Murphy Oil Correlations

MUR Stock

USD 33.62 0.72 2.19%

The current 90-days correlation between Murphy Oil and California Resources Corp is 0.66 (i.e., Poor diversification). The correlation of Murphy Oil 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.

Murphy Oil Correlation With Market

Very weak diversification

The correlation between Murphy Oil and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Murphy Oil and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Murphy Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Murphy 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 population.

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

Moving against Murphy Stock

0.41	VIVK	Vivakor	Pair Corr
0.33	WCAT	Wildcat Petroleum Plc	Pair Corr
0.52	EW	East West Petroleum	Pair Corr
0.48	CGO	Contango Holdings PLC	Pair Corr
0.33	EONR	EON Resources	Pair Corr

Related Correlations Analysis

	CRC	MGY	VVV	VAL	PBF	CVI	GPOR	ENPH	AROC	UGP
CRC		0.97	0.91	0.8	0.48	-0.34	0.04	0.77	0.68	0.95	CRC
MGY	0.97		0.9	0.79	0.45	-0.34	0.13	0.78	0.64	0.94	MGY
VVV	0.91	0.9		0.83	0.43	-0.38	-0.07	0.83	0.78	0.91	VVV
VAL	0.8	0.79	0.83		0.41	-0.15	0.12	0.59	0.6	0.73	VAL
PBF	0.48	0.45	0.43	0.41		0.44	0.24	0.05	0.1	0.41	PBF
CVI	-0.34	-0.34	-0.38	-0.15	0.44		0.65	-0.71	-0.65	-0.48	CVI
GPOR	0.04	0.13	-0.07	0.12	0.24	0.65		-0.28	-0.31	-0.08	GPOR
ENPH	0.77	0.78	0.83	0.59	0.05	-0.71	-0.28		0.8	0.82	ENPH
AROC	0.68	0.64	0.78	0.6	0.1	-0.65	-0.31	0.8		0.74	AROC
UGP	0.95	0.94	0.91	0.73	0.41	-0.48	-0.08	0.82	0.74		UGP
	CRC	MGY	VVV	VAL	PBF	CVI	GPOR	ENPH	AROC	UGP

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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

MGY	+ 0.97	CRC
UGP	+ 0.95	CRC
UGP	+ 0.94	MGY
VVV	+ 0.91	CRC
UGP	+ 0.91	VVV
VVV	+ 0.9	MGY

High negative correlations

ENPH	- 0.71	CVI
AROC	- 0.65	CVI
UGP	- 0.48	CVI
CVI	- 0.38	VVV
CVI	- 0.34	MGY
CVI	- 0.34	CRC

Risk-Adjusted Indicators

There is a big difference between Murphy Stock performing well and Murphy 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 Murphy 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
CRC	1.59	0.28	0.12	0.54	1.69	(1.72)	3.61	(3.17)	8.47
MGY	1.43	0.27	0.13	0.63	1.50	(1.57)	3.08	(2.92)	8.43
VVV	1.62	0.26	0.15	0.29	1.45	(1.89)	3.83	(2.86)	10.00
VAL	2.73	0.85	0.30	0.71	2.12	(3.21)	7.22	(4.78)	39.09
PBF	2.74	(0.17)	0.00	(0.31)	0.00	0.00	5.20	(5.87)	19.72
CVI	2.05	(0.72)	0.00	(0.90)	0.00	0.00	3.78	(4.46)	19.04
GPOR	1.69	0.00	(0.02)	0.00	2.53	(1.70)	3.11	(4.05)	11.99
ENPH	3.01	0.41	0.15	0.23	3.03	(3.65)	5.30	(5.86)	47.12
AROC	1.29	0.26	0.11	(0.65)	1.38	(1.43)	2.68	(2.44)	6.67
UGP	1.81	0.31	0.12	0.35	2.31	(1.98)	3.25	(2.79)	13.99

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