Nabors Energy Correlations

NETDWDelisted Stock

0 0.0002 13.33%

The current 90-days correlation between Nabors Energy Transition and CO2 Energy Transition is -0.14 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Nabors Energy Correlation With Market

Pay attention - limited upside

The correlation between Nabors Energy Transition and DJI is -0.78 (i.e., Pay attention - limited upside) 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 small area income & poverty estimates.

Moving together with Nabors Stock

0.77	HPQ	HP Inc	Pair Corr
0.73	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against Nabors Stock

0.87	AA	Alcoa Corp	Pair Corr
0.83	MRK	Merck Company	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.76	WMT	Walmart Common Stock	Pair Corr
0.74	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.69	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.63	BAC	Bank of America	Pair Corr
0.61	BA	Boeing Earnings Call This Week	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr
0.57	AXP	American Express Earnings Call This Week	Pair Corr
0.48	LNDNF	Lundin Energy AB	Pair Corr
0.48	GE	GE Aerospace	Pair Corr
0.4	CSCO	Cisco Systems	Pair Corr
0.4	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	IBAC	FVN	GLLI	MSAI	RIBBR	BAYA	WTG	KVAC	AQU	NOEM
IBAC		0.41	0.03	-0.62	-0.19	0.63	0.67	0.57	-0.2	0.26	IBAC
FVN	0.41		-0.07	-0.41	-0.04	0.57	0.66	0.56	0.24	0.43	FVN
GLLI	0.03	-0.07		-0.21	0.09	0.32	0.22	0.03	0.0	0.08	GLLI
MSAI	-0.62	-0.41	-0.21		0.23	-0.74	-0.75	-0.71	0.23	-0.58	MSAI
RIBBR	-0.19	-0.04	0.09	0.23		-0.12	-0.13	-0.16	0.44	-0.12	RIBBR
BAYA	0.63	0.57	0.32	-0.74	-0.12		0.88	0.78	-0.12	0.66	BAYA
WTG	0.67	0.66	0.22	-0.75	-0.13	0.88		0.79	-0.04	0.7	WTG
KVAC	0.57	0.56	0.03	-0.71	-0.16	0.78	0.79		-0.14	0.58	KVAC
AQU	-0.2	0.24	0.0	0.23	0.44	-0.12	-0.04	-0.14		-0.05	AQU
NOEM	0.26	0.43	0.08	-0.58	-0.12	0.66	0.7	0.58	-0.05		NOEM
	IBAC	FVN	GLLI	MSAI	RIBBR	BAYA	WTG	KVAC	AQU	NOEM

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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

WTG	+ 0.88	BAYA
KVAC	+ 0.79	WTG
KVAC	+ 0.78	BAYA
NOEM	+ 0.7	WTG
WTG	+ 0.67	IBAC
WTG	+ 0.66	FVN

High negative correlations

WTG	- 0.75	MSAI
BAYA	- 0.74	MSAI
KVAC	- 0.71	MSAI
MSAI	- 0.62	IBAC
NOEM	- 0.58	MSAI
MSAI	- 0.41	FVN

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
IBAC	0.10	0.00	(0.30)	(0.03)	0.10	(0.24)	0.38	(0.29)	0.95
FVN	0.11	0.01	(0.22)	0.39	0.00	(0.27)	0.38	(0.38)	1.33
GLLI	3.40	(1.08)	0.00	0.51	0.00	0.00	4.17	(4.25)	89.30
MSAI	10.71	0.45	0.05	0.25	12.30	(12.91)	22.58	(19.79)	133.82
RIBBR	8.20	0.64	0.03	6.72	10.43	(14.91)	20.00	(25.00)	104.48
BAYA	0.45	0.04	(0.06)	(0.45)	0.52	(0.93)	1.89	(1.18)	4.21
WTG	0.06	0.01	(0.48)	(0.33)	0.00	(0.22)	0.30	(0.10)	0.59
KVAC	0.23	0.02	(0.13)	(0.26)	0.23	(0.79)	0.94	(0.60)	3.05
AQU	0.54	0.06	(0.03)	(0.26)	0.91	(1.25)	1.83	(1.46)	10.45
NOEM	0.11	0.01	(0.27)	(2.68)	0.00	(0.27)	0.39	(0.29)	1.25

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.

IB Acquisition Corp Future Vision II Globalink Investment Infrared Cameras Holdings Ribbon Acquisition Corp Bayview Acquisition Corp Wintergreen Acquisition Corp Keen Vision Acquisition Aquaron Acquisition Corp CO2 Energy Transition American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Still Interested in Nabors Energy Transition?

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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