PermRock Royalty Correlations

PRT Stock

USD 4.34 0.09 2.03%

The current 90-days correlation between PermRock Royalty Trust and Hugoton Royalty Trust is 0.22 (i.e., Modest diversification). The correlation of PermRock Royalty 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.

PermRock Royalty Correlation With Market

Weak diversification

The correlation between PermRock Royalty Trust and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PermRock Royalty Trust 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 PermRock Royalty Trust. 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.

Moving together with PermRock Stock

0.69	SD	SandRidge Energy	Pair Corr
0.63	BSM	Black Stone Minerals	Pair Corr
0.68	EOG	EOG Resources Sell-off Trend	Pair Corr
0.74	HES	Hess	Pair Corr

Moving against PermRock Stock

0.48	CNX	CNX Resources Corp	Pair Corr
0.43	CKX	CKX Lands	Pair Corr

Related Correlations Analysis

	HGTXU	MVO	SJT	SBR	CRT	MTR	VOC	NRT	PVL
HGTXU		0.69	-0.29	-0.85	-0.03	-0.33	0.59	0.14	0.59	HGTXU
MVO	0.69		-0.18	-0.63	-0.26	-0.37	0.82	0.03	0.44	MVO
SJT	-0.29	-0.18		0.55	0.6	0.56	-0.12	0.47	0.35	SJT
SBR	-0.85	-0.63	0.55		0.29	0.52	-0.5	0.04	-0.35	SBR
CRT	-0.03	-0.26	0.6	0.29		0.73	-0.24	0.37	0.32	CRT
MTR	-0.33	-0.37	0.56	0.52	0.73		-0.41	-0.08	0.21	MTR
VOC	0.59	0.82	-0.12	-0.5	-0.24	-0.41		0.22	0.34	VOC
NRT	0.14	0.03	0.47	0.04	0.37	-0.08	0.22		0.24	NRT
PVL	0.59	0.44	0.35	-0.35	0.32	0.21	0.34	0.24		PVL
	HGTXU	MVO	SJT	SBR	CRT	MTR	VOC	NRT	PVL

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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

VOC	+ 0.82	MVO
MTR	+ 0.73	CRT
MVO	+ 0.69	HGTXU
CRT	+ 0.6	SJT
VOC	+ 0.59	HGTXU
PVL	+ 0.59	HGTXU

High negative correlations

SBR	- 0.85	HGTXU
SBR	- 0.63	MVO
VOC	- 0.5	SBR
VOC	- 0.41	MTR
MTR	- 0.37	MVO
PVL	- 0.35	SBR

Risk-Adjusted Indicators

There is a big difference between PermRock Stock performing well and PermRock Royalty 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 PermRock Royalty'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
HGTXU	3.00	(1.06)	0.00	(1.11)	0.00	0.00	5.88	(8.11)	16.36
MVO	2.11	(0.79)	0.00	6.04	0.00	0.00	3.58	(7.17)	15.17
SJT	2.32	0.00	(0.02)	0.11	2.34	(3.10)	5.48	(4.21)	16.89
SBR	0.85	0.13	0.06	0.42	1.12	(0.90)	1.58	(1.52)	8.92
CRT	1.59	0.00	(0.04)	0.10	1.71	(2.12)	3.13	(3.09)	10.31
MTR	2.33	0.26	0.09	0.60	2.25	(2.79)	5.30	(4.28)	22.28
VOC	2.05	(0.35)	0.00	(2.26)	0.00	0.00	3.02	(4.64)	18.63
NRT	2.22	(0.16)	0.00	(0.85)	0.00	0.00	5.32	(4.61)	17.78
PVL	1.52	(0.05)	0.00	0.28	0.00	0.00	3.29	(4.00)	10.66

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