KLX Energy Correlations

KLXE Stock

USD 6.65 0.06 0.89%

The current 90-days correlation between KLX Energy Services and RPC Inc is 0.53 (i.e., Very weak diversification). The correlation of KLX 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.

KLX Energy Correlation With Market

Good diversification

The correlation between KLX Energy Services and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KLX Energy Services and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in KLX Energy Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with KLX Stock

0.85	VTOL	Bristow Group	Pair Corr
0.7	WTTR	Select Energy Services	Pair Corr
0.76	BKR	Baker Hughes Earnings Call This Week	Pair Corr
0.64	CHX	ChampionX Buyout Trend	Pair Corr
0.61	CLB	Core Laboratories	Pair Corr
0.78	HAL	Halliburton Earnings Call This Week	Pair Corr
0.81	MRC	MRC Global	Pair Corr
0.61	NOV	NOV Inc	Pair Corr
0.76	OII	Oceaneering International	Pair Corr
0.83	OIS	Oil States International	Pair Corr
0.63	SLB	Schlumberger NV Buyout Trend	Pair Corr
0.76	SND	Smart Sand	Pair Corr
0.75	TTI	Tetra Technologies Trending	Pair Corr
0.76	WHD	Cactus Inc	Pair Corr
0.82	INVX	Innovex International, Symbol Change	Pair Corr
0.67	NINE	Nine Energy Service	Pair Corr

Moving against KLX Stock

0.73	ENSV	Enservco	Pair Corr
0.31	DWSN	Dawson Geophysical	Pair Corr

Related Correlations Analysis

	ENSV	SDPI	NEX	RES	PUMP	RNGR	SOI	SLCA	FTK	LBRT
ENSV		0.59	-0.25	-0.28	-0.31	-0.73	-0.48	0.27	-0.51	-0.29	ENSV
SDPI	0.59		-0.54	-0.49	-0.52	-0.39	-0.14	-0.01	-0.25	-0.56	SDPI
NEX	-0.25	-0.54		0.35	0.9	0.52	0.45	-0.05	0.64	0.85	NEX
RES	-0.28	-0.49	0.35		0.45	0.28	0.0	-0.12	0.09	0.64	RES
PUMP	-0.31	-0.52	0.9	0.45		0.59	0.52	-0.18	0.7	0.91	PUMP
RNGR	-0.73	-0.39	0.52	0.28	0.59		0.82	-0.55	0.87	0.46	RNGR
SOI	-0.48	-0.14	0.45	0.0	0.52	0.82		-0.59	0.89	0.31	SOI
SLCA	0.27	-0.01	-0.05	-0.12	-0.18	-0.55	-0.59		-0.52	-0.04	SLCA
FTK	-0.51	-0.25	0.64	0.09	0.7	0.87	0.89	-0.52		0.51	FTK
LBRT	-0.29	-0.56	0.85	0.64	0.91	0.46	0.31	-0.04	0.51		LBRT
	ENSV	SDPI	NEX	RES	PUMP	RNGR	SOI	SLCA	FTK	LBRT

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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

LBRT	+ 0.91	PUMP
PUMP	+ 0.9	NEX
FTK	+ 0.89	SOI
FTK	+ 0.87	RNGR
LBRT	+ 0.85	NEX
SOI	+ 0.82	RNGR

High negative correlations

RNGR	- 0.73	ENSV
SLCA	- 0.59	SOI
LBRT	- 0.56	SDPI
SLCA	- 0.55	RNGR
NEX	- 0.54	SDPI
FTK	- 0.52	SLCA

Risk-Adjusted Indicators

There is a big difference between KLX Stock performing well and KLX 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 KLX 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
ENSV	5.50	(1.27)	0.00	0.43	0.00	0.00	9.09	(8.33)	69.74
SDPI	1.80	(0.33)	0.00	1.27	0.00	0.00	3.39	(3.68)	22.82
NEX	2.68	0.56	0.15	(0.92)	2.99	(2.86)	6.33	(4.55)	17.50
RES	1.95	0.03	0.01	0.06	2.53	(2.19)	4.40	(4.21)	18.40
PUMP	2.62	0.48	0.17	1.48	2.32	(3.16)	5.79	(4.38)	22.30
RNGR	1.60	0.53	0.26	0.69	1.57	(1.95)	4.42	(2.46)	11.52
SOI	2.52	0.59	0.22	(2.24)	2.11	(3.13)	4.44	(4.19)	43.08
SLCA	0.18	(0.01)	0.00	0.22	0.00	0.00	0.39	(0.52)	1.62
FTK	3.20	0.97	0.40	0.44	2.01	(4.45)	9.10	(4.14)	27.83
LBRT	2.13	0.18	0.06	0.37	2.58	(2.40)	5.24	(3.37)	14.86

KLX Energy Corporate Executives

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

Keefer Lehner

Executive CFO

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