Natural Resource Correlations

NRP Stock

USD 125.41 1.89 1.53%

The current 90-days correlation between Natural Resource Partners and Innovex International is 0.28 (i.e., Modest diversification). The correlation of Natural Resource 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.

Natural Resource Correlation With Market

Poor diversification

The correlation between Natural Resource Partners and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Natural Resource Partners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Natural Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Natural Resource Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Natural Stock

0.86	E	Eni SpA ADR	Pair Corr
0.88	EC	Ecopetrol SA ADR	Pair Corr
0.95	SU	Suncor Energy	Pair Corr
0.73	YZC	Yanzhou Coal Mining	Pair Corr
0.68	21Y	FIDELITY CN SPSITREG	Pair Corr
0.85	ECHA	Ecopetrol SA	Pair Corr
0.77	0LZ	Yellow Cake plc	Pair Corr
0.68	MEU	Marmota	Pair Corr
0.85	OMV	OMV Aktiengesellschaft	Pair Corr
0.75	BPFG	BANPU PCL FGN	Pair Corr
0.76	GV9	ENTERPRISE FINL DL	Pair Corr
0.83	1QR	IMPAX ENVIRONMTL MKTS	Pair Corr
0.83	1R4	LAW DEBENTURE PLS	Pair Corr
0.89	EQNR	Equinor ASA ADR	Pair Corr

Moving against Natural Stock

0.88	0R4P	Lifco AB Series	Pair Corr
0.49	0IVB	Innelec Multimedia	Pair Corr
0.47	0L9Z	Kabe Group AB	Pair Corr
0.41	BLZ	BLAZE Minerals	Pair Corr
0.4	9OC	Oracle Power plc	Pair Corr
0.8	L0MA	NEXTLEAF SOLUTIONS	Pair Corr
0.56	7GE	Geo Energy Resources	Pair Corr
0.44	SLT	SCHALTBAU HOLDING	Pair Corr
0.33	H7H	Hallador Energy	Pair Corr

Related Correlations Analysis

	INVX	FLOC	METC	FLNG	VTOL	KRP	WKC	GLP	VET	ARRY
INVX		0.84	0.27	0.69	0.83	0.43	0.75	0.77	0.68	0.69	INVX
FLOC	0.84		0.22	0.54	0.87	0.39	0.83	0.77	0.65	0.89	FLOC
METC	0.27	0.22		0.42	0.4	0.23	0.49	-0.03	0.12	0.31	METC
FLNG	0.69	0.54	0.42		0.68	0.51	0.72	0.53	0.55	0.4	FLNG
VTOL	0.83	0.87	0.4	0.68		0.66	0.85	0.8	0.81	0.82	VTOL
KRP	0.43	0.39	0.23	0.51	0.66		0.4	0.67	0.89	0.31	KRP
WKC	0.75	0.83	0.49	0.72	0.85	0.4		0.57	0.5	0.72	WKC
GLP	0.77	0.77	-0.03	0.53	0.8	0.67	0.57		0.87	0.66	GLP
VET	0.68	0.65	0.12	0.55	0.81	0.89	0.5	0.87		0.55	VET
ARRY	0.69	0.89	0.31	0.4	0.82	0.31	0.72	0.66	0.55		ARRY
	INVX	FLOC	METC	FLNG	VTOL	KRP	WKC	GLP	VET	ARRY

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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

ARRY	+ 0.89	FLOC
VET	+ 0.89	KRP
VTOL	+ 0.87	FLOC
VET	+ 0.87	GLP
WKC	+ 0.85	VTOL
FLOC	+ 0.84	INVX

High negative correlations

GLP

- 0.03

METC

Risk-Adjusted Indicators

There is a big difference between Natural Stock performing well and Natural Resource 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 Natural Resource'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
INVX	1.89	0.25	0.11	0.43	1.73	(2.17)	4.96	(3.41)	12.82
FLOC	1.82	0.32	0.17	0.28	1.69	(2.06)	4.34	(3.23)	10.96
METC	4.87	(0.52)	0.00	(0.32)	0.00	0.00	8.71	(11.56)	29.80
FLNG	1.00	0.00	0.00	0.04	0.00	0.00	2.09	(2.00)	6.12
VTOL	1.42	0.18	0.10	0.24	1.63	(1.54)	3.37	(2.79)	7.10
KRP	1.23	0.10	0.03	9.67	1.63	(1.24)	2.40	(2.41)	6.29
WKC	1.49	0.04	0.02	0.10	2.13	(1.51)	2.94	(3.69)	11.51
GLP	1.47	0.29	0.14	1.08	1.47	(1.61)	3.06	(2.67)	9.16
VET	2.22	0.23	0.07	0.49	2.54	(2.36)	5.04	(4.57)	12.04
ARRY	3.76	0.23	0.07	0.14	4.22	(3.94)	6.80	(6.99)	18.16

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