Mexco Energy Correlations

MXC Stock  USD 11.97  0.15  1.24%   
The current 90-days correlation between Mexco Energy and XXL Energy Corp is -0.04 (i.e., Good diversification). The correlation of Mexco Energy 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.

Mexco Energy Correlation With Market

Good diversification

The correlation between Mexco Energy and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mexco Energy 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 Mexco Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.
For information on how to trade Mexco Stock refer to our How to Trade Mexco Stock guide.

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
PNRGPHX
PVLXLEFF
VOCPHX
PNRGVOC
GPRKPVL
CHKELXLEFF
  
High negative correlations   
CHKELVOC
PNRGCHKEL
PNRGXLEFF
CHKELPHX
PNRGPVL
VOCXLEFF

Risk-Adjusted Indicators

There is a big difference between Mexco Stock performing well and Mexco Energy 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 Mexco Energy'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PHX  1.13  0.21  0.05  6.94  1.38 
 2.19 
 13.02 
GRNT  1.50  0.01  0.02  0.13  1.79 
 2.76 
 8.43 
XLEFF  2.95 (1.62) 0.00 (1.63) 0.00 
 0.00 
 99.00 
COCBF  3.01  0.93  0.00 (0.50) 0.00 
 0.00 
 150.00 
PVL  1.54 (0.32) 0.00 (0.24) 0.00 
 3.38 
 12.07 
VOC  1.55  0.05 (0.01) 0.27  2.27 
 2.78 
 11.00 
GPRK  2.02 (0.06)(0.04) 0.04  2.41 
 4.46 
 11.99 
SBOW  1.58  0.16  0.05  0.38  1.86 
 3.59 
 15.61 
CHKEL  0.94 (0.07) 0.00 (0.25) 0.00 
 2.67 
 13.61 
PNRG  2.46  0.57  0.26  0.52  1.97 
 5.88 
 12.61