Earthstone Energy Correlations

Summary

ESTEDelisted Stock

USD 15.32 0.32 2.13%

The current 90-days correlation between Earthstone Energy and Vital Energy is 0.06 (i.e., Significant diversification). The correlation of Earthstone Energy 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.

Earthstone Energy Correlation With Market

Modest diversification

The correlation between Earthstone Energy and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Earthstone Energy 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 estimate.

Moving together with Earthstone Stock

0.78	FNMFO	Federal National Mortgage	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.79	BAC	Bank of America Aggressive Push	Pair Corr

Moving against Earthstone Stock

0.83	KO	Coca Cola Aggressive Push	Pair Corr
0.74	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.65	BCH	Banco De Chile	Pair Corr
0.54	VZ	Verizon Communications Aggressive Push	Pair Corr
0.52	SHG	Shinhan Financial	Pair Corr
0.47	PG	Procter Gamble	Pair Corr
0.39	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.38	WF	Woori Financial Group	Pair Corr
0.34	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	VTLE	CRK	MGY	OBE	CPE	SD	SBOW	PR	FANG	AR
VTLE		0.13	0.27	0.76	0.15	0.8	-0.4	0.54	0.73	0.19	VTLE
CRK	0.13		0.88	-0.22	0.67	-0.25	-0.31	0.84	0.11	0.89	CRK
MGY	0.27	0.88		-0.02	0.55	-0.07	-0.2	0.9	0.4	0.78	MGY
OBE	0.76	-0.22	-0.02		-0.07	0.83	-0.19	0.13	0.77	-0.2	OBE
CPE	0.15	0.67	0.55	-0.07		-0.24	-0.22	0.5	0.13	0.41	CPE
SD	0.8	-0.25	-0.07	0.83	-0.24		-0.17	0.19	0.72	-0.04	SD
SBOW	-0.4	-0.31	-0.2	-0.19	-0.22	-0.17		-0.4	-0.15	-0.32	SBOW
PR	0.54	0.84	0.9	0.13	0.5	0.19	-0.4		0.46	0.84	PR
FANG	0.73	0.11	0.4	0.77	0.13	0.72	-0.15	0.46		0.13	FANG
AR	0.19	0.89	0.78	-0.2	0.41	-0.04	-0.32	0.84	0.13		AR
	VTLE	CRK	MGY	OBE	CPE	SD	SBOW	PR	FANG	AR

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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

PR	+ 0.9	MGY
AR	+ 0.89	CRK
MGY	+ 0.88	CRK
PR	+ 0.84	CRK
AR	+ 0.84	PR
SD	+ 0.83	OBE

High negative correlations

PR	- 0.4	SBOW
SBOW	- 0.4	VTLE
AR	- 0.32	SBOW
SBOW	- 0.31	CRK
SD	- 0.25	CRK
SD	- 0.24	CPE

Risk-Adjusted Indicators

There is a big difference between Earthstone Stock performing well and Earthstone Energy 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 Earthstone Energy'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
VTLE	2.64	(0.20)	0.00	(0.05)	0.00	0.00	5.41	(6.77)	17.63
CRK	2.52	0.36	0.14	0.30	2.54	(2.73)	6.81	(4.09)	14.25
MGY	1.56	0.09	0.06	0.16	1.95	(1.62)	2.89	(3.67)	8.54
OBE	2.16	(0.25)	0.00	(0.29)	0.00	0.00	3.76	(4.26)	13.07
CPE	2.33	(0.02)	(0.02)	0.06	3.03	(2.30)	4.32	(5.23)	12.38
SD	1.29	(0.24)	0.00	(0.20)	0.00	0.00	3.24	(3.26)	10.79
SBOW	1.58	0.24	0.07	(30.48)	1.86	(1.98)	3.59	(2.41)	15.61
PR	1.63	0.10	0.05	0.19	1.91	(1.80)	2.90	(3.33)	7.95
FANG	1.63	(0.12)	0.00	(0.06)	0.00	0.00	3.00	(3.91)	9.60
AR	1.88	0.18	0.08	0.24	2.17	(1.96)	4.91	(3.20)	13.54

View Earthstone Energy Related Equities

Vital Energy Comstock Resources Magnolia Oil Gas Obsidian Energy Callon Petroleum SandRidge Energy SilverBow Resources Permian Resources Diamondback Energy Antero Resources Corp Matador Resources Murphy Oil Civitas Resources Gran Tierra Energy PEDEVCO Corp

Risk & Return

Correlation

Still Interested in Earthstone Energy?

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