Profire Ene Correlations

PFIE Stock

USD 2.52 0.01 0.40%

The current 90-days correlation between Profire Ene and Nine Energy Service is -0.02 (i.e., Good diversification). The correlation of Profire Ene 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.

Profire Ene Correlation With Market

Good diversification

The correlation between Profire Ene and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Profire Ene and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Profire Ene. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For information on how to trade Profire Stock refer to our How to Trade Profire Stock guide.

Moving together with Profire Stock

0.82	TS	Tenaris SA ADR	Pair Corr
0.79	EFXT	Enerflex	Pair Corr
0.69	WTTR	Select Energy Services	Pair Corr
0.85	BKR	Baker Hughes Fiscal Year End 28th of January 2025	Pair Corr
0.72	CLB	Core Laboratories	Pair Corr
0.66	FTI	TechnipFMC PLC	Pair Corr
0.77	FTK	Flotek Industries	Pair Corr
0.8	KGS	Kodiak Gas Services,	Pair Corr
0.61	MRC	MRC Global	Pair Corr
0.69	NGS	Natural Gas Services	Pair Corr
0.76	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.73	SND	Smart Sand	Pair Corr
0.79	TTI	Tetra Technologies	Pair Corr
0.73	SUBCY	Subsea 7 SA	Pair Corr
0.61	WHD	Cactus Inc	Pair Corr
0.87	GEOS	Geospace Technologies	Pair Corr

Moving against Profire Stock

0.78	XPRO	Expro Group Holdings	Pair Corr
0.68	TDW	Tidewater	Pair Corr
0.59	DTI	Drilling Tools Inter	Pair Corr
0.46	RES	RPC Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.45	WFRD	Weatherford International	Pair Corr
0.38	FET	Forum Energy Technologies	Pair Corr
0.76	BOOM	Dmc Global	Pair Corr
0.76	BP	BP PLC ADR	Pair Corr
0.75	DINO	HF Sinclair Corp	Pair Corr
0.71	EC	Ecopetrol SA ADR	Pair Corr
0.67	LBRT	Liberty Oilfield Services Fiscal Year End 22nd of January 2025	Pair Corr
0.62	VAL	Valaris	Pair Corr
0.61	RCON	Recon Technology	Pair Corr
0.56	E	Eni SpA ADR	Pair Corr

Related Correlations Analysis

	ENSV	NINE	EFXT	GEOS	NGS	DRQ	FET	CCLP	MRC	NOA
ENSV		-0.15	-0.45	-0.21	-0.24	0.12	0.28	0.45	-0.18	-0.09	ENSV
NINE	-0.15		0.12	0.14	0.46	0.41	0.61	-0.33	0.62	0.61	NINE
EFXT	-0.45	0.12		0.84	0.82	-0.59	-0.46	-0.25	0.67	0.42	EFXT
GEOS	-0.21	0.14	0.84		0.76	-0.6	-0.4	-0.16	0.71	0.5	GEOS
NGS	-0.24	0.46	0.82	0.76		-0.24	0.02	-0.22	0.86	0.59	NGS
DRQ	0.12	0.41	-0.59	-0.6	-0.24		0.65	-0.14	-0.21	0.06	DRQ
FET	0.28	0.61	-0.46	-0.4	0.02	0.65		-0.02	0.21	0.3	FET
CCLP	0.45	-0.33	-0.25	-0.16	-0.22	-0.14	-0.02		-0.26	-0.35	CCLP
MRC	-0.18	0.62	0.67	0.71	0.86	-0.21	0.21	-0.26		0.67	MRC
NOA	-0.09	0.61	0.42	0.5	0.59	0.06	0.3	-0.35	0.67		NOA
	ENSV	NINE	EFXT	GEOS	NGS	DRQ	FET	CCLP	MRC	NOA

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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

MRC	+ 0.86	NGS
GEOS	+ 0.84	EFXT
NGS	+ 0.82	EFXT
NGS	+ 0.76	GEOS
MRC	+ 0.71	GEOS
MRC	+ 0.67	EFXT

High negative correlations

DRQ	- 0.6	GEOS
DRQ	- 0.59	EFXT
FET	- 0.46	EFXT
EFXT	- 0.45	ENSV
FET	- 0.4	GEOS
NOA	- 0.35	CCLP

Risk-Adjusted Indicators

There is a big difference between Profire Stock performing well and Profire Ene 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 Profire Ene'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
ENSV	5.50	(1.49)	0.00	(0.81)	0.00	0.00	9.09	(8.33)	69.74
NINE	4.36	(0.15)	0.02	0.06	4.61	(5.98)	10.77	(8.55)	43.06
EFXT	1.67	0.73	0.38	1.12	1.15	(2.06)	4.56	(2.72)	8.19
GEOS	2.13	0.35	0.20	0.24	2.04	(2.47)	4.79	(3.45)	16.83
NGS	2.27	0.23	0.14	0.21	2.17	(2.77)	4.58	(3.04)	13.49
DRQ	1.89	(0.08)	0.00	0.62	0.00	0.00	3.57	(4.30)	12.98
FET	1.81	(0.28)	0.00	(0.12)	0.00	0.00	4.69	(3.35)	11.03
CCLP	2.66	0.00	0.00	0.10	0.00	0.00	8.11	(4.35)	17.49
MRC	1.50	(0.02)	0.05	0.09	1.52	(1.74)	3.28	(2.94)	18.83
NOA	1.61	0.07	0.00	0.26	2.15	(1.72)	3.37	(2.99)	15.73

Profire Ene Corporate Management

Patrick Fisher	Vice Development	Profile
Rachel Gleiberman	Marketing Manager	Profile
Jeremy Orr	Senior Manager	Profile
Todd Fugal	InHouse Counsel	Profile

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