Matador Resources Correlations

MTDR Stock

USD 59.19 1.72 2.82%

The current 90-days correlation between Matador Resources and Murphy Oil is 0.83 (i.e., Very poor diversification). The correlation of Matador Resources 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Matador Resources Correlation With Market

Weak diversification

The correlation between Matador Resources and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matador Resources 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 Matador Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

To learn how to invest in Matador Stock, please use our How to Invest in Matador Resources guide.

Moving together with Matador Stock

0.65	AR	Antero Resources Corp	Pair Corr
0.7	EP	Empire Petroleum Corp	Pair Corr
0.91	PR	Permian Resources Aggressive Push	Pair Corr
0.84	SM	SM Energy	Pair Corr
0.61	DMLP	Dorchester Minerals	Pair Corr
0.76	VTLE	Vital Energy	Pair Corr
0.65	BSM	Black Stone Minerals	Pair Corr
0.85	COP	ConocoPhillips Downward Rally	Pair Corr
0.77	CRC	California Resources Corp	Pair Corr
0.71	CRK	Comstock Resources	Pair Corr
0.83	DEC	Diversified Energy	Pair Corr
0.83	EOG	EOG Resources	Pair Corr
0.63	EQT	EQT Corporation	Pair Corr
0.76	HES	Hess	Pair Corr
0.77	MGY	Magnolia Oil Gas	Pair Corr
0.79	MRO	Marathon Oil	Pair Corr

Moving against Matador Stock

0.38	BRN	Barnwell Industries	Pair Corr
0.31	PED	PEDEVCO Corp	Pair Corr

Related Correlations Analysis

	MUR	CIVI	ESTE	SBOW	CPE	PR	AR	MGY	CHRD	PDCE
MUR		0.92	-0.37	-0.16	-0.34	0.07	-0.14	-0.13	0.93	-0.54	MUR
CIVI	0.92		-0.16	-0.24	-0.2	0.14	-0.18	-0.09	0.98	-0.55	CIVI
ESTE	-0.37	-0.16		-0.32	0.84	0.61	0.51	0.52	-0.18	0.57	ESTE
SBOW	-0.16	-0.24	-0.32		-0.22	-0.43	-0.28	-0.23	-0.26	-0.05	SBOW
CPE	-0.34	-0.2	0.84	-0.22		0.47	0.38	0.5	-0.21	0.7	CPE
PR	0.07	0.14	0.61	-0.43	0.47		0.85	0.91	0.11	0.52	PR
AR	-0.14	-0.18	0.51	-0.28	0.38	0.85		0.8	-0.19	0.64	AR
MGY	-0.13	-0.09	0.52	-0.23	0.5	0.91	0.8		-0.12	0.67	MGY
CHRD	0.93	0.98	-0.18	-0.26	-0.21	0.11	-0.19	-0.12		-0.56	CHRD
PDCE	-0.54	-0.55	0.57	-0.05	0.7	0.52	0.64	0.67	-0.56		PDCE
	MUR	CIVI	ESTE	SBOW	CPE	PR	AR	MGY	CHRD	PDCE

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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

CHRD	+ 0.98	CIVI
CHRD	+ 0.93	MUR
CIVI	+ 0.92	MUR
MGY	+ 0.91	PR
AR	+ 0.85	PR
CPE	+ 0.84	ESTE

High negative correlations

PDCE	- 0.56	CHRD
PDCE	- 0.55	CIVI
PDCE	- 0.54	MUR
PR	- 0.43	SBOW
ESTE	- 0.37	MUR
CPE	- 0.34	MUR

Risk-Adjusted Indicators

There is a big difference between Matador Stock performing well and Matador Resources 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 Matador Resources' 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
MUR	1.53	(0.27)	0.00	(0.14)	0.00	0.00	2.83	(3.67)	9.23
CIVI	1.65	(0.33)	0.00	(0.15)	0.00	0.00	2.92	(3.66)	8.85
ESTE	2.25	0.23	0.01	(0.24)	2.66	(2.41)	4.37	(4.80)	10.76
SBOW	1.58	0.16	0.05	0.38	1.86	(1.98)	3.59	(2.41)	15.61
CPE	2.33	0.11	(0.03)	(0.05)	3.03	(2.30)	4.32	(5.23)	12.38
PR	1.64	0.10	0.05	0.21	1.94	(1.79)	2.90	(3.33)	7.95
AR	1.85	0.20	0.09	0.29	2.04	(1.96)	4.91	(2.92)	13.54
MGY	1.58	0.08	0.06	0.18	1.98	(1.63)	2.89	(3.67)	8.54
CHRD	1.31	(0.26)	0.00	(0.15)	0.00	0.00	2.40	(3.34)	7.36
PDCE	1.42	0.20	0.04	(3.89)	1.64	(1.51)	2.84	(2.49)	9.74

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