Patterson UTI Correlations

Patterson UTI Correlation With Market

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

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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    HP + 0.85 NBR RIG + 0.83 SDRL SDRL + 0.81 PDS RIG + 0.76 PDS NE + 0.73 PDS RIG + 0.72 NE

High negative correlations    BORR - 0.48 HP SDRL - 0.46 DO DO - 0.3 PDS RIG - 0.29 DO DO - 0.29 NBR BORR - 0.19 NBR

Risk-Adjusted Indicators

There is a big difference between Patterson Stock performing well and Patterson UTI 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 Patterson UTI'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.