Geospace Technologies Correlations

GEOS Stock

USD 17.69 0.78 4.61%

The current 90-days correlation between Geospace Technologies and Forum Energy Technologies is 0.2 (i.e., Modest 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

Average diversification

The correlation between Geospace Technologies and DJI is 0.16 (i.e., Average 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.

Build AI portfolio with Geospace Stock

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 metropolitan statistical area.

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

Moving together with Geospace Stock

0.75	MIND	Mind Technology	Pair Corr
0.7	MTRX	Matrix Service	Pair Corr
0.72	GLABF	Gemina Laboratories	Pair Corr
0.72	ZTLLF	Zonetail	Pair Corr
0.76	NSFDF	NXT Energy Solutions	Pair Corr

Moving against Geospace Stock

0.76	SND	Smart Sand	Pair Corr
0.73	0NIS	SBM Offshore NV	Pair Corr
0.6	NESR	National Energy Services	Pair Corr
0.59	GIFI	Gulf Island Fabrication Sell-off Trend	Pair Corr
0.54	DTI	Drilling Tools Inter	Pair Corr
0.53	FLOC	Flowco Holdings	Pair Corr
0.48	FET	Forum Energy Technologies	Pair Corr
0.46	WFRD	Weatherford International	Pair Corr
0.42	RES	RPC Inc	Pair Corr
0.4	NOV	NOV Inc	Pair Corr
0.32	OIS	Oil States International	Pair Corr
0.32	603727	Bomesc Offshore Engi	Pair Corr
0.87	MGCV	MGC Ventures	Pair Corr
0.67	FTV	Fortive Corp	Pair Corr
0.62	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.62	LCDX	Caliber Imaging Diag	Pair Corr
0.58	TCW	Trican Well Service	Pair Corr
0.58	SMXWW	SMX Public Limited	Pair Corr
0.58	DGWPF	Drgerwerk AG	Pair Corr
0.56	SYF	Synchrony Financial	Pair Corr
0.47	BROS	Dutch Bros	Pair Corr
0.44	NAUFF	NevGold Corp	Pair Corr
0.39	CASXF	Casa Minerals	Pair Corr

Related Correlations Analysis

	FET	NGS	RNGR	GFR	OIS	AREC	WTI	JKS	OMSE	OBE
FET		0.89	0.55	0.01	0.87	-0.62	-0.72	0.23	0.07	-0.23	FET
NGS	0.89		0.55	0.03	0.75	-0.74	-0.87	0.45	-0.07	-0.09	NGS
RNGR	0.55	0.55		-0.04	0.73	-0.53	-0.56	0.36	0.36	-0.06	RNGR
GFR	0.01	0.03	-0.04		-0.08	-0.16	0.06	-0.34	0.18	0.23	GFR
OIS	0.87	0.75	0.73	-0.08		-0.55	-0.56	0.16	0.14	-0.09	OIS
AREC	-0.62	-0.74	-0.53	-0.16	-0.55		0.83	-0.41	-0.06	0.06	AREC
WTI	-0.72	-0.87	-0.56	0.06	-0.56	0.83		-0.61	0.07	0.17	WTI
JKS	0.23	0.45	0.36	-0.34	0.16	-0.41	-0.61		-0.03	-0.08	JKS
OMSE	0.07	-0.07	0.36	0.18	0.14	-0.06	0.07	-0.03		-0.34	OMSE
OBE	-0.23	-0.09	-0.06	0.23	-0.09	0.06	0.17	-0.08	-0.34		OBE
	FET	NGS	RNGR	GFR	OIS	AREC	WTI	JKS	OMSE	OBE

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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	+ 0.89	FET
OIS	+ 0.87	FET
WTI	+ 0.83	AREC
OIS	+ 0.75	NGS
OIS	+ 0.73	RNGR
RNGR	+ 0.55	FET

High negative correlations

WTI	- 0.87	NGS
AREC	- 0.74	NGS
WTI	- 0.72	FET
AREC	- 0.62	FET
JKS	- 0.61	WTI
WTI	- 0.56	OIS

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
FET	2.48	0.56	0.13	0.75	3.62	(2.68)	6.96	(4.77)	23.84
NGS	1.56	0.30	0.12	0.52	1.94	(1.67)	3.65	(2.58)	12.45
RNGR	1.61	(0.03)	(0.01)	0.03	2.22	(1.71)	3.15	(3.79)	11.62
GFR	2.84	0.07	0.00	(0.15)	3.50	(3.20)	5.87	(6.78)	16.48
OIS	2.27	0.17	0.06	0.15	3.08	(2.48)	5.56	(4.06)	20.50
AREC	7.10	(0.29)	0.00	(0.03)	0.00	0.00	13.10	(12.99)	63.18
WTI	3.01	(0.15)	0.00	(0.07)	0.00	0.00	6.70	(4.91)	32.60
JKS	3.23	0.21	0.06	0.19	3.79	(3.42)	7.49	(6.11)	22.35
OMSE	3.63	0.09	0.02	0.12	4.15	(4.67)	9.86	(7.89)	32.04
OBE	2.00	(0.14)	0.00	(0.10)	0.00	0.00	3.53	(4.05)	11.51

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
Todd Bushey	Senior CTO	Profile
Ronald Bushey	Senior CTO	Profile

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