PrimeEnergy Correlations

PNRG Stock

USD 183.09 0.00 0.00%

The current 90-days correlation between PrimeEnergy and Amplify Energy Corp is 0.52 (i.e., Very weak diversification). The correlation of PrimeEnergy 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.

PrimeEnergy Correlation With Market

Very weak diversification

The correlation between PrimeEnergy and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PrimeEnergy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with PrimeEnergy Stock

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

For more detail on how to invest in PrimeEnergy Stock please use our How to Invest in PrimeEnergy guide.

Moving together with PrimeEnergy Stock

0.83	PR	Permian Resources Aggressive Push	Pair Corr
0.79	FANG	Diamondback Energy	Pair Corr
0.78	APA	APA Corporation	Pair Corr
0.83	DVN	Devon Energy	Pair Corr
0.73	PEY	Peyto ExplorationDevel	Pair Corr
0.74	BIR	Birchcliff Energy	Pair Corr
0.77	TVE	Tamarack Valley Energy	Pair Corr
0.61	NVA	NuVista Energy	Pair Corr
0.62	POU	Paramount Resources	Pair Corr
0.68	FRU	Freehold Royalties	Pair Corr

Moving against PrimeEnergy Stock

0.65	EONR	EON Resources	Pair Corr
0.57	JOY	Journey Energy	Pair Corr
0.47	WTI	WT Offshore	Pair Corr
0.42	HPK	Highpeak Energy Acqu	Pair Corr
0.4	HME	Hemisphere Energy	Pair Corr
0.79	LCX	Lycos Energy	Pair Corr
0.72	PCI	Perpetual Credit Income	Pair Corr
0.71	TAL	PetroTal Corp	Pair Corr
0.54	USEG	US Energy Corp	Pair Corr
0.5	BANL	CBL International	Pair Corr
0.4	SHEL	Shell PLC ADR Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AMPY	IMPP	INR	REI	HUSA	OMSE	KGEI	BRY	VAL	TOYO
AMPY		0.51	0.02	0.13	0.27	-0.09	0.15	-0.04	0.55	0.19	AMPY
IMPP	0.51		-0.72	0.07	0.73	0.53	0.51	0.63	0.4	0.43	IMPP
INR	0.02	-0.72		0.02	-0.65	-0.75	-0.5	-0.8	-0.12	-0.38	INR
REI	0.13	0.07	0.02		-0.35	0.3	0.2	0.3	0.59	0.67	REI
HUSA	0.27	0.73	-0.65	-0.35		0.36	0.6	0.55	0.08	0.13	HUSA
OMSE	-0.09	0.53	-0.75	0.3	0.36		0.43	0.74	0.37	0.58	OMSE
KGEI	0.15	0.51	-0.5	0.2	0.6	0.43		0.65	0.37	0.59	KGEI
BRY	-0.04	0.63	-0.8	0.3	0.55	0.74	0.65		0.24	0.6	BRY
VAL	0.55	0.4	-0.12	0.59	0.08	0.37	0.37	0.24		0.59	VAL
TOYO	0.19	0.43	-0.38	0.67	0.13	0.58	0.59	0.6	0.59		TOYO
	AMPY	IMPP	INR	REI	HUSA	OMSE	KGEI	BRY	VAL	TOYO

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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

BRY	+ 0.74	OMSE
HUSA	+ 0.73	IMPP
TOYO	+ 0.67	REI
BRY	+ 0.65	KGEI
BRY	+ 0.63	IMPP
KGEI	+ 0.6	HUSA

High negative correlations

BRY	- 0.8	INR
OMSE	- 0.75	INR
INR	- 0.72	IMPP
HUSA	- 0.65	INR
KGEI	- 0.5	INR
TOYO	- 0.38	INR

Risk-Adjusted Indicators

There is a big difference between PrimeEnergy Stock performing well and PrimeEnergy 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 PrimeEnergy'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
AMPY	2.76	0.13	0.02	2.08	3.31	(2.74)	5.27	(4.62)	17.71
IMPP	2.97	(0.48)	0.00	2.55	0.00	0.00	5.56	(6.94)	33.83
INR	2.18	0.48	0.21	0.75	1.89	(2.67)	5.33	(3.43)	19.95
REI	2.04	0.15	0.07	0.20	1.72	(3.27)	5.68	(3.09)	11.11
HUSA	4.77	(1.85)	0.00	6.34	0.00	0.00	7.08	(11.54)	44.49
OMSE	3.20	0.04	0.00	(0.55)	4.33	(3.24)	8.11	(6.97)	24.27
KGEI	2.07	(0.20)	0.00	(1.38)	0.00	0.00	3.91	(4.30)	11.55
BRY	1.47	(0.32)	0.00	(0.34)	0.00	0.00	2.46	(4.20)	8.78
VAL	1.72	0.03	0.01	0.08	2.43	(1.75)	3.76	(3.39)	13.35
TOYO	2.59	0.10	0.01	(0.43)	2.88	(2.86)	6.10	(4.99)	15.80

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