MRC Global Correlations

MRC Stock

USD 14.06 0.07 0.50%

The current 90-days correlation between MRC Global and Dril Quip is 0.1 (i.e., Average diversification). The correlation of MRC Global 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.

MRC Global Correlation With Market

Poor diversification

The correlation between MRC Global and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MRC Global 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 MRC Global. 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 information on how to trade MRC Stock refer to our How to Trade MRC Stock guide.

Moving together with MRC Stock

0.72	TS	Tenaris SA ADR	Pair Corr
0.7	VTOL	Bristow Group	Pair Corr
0.7	EFXT	Enerflex	Pair Corr
0.9	WTTR	Select Energy Services	Pair Corr
0.82	BKR	Baker Hughes Fiscal Year End 28th of January 2025	Pair Corr
0.65	CHX	ChampionX Sell-off Trend	Pair Corr
0.83	CLB	Core Laboratories	Pair Corr
0.86	FTI	TechnipFMC PLC	Pair Corr
0.74	FTK	Flotek Industries	Pair Corr
0.67	HAL	Halliburton Fiscal Year End 28th of January 2025	Pair Corr
0.73	KGS	Kodiak Gas Services,	Pair Corr
0.87	NGS	Natural Gas Services	Pair Corr
0.69	NOA	North American Const	Pair Corr
0.93	OII	Oceaneering International	Pair Corr
0.82	OIS	Oil States International	Pair Corr
0.79	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.66	SLB	Schlumberger NV Aggressive Push	Pair Corr
0.74	SND	Smart Sand	Pair Corr
0.82	TTI	Tetra Technologies	Pair Corr
0.85	WHD	Cactus Inc	Pair Corr
0.7	GEOS	Geospace Technologies	Pair Corr
0.65	INVX	Innovex International, Symbol Change	Pair Corr

Moving against MRC Stock

0.58	NESRW	National Energy Services	Pair Corr
0.45	NESR	National Energy Services	Pair Corr
0.34	RCON	Recon Technology	Pair Corr

Related Correlations Analysis

	DRQ	NOV	SOI	RNGR	OIS	CCLP	GEOS	NOA	NGS	XPRO
DRQ		0.55	-0.63	-0.46	0.14	-0.14	-0.62	0.0	-0.26	0.78	DRQ
NOV	0.55		-0.47	-0.01	0.65	-0.13	-0.21	0.42	0.27	0.65	NOV
SOI	-0.63	-0.47		0.32	-0.01	-0.35	0.49	0.13	0.17	-0.56	SOI
RNGR	-0.46	-0.01	0.32		0.67	-0.19	0.87	0.63	0.92	-0.68	RNGR
OIS	0.14	0.65	-0.01	0.67		-0.36	0.44	0.8	0.81	-0.01	OIS
CCLP	-0.14	-0.13	-0.35	-0.19	-0.36		-0.11	-0.29	-0.24	0.1	CCLP
GEOS	-0.62	-0.21	0.49	0.87	0.44	-0.11		0.5	0.72	-0.79	GEOS
NOA	0.0	0.42	0.13	0.63	0.8	-0.29	0.5		0.6	-0.2	NOA
NGS	-0.26	0.27	0.17	0.92	0.81	-0.24	0.72	0.6		-0.43	NGS
XPRO	0.78	0.65	-0.56	-0.68	-0.01	0.1	-0.79	-0.2	-0.43		XPRO
	DRQ	NOV	SOI	RNGR	OIS	CCLP	GEOS	NOA	NGS	XPRO

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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	+ 0.92	RNGR
GEOS	+ 0.87	RNGR
NGS	+ 0.81	OIS
NOA	+ 0.8	OIS
XPRO	+ 0.78	DRQ
NGS	+ 0.72	GEOS

High negative correlations

XPRO	- 0.79	GEOS
XPRO	- 0.68	RNGR
SOI	- 0.63	DRQ
GEOS	- 0.62	DRQ
XPRO	- 0.56	SOI
SOI	- 0.47	NOV

Risk-Adjusted Indicators

There is a big difference between MRC Stock performing well and MRC Global 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 MRC Global'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
DRQ	1.89	(0.15)	0.00	(0.23)	0.00	0.00	3.57	(4.30)	12.98
NOV	1.25	(0.22)	0.00	(0.05)	0.00	0.00	2.86	(2.72)	10.91
SOI	2.52	0.57	0.18	4.47	2.11	(3.13)	4.44	(4.19)	43.08
RNGR	1.40	0.47	0.26	0.75	1.17	(1.61)	3.56	(2.21)	7.27
OIS	2.43	0.03	0.04	0.14	2.68	(2.83)	5.26	(4.37)	15.23
CCLP	2.66	(0.03)	0.00	0.77	0.00	0.00	8.11	(4.35)	17.49
GEOS	2.39	0.07	0.05	0.15	3.79	(2.52)	4.79	(3.88)	16.83
NOA	1.64	0.10	0.02	0.34	2.17	(1.76)	3.37	(2.99)	15.73
NGS	2.26	0.26	0.16	0.25	2.12	(2.76)	4.58	(3.04)	13.49
XPRO	2.11	(0.83)	0.00	(0.20)	0.00	0.00	4.03	(4.86)	15.49

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