Energy Services Correlations

ESOA Stock

USD 14.60 0.68 4.45%

The current 90-days correlation between Energy Services and Blink Charging Co is 0.1 (i.e., Average diversification). The correlation of Energy Services 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.

Energy Services Correlation With Market

Very weak diversification

The correlation between Energy Services and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Services and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Energy Stock

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

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

Moving together with Energy Stock

0.92	TW1	Tenaris SA	Pair Corr
0.92	TS	Tenaris SA ADR	Pair Corr
0.89	CEU	CES Energy Solutions Earnings Call This Week	Pair Corr
0.91	DWSN	Dawson Geophysical Earnings Call Next Week	Pair Corr
0.77	VTOL	Bristow Group Earnings Call This Week	Pair Corr
0.79	WFRD	Weatherford International	Pair Corr
0.73	AT	Ashtead Technology	Pair Corr
0.86	E1V	Eidesvik Offshore ASA	Pair Corr
0.85	WTTR	Select Energy Services	Pair Corr
0.66	MATR	Mattr Corp	Pair Corr
0.78	FLOC	Flowco Holdings	Pair Corr
0.88	TGC	TGS ASA	Pair Corr
0.87	BKR	Baker Hughes	Pair Corr
0.73	NOA	North American Const Earnings Call Next Week	Pair Corr
0.86	FET	Forum Energy Technologies	Pair Corr
0.88	FTI	TechnipFMC PLC	Pair Corr
0.69	HAL	Halliburton	Pair Corr
0.86	HLX	Helix Energy Solutions	Pair Corr
0.92	KGS	Kodiak Gas Services Earnings Call This Week	Pair Corr
0.84	NGS	Natural Gas Services	Pair Corr
0.78	NOA	North American Const	Pair Corr
0.78	NOV	NOV Inc	Pair Corr
0.88	OII	Oceaneering International	Pair Corr
0.86	OIS	Oil States International Downward Rally	Pair Corr
0.68	SCL	Schlumberger Limited	Pair Corr
0.74	1SD	Smart Sand	Pair Corr

Moving against Energy Stock

0.81	E	Enterprise Group	Pair Corr
0.68	SRJ	SRJ Technologies	Pair Corr
0.72	GEOS	Geospace Technologies	Pair Corr

Related Correlations Analysis

	BLNK	YDDL	DSX	POWW	ALTG	SKYX	ZONE	SMHI	CRGO	FCEL
BLNK		-0.51	-0.38	-0.03	-0.51	0.15	0.27	-0.01	0.74	-0.23	BLNK
YDDL	-0.51		0.83	-0.01	0.82	0.03	-0.05	0.42	-0.77	0.09	YDDL
DSX	-0.38	0.83		0.31	0.86	-0.13	-0.03	0.68	-0.69	0.0	DSX
POWW	-0.03	-0.01	0.31		0.09	-0.51	-0.22	0.68	-0.17	0.04	POWW
ALTG	-0.51	0.82	0.86	0.09		0.0	0.17	0.44	-0.69	0.03	ALTG
SKYX	0.15	0.03	-0.13	-0.51	0.0		0.53	-0.4	0.25	0.58	SKYX
ZONE	0.27	-0.05	-0.03	-0.22	0.17	0.53		-0.23	0.09	0.32	ZONE
SMHI	-0.01	0.42	0.68	0.68	0.44	-0.4	-0.23		-0.27	-0.13	SMHI
CRGO	0.74	-0.77	-0.69	-0.17	-0.69	0.25	0.09	-0.27		-0.08	CRGO
FCEL	-0.23	0.09	0.0	0.04	0.03	0.58	0.32	-0.13	-0.08		FCEL
	BLNK	YDDL	DSX	POWW	ALTG	SKYX	ZONE	SMHI	CRGO	FCEL

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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

ALTG	+ 0.86	DSX
DSX	+ 0.83	YDDL
ALTG	+ 0.82	YDDL
CRGO	+ 0.74	BLNK
SMHI	+ 0.68	DSX
SMHI	+ 0.68	POWW

High negative correlations

CRGO	- 0.77	YDDL
CRGO	- 0.69	ALTG
CRGO	- 0.69	DSX
SKYX	- 0.51	POWW
ALTG	- 0.51	BLNK
YDDL	- 0.51	BLNK

Risk-Adjusted Indicators

There is a big difference between Energy Stock performing well and Energy Services 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 Energy Services' 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
BLNK	4.28	(0.92)	0.00	(0.33)	0.00	0.00	9.38	(8.33)	30.46
YDDL	4.29	0.69	0.14	(2.73)	4.17	(4.91)	11.02	(6.46)	31.17
DSX	2.44	0.67	0.27	(1.05)	1.87	(3.17)	6.42	(3.41)	14.10
POWW	2.12	0.22	0.08	0.28	2.23	(2.59)	4.92	(3.43)	11.64
ALTG	2.57	0.59	0.20	0.30	2.33	(2.83)	8.38	(4.73)	15.56
SKYX	4.08	(0.02)	0.01	0.03	3.97	(5.48)	10.40	(6.80)	33.38
ZONE	6.38	0.07	0.02	0.07	6.34	(8.27)	14.81	(9.37)	40.32
SMHI	2.71	0.15	0.04	0.19	3.19	(2.90)	6.07	(5.37)	18.58
CRGO	3.40	(1.29)	0.00	(0.40)	0.00	0.00	6.80	(7.69)	58.14
FCEL	4.85	0.53	0.09	0.25	5.70	(5.03)	12.26	(10.26)	35.51

Energy Services Corporate Executives

Elected by the shareholders, the Energy Services' board of directors comprises two types of representatives: Energy Services inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Energy. The board's role is to monitor Energy Services' management team and ensure that shareholders' interests are well served. Energy Services' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Energy Services' outside directors are responsible for providing unbiased perspectives on the board's policies.

Charles Crimmel

CFO, Treasurer and Secretary

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