Nabors Energy Correlations

NETDDelisted Stock

11.52 0.06 0.52%

The current 90-days correlation between Nabors Energy Transition and Agriculture Natural Solutions is -0.25 (i.e., Very good diversification). The correlation of Nabors 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.

Nabors Energy Correlation With Market

Very weak diversification

The correlation between Nabors Energy Transition and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nabors Energy Transition and DJI in the same portfolio, assuming nothing else is changed.

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 child.

Moving together with Nabors Stock

0.67	FUWAF	Furukawa Electric	Pair Corr
0.73	CVX	Chevron Corp	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.64	JNJ	Johnson Johnson	Pair Corr
0.67	BA	Boeing	Pair Corr

Moving against Nabors Stock

0.69	NDEKY	Nitto Denko Corp	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.51	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	ANSC	GPAT	UMAC	ALF	TACO	KFII	AAM	RDAG	EQV
ANSC		0.7	0.6	0.71	-0.17	0.84	0.63	-0.53	0.63	ANSC
GPAT	0.7		0.73	0.77	0.0	0.67	0.63	-0.14	0.67	GPAT
UMAC	0.6	0.73		0.6	0.2	0.43	0.54	-0.04	0.68	UMAC
ALF	0.71	0.77	0.6		-0.08	0.78	0.65	-0.03	0.64	ALF
TACO	-0.17	0.0	0.2	-0.08		-0.18	-0.21	0.45	0.18	TACO
KFII	0.84	0.67	0.43	0.78	-0.18		0.63	-0.34	0.5	KFII
AAM	0.63	0.63	0.54	0.65	-0.21	0.63		-0.29	0.3	AAM
RDAG	-0.53	-0.14	-0.04	-0.03	0.45	-0.34	-0.29		-0.02	RDAG
EQV	0.63	0.67	0.68	0.64	0.18	0.5	0.3	-0.02		EQV
	ANSC	GPAT	UMAC	ALF	TACO	KFII	AAM	RDAG	EQV

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

KFII	+ 0.84	ANSC
KFII	+ 0.78	ALF
ALF	+ 0.77	GPAT
UMAC	+ 0.73	GPAT
ALF	+ 0.71	ANSC
GPAT	+ 0.7	ANSC

High negative correlations

RDAG	- 0.53	ANSC
RDAG	- 0.34	KFII
RDAG	- 0.29	AAM
AAM	- 0.21	TACO
KFII	- 0.18	TACO
TACO	- 0.17	ANSC

Risk-Adjusted Indicators

There is a big difference between Nabors Stock performing well and Nabors 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 Nabors 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ANSC	0.07	0.01	(0.25)	(1.43)	0.00	(0.15)	0.18	(0.18)	0.54
GPAT	0.08	0.00	(0.17)	0.06	0.00	(0.19)	0.19	(0.19)	0.94
UMAC	5.94	0.06	0.02	0.07	6.76	(6.15)	13.49	(10.07)	30.27
ALF	0.11	0.01	(0.19)	0.77	0.00	(0.19)	0.38	(0.28)	0.85
TACO	0.16	(0.07)	0.00	(5.89)	0.00	0.00	0.20	(0.29)	3.68
KFII	0.10	0.02	(0.12)	(0.47)	0.00	(0.29)	0.39	(0.19)	0.97
AAM	0.16	0.00	(0.15)	0.04	0.16	(0.22)	0.38	(0.38)	0.94
RDAG	0.13	(0.01)	0.00	1.35	0.00	0.00	0.29	(0.39)	1.18
EQV	0.11	0.00	(0.21)	0.63	0.14	(0.17)	0.29	(0.19)	1.34

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

Agriculture Natural Solutions GP Act III Acquisition Unusual Machines Centurion Acquisition Corp Berto Acquisition Corp KF Growth Acquisition AA Mission Acquisition Republic Digital Acquisition EQV Ventures Acquisition American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Still Interested in Nabors Energy Transition?

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