Marathon Oil Correlations

MRO Stock

USD 28.55 0.37 1.28%

The current 90-days correlation between Marathon Oil and Diamondback Energy is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Marathon Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Marathon Oil moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Marathon Oil Correlation With Market

Modest diversification

The correlation between Marathon Oil and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Marathon Oil 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 Marathon Oil. 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.

To learn how to invest in Marathon Stock, please use our How to Invest in Marathon Oil guide.

Moving together with Marathon Stock

0.84	PR	Permian Resources Aggressive Push	Pair Corr
0.75	SM	SM Energy	Pair Corr
0.66	VTLE	Vital Energy	Pair Corr
0.62	FANG	Diamondback Energy	Pair Corr
0.62	BSM	Black Stone Minerals	Pair Corr
1.0	COP	ConocoPhillips	Pair Corr
0.67	CRC	California Resources Corp	Pair Corr
0.66	DEC	Diversified Energy	Pair Corr
0.83	EOG	EOG Resources	Pair Corr
0.69	HES	Hess	Pair Corr
0.69	MGY	Magnolia Oil Gas	Pair Corr

Moving against Marathon Stock

0.46

CKX

CKX Lands

Pair Corr

Related Correlations Analysis

	EOG	FANG	HES	DVN	PXD	CTRA	OXY	COP	PR
EOG		0.52	0.86	0.12	0.3	0.9	0.19	0.8	0.93	EOG
FANG	0.52		0.36	0.83	0.36	0.35	0.85	0.64	0.49	FANG
HES	0.86	0.36		-0.1	0.25	0.85	0.01	0.65	0.86	HES
DVN	0.12	0.83	-0.1		0.32	-0.05	0.95	0.38	0.08	DVN
PXD	0.3	0.36	0.25	0.32		0.37	0.35	0.48	0.45	PXD
CTRA	0.9	0.35	0.85	-0.05	0.37		0.07	0.71	0.9	CTRA
OXY	0.19	0.85	0.01	0.95	0.35	0.07		0.46	0.17	OXY
COP	0.8	0.64	0.65	0.38	0.48	0.71	0.46		0.82	COP
PR	0.93	0.49	0.86	0.08	0.45	0.9	0.17	0.82		PR
	EOG	FANG	HES	DVN	PXD	CTRA	OXY	COP	PR

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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

OXY	+ 0.95	DVN
PR	+ 0.93	EOG
CTRA	+ 0.9	EOG
PR	+ 0.9	CTRA
HES	+ 0.86	EOG
PR	+ 0.86	HES

High negative correlations

DVN	- 0.1	HES
CTRA	- 0.05	DVN

Risk-Adjusted Indicators

There is a big difference between Marathon Stock performing well and Marathon Oil 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 Marathon Oil'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
EOG	1.16	0.08	0.04	0.18	1.36	(1.18)	2.49	(2.88)	7.05
FANG	1.63	(0.11)	0.00	(0.06)	0.00	0.00	3.00	(3.91)	9.60
HES	0.94	0.06	0.03	0.16	1.21	(0.95)	2.25	(2.31)	5.16
DVN	1.26	(0.25)	0.00	(0.28)	0.00	0.00	2.17	(2.95)	7.21
PXD	1.23	(0.06)	0.00	(0.14)	0.00	0.00	2.43	(2.71)	6.32
CTRA	1.11	0.11	0.06	0.23	1.25	(1.17)	2.11	(1.94)	8.03
OXY	1.12	(0.19)	0.00	(0.25)	0.00	0.00	2.04	(2.77)	7.68
COP	1.24	0.01	(0.01)	0.11	1.51	(1.35)	2.59	(3.24)	7.92
PR	1.59	0.06	0.03	0.14	1.90	(1.75)	2.70	(3.33)	7.95

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