Independence Contract Correlations
The current 90-days correlation between Independence Contract and Mammoth Energy Services is -0.24 (i.e., Very good diversification). The correlation of Independence Contract 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.
Independence Contract Correlation With Market
Very good diversification
The correlation between Independence Contract Drilling and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Independence Contract Drilling and DJI in the same portfolio, assuming nothing else is changed.
Independence |
Moving together with Independence Stock
| 0.82 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.77 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.73 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.8 | BKRKY | Bank Rakyat | PairCorr |
| 0.66 | PBCRY | Bank Central Asia | PairCorr |
| 0.7 | PTBRY | Bank Negara Indonesia | PairCorr |
| 0.61 | SHG | Shinhan Financial | PairCorr |
| 0.65 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.83 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.83 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.78 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Moving against Independence Stock
| 0.87 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.85 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.85 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.82 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.82 | WMT | Walmart Aggressive Push | PairCorr |
| 0.77 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.73 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.7 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.62 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.52 | HPQ | HP Inc | PairCorr |
| 0.5 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.39 | KB | KB Financial Group | PairCorr |
Related Correlations Analysis
| 0.75 | -0.12 | 0.65 | 0.16 | FET | ||
| 0.75 | -0.42 | 0.25 | -0.09 | KLXE | ||
| -0.12 | -0.42 | 0.4 | 0.14 | TUSK | ||
| 0.65 | 0.25 | 0.4 | 0.4 | BORR | ||
| 0.16 | -0.09 | 0.14 | 0.4 | SDPI | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Independence Stock performing well and Independence Contract 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 Independence Contract'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FET | 1.60 | (0.36) | 0.00 | (0.19) | 0.00 | 3.52 | 11.03 | |||
| KLXE | 3.95 | (0.46) | 0.00 | (0.04) | 0.00 | 9.84 | 27.74 | |||
| TUSK | 2.30 | (0.26) | 0.00 | (0.05) | 0.00 | 6.63 | 25.08 | |||
| BORR | 2.46 | (0.87) | 0.00 | (0.48) | 0.00 | 4.02 | 12.96 | |||
| SDPI | 1.80 | (0.27) | 0.00 | 0.65 | 0.00 | 3.39 | 22.82 |
Independence Contract Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Independence Contract stock to make a market-neutral strategy. Peer analysis of Independence Contract could also be used in its relative valuation, which is a method of valuing Independence Contract by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Independence Contract Drilling?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.