.18	4.47	2.11	(3.13)	4.44	(4.19)	43.08
RNGR	1.40	0.47	0.26	0.75	1.17	(1.61)	3.56	(2.21)	7.27
HLX	2.00	(0.11)	0.01	0.07	2.29	(2.09)	5.47	(3.94)	11.37
OII	2.18	0.00	0.05	0.12	2.43	(2.31)	4.35	(4.07)	15.31
NR	1.77	(0.22)	(0.04)	0.01	2.10	(1.93)	3.73	(3.89)	13.55
RES	2.14	(0.13)	(0.01)	0.05	2.43	(2.45)	4.55	(4.55)	14.14
OIS	2.43	0.03	0.04	0.14	2.68	(2.83)	5.26	(4.37)	15.23
FTI	1.61	0.13	0.06	0.23	2.23	(1.56)	3.52	(3.50)	9.70

Delisting Warning - DRQ

Dril Quip was delisted

The entity Dril Quip with a symbol DRQ was delisted from New York Stock Exchange. Please try Innovex International, with a symbol INVX from now on. Check all delisted instruments accross multiple markets.

Still Interested in Dril Quip?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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