Gran Tierra Correlations

GTE Stock

USD 6.03 0.34 5.34%

The current 90-days correlation between Gran Tierra Energy and SilverBow Resources is -0.05 (i.e., Good diversification). The correlation of Gran Tierra 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.

Gran Tierra Correlation With Market

Modest diversification

The correlation between Gran Tierra Energy and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gran Tierra Energy 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 Gran Tierra Energy. 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 Gran Stock

0.76	SD	SandRidge Energy	Pair Corr
0.61	SM	SM Energy	Pair Corr
0.77	VTLE	Vital Energy	Pair Corr
0.87	EONR	EON Resources Symbol Change	Pair Corr
0.72	FANG	Diamondback Energy	Pair Corr
0.77	APA	APA Corporation	Pair Corr
0.7	BRY	Berry Petroleum Corp	Pair Corr
0.87	BTE	Baytex Energy Corp	Pair Corr
0.79	DVN	Devon Energy	Pair Corr
0.71	EGY	Vaalco Energy	Pair Corr
0.75	KOS	Kosmos Energy Potential Growth	Pair Corr
0.83	MNR	Mach Natural Resources	Pair Corr

Moving against Gran Stock

0.37	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.36	EPM	Evolution Petroleum	Pair Corr
0.34	EXE	Expand Energy Symbol Change	Pair Corr
0.32	EQT	EQT Corporation	Pair Corr

Related Correlations Analysis

	ESTE	CPE	PR	PED	CPG	VET	OVV	VTLE	SBOW
ESTE		0.84	0.61	-0.45	-0.4	0.18	0.44	0.27	-0.32	ESTE
CPE	0.84		0.47	-0.24	-0.47	0.22	0.35	0.16	-0.22	CPE
PR	0.61	0.47		-0.05	-0.31	0.76	0.91	0.56	-0.43	PR
PED	-0.45	-0.24	-0.05		-0.08	0.16	-0.06	-0.4	0.34	PED
CPG	-0.4	-0.47	-0.31	-0.08		-0.2	-0.16	0.21	-0.06	CPG
VET	0.18	0.22	0.76	0.16	-0.2		0.8	0.56	-0.38	VET
OVV	0.44	0.35	0.91	-0.06	-0.16	0.8		0.7	-0.46	OVV
VTLE	0.27	0.16	0.56	-0.4	0.21	0.56	0.7		-0.39	VTLE
SBOW	-0.32	-0.22	-0.43	0.34	-0.06	-0.38	-0.46	-0.39		SBOW
	ESTE	CPE	PR	PED	CPG	VET	OVV	VTLE	SBOW

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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

OVV	+ 0.91	PR
CPE	+ 0.84	ESTE
OVV	+ 0.8	VET
VET	+ 0.76	PR
VTLE	+ 0.7	OVV
PR	+ 0.61	ESTE

High negative correlations

CPG	- 0.47	CPE
SBOW	- 0.46	OVV
PED	- 0.45	ESTE
SBOW	- 0.43	PR
VTLE	- 0.4	PED
CPG	- 0.4	ESTE

Risk-Adjusted Indicators

There is a big difference between Gran Stock performing well and Gran Tierra 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 Gran Tierra'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
ESTE	2.25	0.23	0.01	(0.24)	2.66	(2.41)	4.37	(4.80)	10.76
CPE	2.33	0.11	(0.03)	(0.05)	3.03	(2.30)	4.32	(5.23)	12.38
PR	1.64	0.10	0.05	0.21	1.94	(1.79)	2.90	(3.33)	7.95
PED	2.04	(0.01)	(0.02)	0.11	2.27	(2.77)	3.49	(3.30)	22.97
CPG	1.55	(0.14)	0.00	(1.05)	0.00	0.00	2.84	(3.94)	8.83
VET	1.75	0.05	0.01	0.20	2.05	(1.84)	3.43	(2.92)	8.52
OVV	1.70	0.06	0.02	0.19	2.04	(1.77)	4.10	(3.79)	9.07
VTLE	2.64	(0.23)	0.00	(0.05)	0.00	0.00	5.41	(6.77)	17.63
SBOW	1.58	0.16	0.05	0.38	1.86	(1.98)	3.59	(2.41)	15.61

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