Geospace Technologies Correlations

GEOS Stock

USD 9.74 0.17 1.72%

The current 90-days correlation between Geospace Technologies and Natural Gas Services is 0.37 (i.e., Weak diversification). The correlation of Geospace Technologies 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.

Geospace Technologies Correlation With Market

Significant diversification

The correlation between Geospace Technologies and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Geospace Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Geospace Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Geospace Stock

0.66	WFRD	Weatherford International Buyout Trend	Pair Corr
0.62	CHX	ChampionX Buyout Trend	Pair Corr
0.61	CLB	Core Laboratories	Pair Corr
0.75	NOV	NOV Inc	Pair Corr

Moving against Geospace Stock

0.52	EFXT	Enerflex	Pair Corr
0.45	KGS	Kodiak Gas Services,	Pair Corr
0.37	FTI	TechnipFMC PLC	Pair Corr
0.6	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.57	LBRT	Liberty Oilfield Services Earnings Call This Week	Pair Corr
0.37	NCSM	NCS Multistage Holdings	Pair Corr
0.36	PFIE	Profire Ene	Pair Corr

Related Correlations Analysis

	CCLP	EFXT	OIS	NR	MRC	NOA	NGS	DNOW	OII	AROC
CCLP		-0.2	-0.36	0.11	-0.32	-0.06	-0.28	-0.18	-0.41	-0.22	CCLP
EFXT	-0.2		0.63	0.47	0.49	0.8	0.93	0.49	0.36	0.91	EFXT
OIS	-0.36	0.63		-0.11	0.91	0.63	0.82	0.8	0.84	0.79	OIS
NR	0.11	0.47	-0.11		-0.25	0.44	0.23	-0.26	-0.3	0.28	NR
MRC	-0.32	0.49	0.91	-0.25		0.47	0.72	0.86	0.84	0.71	MRC
NOA	-0.06	0.8	0.63	0.44	0.47		0.75	0.46	0.4	0.72	NOA
NGS	-0.28	0.93	0.82	0.23	0.72	0.75		0.72	0.65	0.93	NGS
DNOW	-0.18	0.49	0.8	-0.26	0.86	0.46	0.72		0.8	0.63	DNOW
OII	-0.41	0.36	0.84	-0.3	0.84	0.4	0.65	0.8		0.49	OII
AROC	-0.22	0.91	0.79	0.28	0.71	0.72	0.93	0.63	0.49		AROC
	CCLP	EFXT	OIS	NR	MRC	NOA	NGS	DNOW	OII	AROC

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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

NGS	+ 0.93	EFXT
AROC	+ 0.93	NGS
AROC	+ 0.91	EFXT
MRC	+ 0.91	OIS
DNOW	+ 0.86	MRC
OII	+ 0.84	OIS

High negative correlations

OII	- 0.41	CCLP
OIS	- 0.36	CCLP
MRC	- 0.32	CCLP
OII	- 0.3	NR
NGS	- 0.28	CCLP
DNOW	- 0.26	NR

Risk-Adjusted Indicators

There is a big difference between Geospace Stock performing well and Geospace Technologies 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 Geospace Technologies' 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
CCLP	2.66	(0.03)	0.00	0.13	0.00	0.00	8.11	(4.35)	17.49
EFXT	1.57	0.72	0.42	1.60	1.15	(2.00)	3.72	(2.18)	10.85
OIS	2.25	0.29	0.10	0.40	2.48	(2.63)	5.15	(4.37)	16.39
NR	1.76	0.02	0.00	0.15	2.10	(1.90)	3.73	(3.58)	14.86
MRC	1.46	0.20	0.13	0.29	1.37	(1.77)	3.28	(2.51)	18.83
NOA	1.68	0.16	0.06	0.32	2.12	(1.91)	4.11	(2.59)	21.04
NGS	2.13	0.52	0.23	0.96	1.95	(2.66)	5.09	(3.88)	18.53
DNOW	1.36	0.11	0.06	0.15	1.47	(1.49)	2.49	(2.54)	16.46
OII	2.03	0.07	0.03	0.13	2.26	(2.25)	4.13	(3.85)	18.18
AROC	1.84	0.53	0.27	0.99	1.56	(2.36)	4.38	(2.33)	19.29

Geospace Technologies Corporate Executives

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

	Robert CPA	CFO VP	Profile
	Richard Kelley	Executive COO	Profile

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