PrimeEnergy Correlations

PNRG Stock

USD 203.90 0.95 0.47%

The current 90-days correlation between PrimeEnergy and Evolution Petroleum is 0.2 (i.e., Modest 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

Weak diversification

The correlation between PrimeEnergy and DJI is 0.35 (i.e., 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.

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 metropolitan statistical area.

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

Moving together with PrimeEnergy Stock

0.74	AR	Antero Resources Corp	Pair Corr
0.95	LB	LandBridge Company Downward Rally	Pair Corr
0.73	PR	Permian Resources Aggressive Push	Pair Corr
0.94	DMLP	Dorchester Minerals	Pair Corr
0.71	EPSN	Epsilon Energy	Pair Corr
0.77	BSM	Black Stone Minerals	Pair Corr
0.95	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.84	CRC	California Resources Corp	Pair Corr
0.91	CRK	Comstock Resources	Pair Corr
0.77	DEC	Diversified Energy	Pair Corr
0.69	EOG	EOG Resources	Pair Corr
0.73	EPM	Evolution Petroleum	Pair Corr
0.93	EQT	EQT Corporation	Pair Corr
0.96	EXE	Expand Energy Symbol Change	Pair Corr
0.84	HES	Hess	Pair Corr
0.75	KRP	Kimbell Royalty Partners	Pair Corr
0.85	MGY	Magnolia Oil Gas	Pair Corr

Moving against PrimeEnergy Stock

0.87	BRN	Barnwell Industries	Pair Corr
0.77	BRY	Berry Petroleum Corp	Pair Corr
0.62	APA	APA Corporation	Pair Corr
0.53	DVN	Devon Energy	Pair Corr
0.48	SD	SandRidge Energy	Pair Corr
0.48	EONR	EON Resources Symbol Change	Pair Corr
0.46	BTE	Baytex Energy Corp	Pair Corr
0.45	EGY	Vaalco Energy	Pair Corr
0.77	VRN	Veren Inc Symbol Change	Pair Corr
0.58	REI	Ring Energy	Pair Corr
0.58	TBN	Tamboran Resources	Pair Corr
0.57	MUR	Murphy Oil Fiscal Year End 23rd of January 2025	Pair Corr
0.49	KOS	Kosmos Energy Potential Growth	Pair Corr
0.48	MNR	Mach Natural Resources	Pair Corr
0.47	OXY	Occidental Petroleum	Pair Corr
0.45	WDS	Woodside Energy Group	Pair Corr
0.39	OBE	Obsidian Energy	Pair Corr

Related Correlations Analysis

	EPSN	CRGY	SBOW	EPM	TXO	XLEFF	COCBF	CKX	GPRK	PHX
EPSN		0.73	0.03	0.53	0.37	-0.52	0.17	-0.02	0.22	0.6	EPSN
CRGY	0.73		-0.26	0.74	0.13	-0.38	0.0	-0.46	0.33	0.6	CRGY
SBOW	0.03	-0.26		-0.14	0.03	-0.24	0.08	0.49	-0.32	-0.31	SBOW
EPM	0.53	0.74	-0.14		-0.07	-0.65	-0.09	-0.22	0.08	0.43	EPM
TXO	0.37	0.13	0.03	-0.07		0.3	0.13	0.18	0.59	-0.01	TXO
XLEFF	-0.52	-0.38	-0.24	-0.65	0.3		-0.1	-0.21	0.48	-0.35	XLEFF
COCBF	0.17	0.0	0.08	-0.09	0.13	-0.1		0.15	-0.04	0.24	COCBF
CKX	-0.02	-0.46	0.49	-0.22	0.18	-0.21	0.15		-0.36	-0.21	CKX
GPRK	0.22	0.33	-0.32	0.08	0.59	0.48	-0.04	-0.36		0.07	GPRK
PHX	0.6	0.6	-0.31	0.43	-0.01	-0.35	0.24	-0.21	0.07		PHX
	EPSN	CRGY	SBOW	EPM	TXO	XLEFF	COCBF	CKX	GPRK	PHX

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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

EPM	+ 0.74	CRGY
CRGY	+ 0.73	EPSN
PHX	+ 0.6	EPSN
PHX	+ 0.6	CRGY
GPRK	+ 0.59	TXO
EPM	+ 0.53	EPSN

High negative correlations

XLEFF	- 0.65	EPM
XLEFF	- 0.52	EPSN
CKX	- 0.46	CRGY
XLEFF	- 0.38	CRGY
GPRK	- 0.36	CKX
PHX	- 0.35	XLEFF

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
EPSN	1.90	0.19	0.03	2.26	2.18	(2.11)	4.46	(3.74)	11.32
CRGY	1.94	0.42	0.17	0.58	2.15	(2.31)	3.79	(3.20)	17.80
SBOW	1.58	0.16	0.05	0.38	1.86	(1.98)	3.59	(2.41)	15.61
EPM	1.80	0.24	0.13	0.37	1.60	(2.28)	3.99	(2.93)	20.30
TXO	1.16	(0.09)	0.00	(0.02)	0.00	0.00	3.18	(2.75)	7.52
XLEFF	2.95	(1.62)	0.00	(1.63)	0.00	0.00	0.00	0.00	99.00
COCBF	3.01	0.93	0.00	(0.50)	0.00	0.00	0.00	0.00	150.00
CKX	1.09	(0.09)	0.00	0.58	0.00	0.00	2.38	(3.25)	7.70
GPRK	2.02	(0.06)	(0.04)	0.04	2.41	(2.00)	4.46	(3.49)	11.99
PHX	1.13	0.21	0.05	6.94	1.38	(1.46)	2.19	(1.75)	13.02

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