PHX Minerals Correlations

PHX Stock

USD 4.05 0.05 1.25%

The current 90-days correlation between PHX Minerals and Evolution Petroleum is 0.21 (i.e., Modest diversification). The correlation of PHX Minerals 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.

PHX Minerals Correlation With Market

Average diversification

The correlation between PHX Minerals and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PHX Minerals 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 PHX Minerals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more information on how to buy PHX Stock please use our How to Invest in PHX Minerals guide.

Moving together with PHX Stock

0.72	AR	Antero Resources Corp Sell-off Trend	Pair Corr
0.67	EP	Empire Petroleum Corp	Pair Corr
0.86	VIST	Vista Oil Gas	Pair Corr
0.82	BKV	BKV Corporation	Pair Corr
0.8	CRK	Comstock Resources	Pair Corr
0.82	DEC	Diversified Energy	Pair Corr
0.7	EQT	EQT Corporation	Pair Corr
0.71	EXE	Expand Energy Symbol Change	Pair Corr
0.69	GTE	Gran Tierra Energy	Pair Corr

Moving against PHX Stock

0.67	BTE	Baytex Energy Corp	Pair Corr
0.64	BRN	Barnwell Industries	Pair Corr
0.64	CNQ	Canadian Natural Res	Pair Corr
0.63	EONR	EON Resources Symbol Change	Pair Corr
0.63	DVN	Devon Energy	Pair Corr
0.62	COP	ConocoPhillips	Pair Corr
0.55	FANG	Diamondback Energy	Pair Corr
0.5	BRY	Berry Petroleum Corp	Pair Corr
0.49	ROCLU	Roth CH Acquisition	Pair Corr
0.72	EGY	Vaalco Energy	Pair Corr
0.64	PED	PEDEVCO Corp	Pair Corr
0.54	REI	Ring Energy	Pair Corr
0.54	STR	Sitio Royalties Corp	Pair Corr
0.46	KOS	Kosmos Energy	Pair Corr
0.39	GFR	Greenfire Resources Potential Growth	Pair Corr
0.39	MGY	Magnolia Oil Gas Sell-off Trend	Pair Corr
0.33	MUR	Murphy Oil Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EPM	GPRK	GRNT	CRC	MXC	XLEFF	COCBF	ESTE	SBOW	VTLE
EPM		0.24	0.66	0.87	0.35	0.0	-0.19	-0.22	-0.02	0.64	EPM
GPRK	0.24		0.52	0.08	-0.08	0.0	0.15	0.49	-0.11	0.67	GPRK
GRNT	0.66	0.52		0.49	0.42	0.0	-0.12	0.35	-0.16	0.9	GRNT
CRC	0.87	0.08	0.49		0.23	0.0	-0.11	-0.44	0.16	0.49	CRC
MXC	0.35	-0.08	0.42	0.23		0.0	-0.23	0.04	-0.26	0.27	MXC
XLEFF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	XLEFF
COCBF	-0.19	0.15	-0.12	-0.11	-0.23	0.0		-0.07	0.08	-0.1	COCBF
ESTE	-0.22	0.49	0.35	-0.44	0.04	0.0	-0.07		-0.32	0.41	ESTE
SBOW	-0.02	-0.11	-0.16	0.16	-0.26	0.0	0.08	-0.32		-0.18	SBOW
VTLE	0.64	0.67	0.9	0.49	0.27	0.0	-0.1	0.41	-0.18		VTLE
	EPM	GPRK	GRNT	CRC	MXC	XLEFF	COCBF	ESTE	SBOW	VTLE

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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

VTLE	+ 0.9	GRNT
CRC	+ 0.87	EPM
VTLE	+ 0.67	GPRK
GRNT	+ 0.66	EPM
VTLE	+ 0.64	EPM
GRNT	+ 0.52	GPRK

High negative correlations

ESTE	- 0.44	CRC
SBOW	- 0.32	ESTE
SBOW	- 0.26	MXC
COCBF	- 0.23	MXC
ESTE	- 0.22	EPM
COCBF	- 0.19	EPM

Risk-Adjusted Indicators

There is a big difference between PHX Stock performing well and PHX Minerals 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 PHX Minerals' 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
EPM	1.35	0.02	0.01	0.06	1.95	(1.34)	3.21	(3.20)	9.77
GPRK	2.68	0.43	0.15	1.94	2.65	(2.95)	7.32	(4.11)	15.41
GRNT	1.63	0.21	0.10	0.48	1.85	(1.79)	3.34	(3.53)	14.83
CRC	1.55	0.03	0.02	0.16	1.89	(1.64)	4.05	(3.15)	10.08
MXC	2.14	(0.15)	0.00	(0.20)	0.00	0.00	4.35	(4.12)	13.25
XLEFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COCBF	3.01	0.74	0.00	(0.28)	0.00	0.00	0.00	0.00	150.00
ESTE	2.25	0.15	0.06	(0.83)	2.66	(2.41)	4.37	(4.80)	10.76
SBOW	1.58	0.23	0.11	(0.47)	1.86	(1.98)	3.59	(2.41)	15.61
VTLE	2.11	0.35	0.11	0.80	2.70	(2.17)	4.42	(4.55)	13.50

PHX Minerals Corporate Management

Chad True	Principal Officer	Profile
Taylor McClain	Vice Geology	Profile
Glen Brown	Independent Director	Profile
Stephanie Morris	Assistant Controller	Profile

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