Enerflex Correlations

EFXT Stock

USD 15.01 0.08 0.53%

The current 90-days correlation between Enerflex and Now Inc is 0.21 (i.e., Modest diversification). The correlation of Enerflex 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.

Enerflex Correlation With Market

Average diversification

The correlation between Enerflex and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enerflex and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Enerflex Stock

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

For more information on how to buy Enerflex Stock please use our How to Invest in Enerflex guide.

Moving together with Enerflex Stock

0.75	SDE	Spartan Delta Corp	Pair Corr
0.72	BSM	Black Stone Minerals	Pair Corr
0.71	BTE	Baytex Energy Corp	Pair Corr
0.83	MUR	Murphy Oil	Pair Corr
0.64	NRT	North European Oil	Pair Corr
0.66	CJ	Cardinal Energy	Pair Corr
0.63	BIR	Birchcliff Energy	Pair Corr
0.65	KEL	Kelt Exploration	Pair Corr

Moving against Enerflex Stock

0.88	VIVK	Vivakor	Pair Corr
0.88	KOS	Kosmos Energy	Pair Corr
0.81	HEVI	Helium Evolution	Pair Corr
0.71	HPK	Highpeak Energy Acqu Potential Growth	Pair Corr
0.68	EU	enCore Energy Corp	Pair Corr
0.64	KRP	Kimbell Royalty Partners	Pair Corr
0.5	BRN	Barnwell Industries	Pair Corr
0.74	WTI	WT Offshore	Pair Corr
0.69	MVO	MV Oil Trust	Pair Corr
0.53	GRNT	Granite Ridge Resources	Pair Corr
0.44	MTR	Mesa Royalty Trust	Pair Corr
0.34	MGY	Magnolia Oil Gas	Pair Corr
0.89	AVN	Avanti Energy	Pair Corr
0.68	PCI	Perpetual Credit Income	Pair Corr
0.56	WIL	Wilton Resources	Pair Corr
0.5	MARPS	Marine Petroleum Trust	Pair Corr
0.34	HME	Hemisphere Energy	Pair Corr

Related Correlations Analysis

	DNOW	XPRO	INVX	FLOC	AESI	GLP	VTOL	NESR	FLNG	BTE
DNOW		0.19	-0.33	-0.3	0.58	0.71	0.34	-0.44	-0.24	-0.56	DNOW
XPRO	0.19		0.51	0.37	-0.02	0.13	0.01	0.34	0.49	0.32	XPRO
INVX	-0.33	0.51		0.81	-0.44	-0.27	-0.28	0.9	0.4	0.86	INVX
FLOC	-0.3	0.37	0.81		-0.2	-0.4	-0.26	0.9	0.25	0.75	FLOC
AESI	0.58	-0.02	-0.44	-0.2		0.4	0.59	-0.33	-0.25	-0.7	AESI
GLP	0.71	0.13	-0.27	-0.4	0.4		0.23	-0.47	-0.24	-0.47	GLP
VTOL	0.34	0.01	-0.28	-0.26	0.59	0.23		-0.19	-0.21	-0.53	VTOL
NESR	-0.44	0.34	0.9	0.9	-0.33	-0.47	-0.19		0.25	0.82	NESR
FLNG	-0.24	0.49	0.4	0.25	-0.25	-0.24	-0.21	0.25		0.37	FLNG
BTE	-0.56	0.32	0.86	0.75	-0.7	-0.47	-0.53	0.82	0.37		BTE
	DNOW	XPRO	INVX	FLOC	AESI	GLP	VTOL	NESR	FLNG	BTE

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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	+ 0.9	INVX
NESR	+ 0.9	FLOC
BTE	+ 0.86	INVX
BTE	+ 0.82	NESR
FLOC	+ 0.81	INVX
BTE	+ 0.75	FLOC

High negative correlations

BTE	- 0.7	AESI
BTE	- 0.56	DNOW
BTE	- 0.53	VTOL
BTE	- 0.47	GLP
NESR	- 0.47	GLP
AESI	- 0.44	INVX

Risk-Adjusted Indicators

There is a big difference between Enerflex Stock performing well and Enerflex 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 Enerflex'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
DNOW	1.66	(0.30)	0.00	(0.13)	0.00	0.00	2.85	(4.14)	11.62
XPRO	2.14	0.20	0.07	0.27	2.50	(2.35)	4.91	(4.10)	14.92
INVX	2.02	0.27	0.11	0.39	1.99	(2.22)	5.81	(3.68)	12.82
FLOC	2.05	0.22	0.10	0.20	2.44	(2.19)	3.92	(4.26)	23.77
AESI	3.15	0.00	(0.01)	0.08	4.65	(3.53)	5.73	(4.57)	32.91
GLP	1.50	(0.14)	0.00	(0.12)	0.00	0.00	3.20	(2.99)	9.17
VTOL	1.70	0.08	0.03	0.19	2.21	(1.72)	3.37	(3.48)	12.30
NESR	2.15	0.83	0.34	1.77	1.69	(2.54)	6.67	(2.98)	22.01
FLNG	1.04	0.18	0.04	(0.30)	1.37	(1.09)	2.21	(2.05)	8.17
BTE	2.31	0.39	0.13	0.63	2.44	(2.77)	5.49	(3.49)	18.04

Enerflex Corporate Management

Benjamin CPA	VP Controller	Profile
Jeffrey CFA	Vice Relations	Profile
Stefan Ali	Risk Strategy	Profile
David Izett	Senior Counsel	Profile
Patricia Martinez	Chief Officer	Profile

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