Energy Services Correlations

ESOA Stock

USD 8.19 0.14 1.68%

The current 90-days correlation between Energy Services and Blink Charging Co is 0.25 (i.e., Modest 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 0.44 (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 metropolitan statistical area.

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

Moving together with Energy Stock

0.7	DWSN	Dawson Geophysical	Pair Corr
0.67	VTOL	Bristow Group	Pair Corr
0.7	002629	Zhejiang Renzhi	Pair Corr
0.89	MATR	Mattr Corp	Pair Corr
0.61	NOA	North American Const	Pair Corr
0.87	POS	Plexus Holdings plc	Pair Corr
0.75	LSE	Leishen Energy Holding	Pair Corr
0.87	GEOS	Geospace Technologies	Pair Corr

Moving against Energy Stock

0.88	CEU	CES Energy Solutions	Pair Corr
0.85	0NIS	SBM Offshore NV	Pair Corr
0.78	002353	Yantai Jereh Oilfield	Pair Corr
0.68	FLOC	Flowco Holdings	Pair Corr
0.68	DTI	Drilling Tools Inter	Pair Corr
0.62	WFRD	Weatherford International	Pair Corr
0.38	CLB	Core Laboratories	Pair Corr
0.37	TS	Tenaris SA ADR	Pair Corr
0.88	SND	Smart Sand	Pair Corr
0.84	NGS	Natural Gas Services	Pair Corr
0.74	FET	Forum Energy Technologies	Pair Corr
0.68	TTI	Tetra Technologies	Pair Corr
0.67	FTI	TechnipFMC PLC	Pair Corr
0.59	WHD	Cactus Inc	Pair Corr
0.56	SLB	Schlumberger NV Aggressive Push	Pair Corr
0.54	NOV	NOV Inc	Pair Corr
0.53	RES	RPC Inc	Pair Corr
0.5	OII	Oceaneering International	Pair Corr
0.48	OIS	Oil States International	Pair Corr
0.47	HAL	Halliburton Aggressive Push	Pair Corr
0.43	KGS	Kodiak Gas Services	Pair Corr

Related Correlations Analysis

	BLNK	YDDL	DSX	POWW	ALTG	SKYX	ZONE	SMHI	CRGO	FCEL
BLNK		-0.01	-0.28	-0.76	0.75	-0.87	0.86	-0.33	0.78	0.4	BLNK
YDDL	-0.01		-0.12	-0.16	0.1	0.05	0.2	-0.47	-0.49	0.32	YDDL
DSX	-0.28	-0.12		0.63	-0.45	0.55	-0.51	0.61	-0.05	-0.34	DSX
POWW	-0.76	-0.16	0.63		-0.73	0.81	-0.84	0.69	-0.41	-0.34	POWW
ALTG	0.75	0.1	-0.45	-0.73		-0.7	0.91	-0.6	0.53	0.67	ALTG
SKYX	-0.87	0.05	0.55	0.81	-0.7		-0.86	0.34	-0.72	-0.35	SKYX
ZONE	0.86	0.2	-0.51	-0.84	0.91	-0.86		-0.58	0.56	0.64	ZONE
SMHI	-0.33	-0.47	0.61	0.69	-0.6	0.34	-0.58		0.12	-0.57	SMHI
CRGO	0.78	-0.49	-0.05	-0.41	0.53	-0.72	0.56	0.12		0.13	CRGO
FCEL	0.4	0.32	-0.34	-0.34	0.67	-0.35	0.64	-0.57	0.13		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

ZONE	+ 0.91	ALTG
ZONE	+ 0.86	BLNK
SKYX	+ 0.81	POWW
CRGO	+ 0.78	BLNK
ALTG	+ 0.75	BLNK
SMHI	+ 0.69	POWW

High negative correlations

SKYX	- 0.87	BLNK
ZONE	- 0.86	SKYX
ZONE	- 0.84	POWW
POWW	- 0.76	BLNK
ALTG	- 0.73	POWW
CRGO	- 0.72	SKYX

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	4.85	(1.39)	0.00	(0.44)	0.00	0.00	10.45	(9.42)	40.49
YDDL	5.93	0.57	0.04	(0.16)	7.09	(7.24)	17.04	(9.06)	46.80
DSX	2.28	(0.03)	(0.01)	0.05	2.39	(2.75)	5.99	(3.98)	13.18
POWW	2.51	0.21	0.08	0.20	2.88	(2.94)	6.13	(4.71)	16.03
ALTG	2.78	(0.48)	0.00	(0.13)	0.00	0.00	6.44	(4.75)	14.79
SKYX	5.25	1.04	0.26	0.36	4.21	(6.54)	15.04	(7.19)	26.24
ZONE	6.98	(2.33)	0.00	(1.15)	0.00	0.00	13.04	(12.77)	49.93
SMHI	2.64	(0.11)	0.00	(0.05)	0.00	0.00	5.60	(4.92)	17.74
CRGO	3.16	(0.63)	0.00	(0.22)	0.00	0.00	6.29	(7.86)	21.17
FCEL	5.40	(0.14)	0.01	0.04	5.91	(6.10)	14.73	(9.07)	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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