ProPetro Holding Correlations

PUMP Stock

USD 9.20 0.15 1.60%

The correlation of ProPetro Holding 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.

ProPetro Holding Correlation With Market

Significant diversification

The correlation between ProPetro Holding Corp and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProPetro Holding Corp 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 ProPetro Holding Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with ProPetro Stock

0.72	TS	Tenaris SA ADR	Pair Corr
0.84	EFXT	Enerflex	Pair Corr
0.65	BKR	Baker Hughes	Pair Corr
0.79	FET	Forum Energy Technologies	Pair Corr
0.79	FTI	TechnipFMC PLC	Pair Corr
0.72	FTK	Flotek Industries	Pair Corr
0.86	KGS	Kodiak Gas Services,	Pair Corr
0.75	NGS	Natural Gas Services	Pair Corr
0.72	RES	RPC Inc	Pair Corr
0.89	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.72	TTI	Tetra Technologies	Pair Corr
0.91	LBRT	Liberty Oilfield Services	Pair Corr

Moving against ProPetro Stock

0.68	DWSN	Dawson Geophysical	Pair Corr
0.61	WFRD	Weatherford International Earnings Call This Week	Pair Corr
0.47	HLX	Helix Energy Solutions	Pair Corr
0.45	NOV	NOV Inc	Pair Corr
0.68	GEOS	Geospace Technologies Earnings Call This Week	Pair Corr
0.66	DINO	HF Sinclair Corp	Pair Corr
0.6	BOOM	Dmc Global	Pair Corr
0.49	E	Eni SpA ADR	Pair Corr
0.43	NESRW	National Energy Services	Pair Corr

Related Correlations Analysis

	NEX	RNGR	SOI	SLCA	NR	RES	AROC	VTOL	FTK
NEX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NEX
RNGR	0.0		0.0	0.0	0.33	0.81	0.23	0.53	0.8	RNGR
SOI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SOI
SLCA	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SLCA
NR	0.0	0.33	0.0	0.0		0.42	0.36	0.0	0.44	NR
RES	0.0	0.81	0.0	0.0	0.42		0.49	0.45	0.51	RES
AROC	0.0	0.23	0.0	0.0	0.36	0.49		-0.04	0.09	AROC
VTOL	0.0	0.53	0.0	0.0	0.0	0.45	-0.04		0.27	VTOL
FTK	0.0	0.8	0.0	0.0	0.44	0.51	0.09	0.27		FTK
	NEX	RNGR	SOI	SLCA	NR	RES	AROC	VTOL	FTK

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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

RES	+ 0.81	RNGR
FTK	+ 0.8	RNGR
VTOL	+ 0.53	RNGR
FTK	+ 0.51	RES
AROC	+ 0.49	RES
VTOL	+ 0.45	RES

High negative correlations

VTOL	- 0.04	AROC
VTOL	- 0.0	NR
FTK	- 0.0	SLCA
VTOL	- 0.0	SLCA
AROC	- 0.0	SLCA
RES	- 0.0	SLCA

Risk-Adjusted Indicators

There is a big difference between ProPetro Stock performing well and ProPetro Holding 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 ProPetro Holding'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
NEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RNGR	1.59	0.47	0.21	0.82	1.61	(1.93)	4.42	(2.62)	11.52
SOI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SLCA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NR	2.13	0.38	0.10	(0.64)	2.11	(2.67)	5.33	(4.86)	14.86
RES	1.90	0.03	(0.01)	0.15	2.38	(2.18)	4.40	(3.87)	18.40
AROC	2.11	0.70	0.22	2.42	2.36	(2.48)	5.84	(2.90)	21.64
VTOL	1.40	(0.01)	(0.04)	0.05	1.72	(1.63)	2.92	(2.98)	14.67
FTK	3.36	0.80	0.34	0.47	2.28	(4.76)	9.10	(4.66)	29.41

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