Enerflex Correlations

EFXT Stock

USD 14.88 0.72 4.62%

The current 90-days correlation between Enerflex and Now Inc is 0.27 (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

Significant diversification

The correlation between Enerflex and DJI is 0.09 (i.e., Significant 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

0.81	PR	Permian Resources	Pair Corr
0.82	SD	SandRidge Energy	Pair Corr
0.71	VIST	Vista Oil Gas	Pair Corr
0.81	BKV	BKV Corporation	Pair Corr
0.81	BTE	Baytex Energy Corp	Pair Corr
0.77	CNX	CNX Resources Corp	Pair Corr
0.65	COP	ConocoPhillips	Pair Corr
0.67	DEC	Diversified Energy	Pair Corr
0.76	DVN	Devon Energy	Pair Corr
0.65	INR	Infinity Natural Res	Pair Corr

Moving against Enerflex Stock

0.9	VIVK	Vivakor	Pair Corr
0.79	EONR	EON Resources	Pair Corr
0.78	VG	Venture Global	Pair Corr
0.72	EP	Empire Petroleum Corp	Pair Corr
0.7	DMLP	Dorchester Minerals	Pair Corr
0.66	SM	SM Energy	Pair Corr
0.62	AXP	AXP Energy Split	Pair Corr
0.46	EW	East West Petroleum	Pair Corr
0.84	EPM	Evolution Petroleum	Pair Corr
0.77	BRN	Barnwell Industries	Pair Corr
0.69	EGY	Vaalco Energy	Pair Corr
0.57	CRC	California Resources Corp	Pair Corr
0.9	WTI	WT Offshore	Pair Corr
0.89	KOS	Kosmos Energy	Pair Corr

Related Correlations Analysis

	DNOW	XPRO	INVX	FLOC	AESI	GLP	VTOL	NESR	FLNG	BTE
DNOW		-0.16	-0.45	-0.34	0.7	0.67	0.26	-0.54	-0.43	-0.62	DNOW
XPRO	-0.16		0.77	0.58	-0.27	0.01	0.07	0.63	0.54	0.47	XPRO
INVX	-0.45	0.77		0.81	-0.62	-0.29	-0.33	0.91	0.62	0.86	INVX
FLOC	-0.34	0.58	0.81		-0.37	-0.4	-0.35	0.89	0.44	0.75	FLOC
AESI	0.7	-0.27	-0.62	-0.37		0.35	0.48	-0.58	-0.37	-0.77	AESI
GLP	0.67	0.01	-0.29	-0.4	0.35		0.24	-0.49	-0.3	-0.48	GLP
VTOL	0.26	0.07	-0.33	-0.35	0.48	0.24		-0.28	-0.16	-0.59	VTOL
NESR	-0.54	0.63	0.91	0.89	-0.58	-0.49	-0.28		0.5	0.82	NESR
FLNG	-0.43	0.54	0.62	0.44	-0.37	-0.3	-0.16	0.5		0.48	FLNG
BTE	-0.62	0.47	0.86	0.75	-0.77	-0.48	-0.59	0.82	0.48		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	+ 0.91	INVX
NESR	+ 0.89	FLOC
BTE	+ 0.86	INVX
BTE	+ 0.82	NESR
FLOC	+ 0.81	INVX
INVX	+ 0.77	XPRO

High negative correlations

BTE	- 0.77	AESI
AESI	- 0.62	INVX
BTE	- 0.62	DNOW
BTE	- 0.59	VTOL
NESR	- 0.58	AESI
NESR	- 0.54	DNOW

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	1.63	(0.21)	0.00	(0.27)	0.00	0.00	2.85	(4.14)	11.62
XPRO	2.31	0.12	0.05	0.15	2.74	(2.45)	5.44	(4.94)	14.92
INVX	2.02	0.25	0.11	0.37	2.01	(2.25)	5.81	(3.68)	12.82
FLOC	1.98	0.20	0.09	0.17	2.52	(2.08)	3.29	(4.26)	23.77
AESI	3.17	(0.12)	0.00	(0.13)	0.00	0.00	5.73	(4.70)	32.91
GLP	1.39	(0.25)	0.00	(0.34)	0.00	0.00	3.06	(2.99)	9.17
VTOL	1.67	0.03	0.01	0.10	2.24	(1.66)	3.37	(3.48)	12.30
NESR	2.04	0.71	0.29	1.71	1.74	(2.34)	6.38	(2.98)	22.01
FLNG	1.06	0.07	(0.01)	(0.13)	1.39	(1.14)	2.21	(2.05)	8.17
BTE	2.29	0.42	0.14	0.76	2.48	(2.69)	5.31	(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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