Marathon Oil Correlations

Summary

MRODelisted Stock

USD 28.55 0.56 1.92%

The current 90-days correlation between Marathon Oil and Diamondback Energy is 0.23 (i.e., Modest 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.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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.

Moving against Marathon Stock

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0.56	SOUN	SoundHound AI	Pair Corr
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0.49	GOOGL	Alphabet Class A	Pair Corr
0.46	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.36	WSM	Williams Sonoma	Pair Corr
0.35	ROCL	Roth CH Acquisition	Pair Corr
0.53	FWONK	Liberty Media	Pair Corr
0.46	WMT	Walmart	Pair Corr
0.45	QBTS	D Wave Quantum	Pair Corr
0.43	KODK	Eastman Kodak	Pair Corr
0.43	AVGO	Broadcom Aggressive Push	Pair Corr
0.38	TATT	Tat Techno	Pair Corr
0.35	ACHR	Archer Aviation	Pair Corr
0.34	AAL	American Airlines Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EOG	FANG	HES	DVN	PXD	CTRA	OXY	COP	PR
EOG		0.6	0.92	0.48	0.0	0.75	0.55	0.71	0.87	EOG
FANG	0.6		0.63	0.96	0.0	0.15	0.86	0.81	0.29	FANG
HES	0.92	0.63		0.55	0.0	0.68	0.53	0.72	0.84	HES
DVN	0.48	0.96	0.55		0.0	-0.02	0.78	0.78	0.13	DVN
PXD	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	PXD
CTRA	0.75	0.15	0.68	-0.02	0.0		0.35	0.18	0.88	CTRA
OXY	0.55	0.86	0.53	0.78	0.0	0.35		0.56	0.32	OXY
COP	0.71	0.81	0.72	0.78	0.0	0.18	0.56		0.44	COP
PR	0.87	0.29	0.84	0.13	0.0	0.88	0.32	0.44		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

DVN	+ 0.96	FANG
HES	+ 0.92	EOG
PR	+ 0.88	CTRA
PR	+ 0.87	EOG
OXY	+ 0.86	FANG
PR	+ 0.84	HES

High negative correlations

CTRA	- 0.02	DVN
PR	- 0.0	PXD
COP	- 0.0	PXD
OXY	- 0.0	PXD
CTRA	- 0.0	PXD
PXD	- 0.0	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	1.03	0.08	0.04	0.47	1.20	(1.06)	2.30	(1.72)	9.26
FANG	1.39	(0.07)	0.00	0.60	0.00	0.00	2.25	(3.19)	7.94
HES	0.92	0.12	0.07	0.87	1.30	(0.89)	1.98	(2.22)	5.93
DVN	1.40	(0.17)	0.00	(0.80)	0.00	0.00	2.39	(3.33)	5.99
PXD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CTRA	1.34	0.30	0.16	1.68	1.39	(1.41)	3.02	(2.37)	8.46
OXY	1.11	(0.05)	0.00	(0.39)	0.00	0.00	1.99	(2.18)	5.04
COP	1.02	(0.04)	0.00	(0.19)	0.00	0.00	2.14	(2.40)	11.42
PR	1.51	0.19	0.09	0.47	1.86	(1.63)	2.90	(3.27)	8.87

Marathon Oil 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 Marathon Oil stock to make a market-neutral strategy. Peer analysis of Marathon Oil could also be used in its relative valuation, which is a method of valuing Marathon Oil by comparing valuation metrics with similar companies.

EOG Resources Diamondback Energy Hess Corporation Devon Energy Pioneer Natural Resources Coterra Energy Occidental Petroleum ConocoPhillips Permian Resources American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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Still Interested in Marathon Oil?

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.

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