Pioneer Natural Correlations

Summary

PXDDelisted Stock

USD 218.03 1.53 0.71%

The current 90-days correlation between Pioneer Natural Resources and Occidental Petroleum is -0.02 (i.e., Good diversification). The correlation of Pioneer Natural 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.

Pioneer Natural Correlation With Market

Good diversification

The correlation between Pioneer Natural Resources and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pioneer Natural Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Pioneer Stock

0.52	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.48	VZ	Verizon Communications Aggressive Push	Pair Corr
0.46	BAC-PL	Bank of America	Pair Corr
0.4	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.36	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.36	HD	Home Depot	Pair Corr
0.32	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	CTRA	OXY	FANG	COP	DVN	EQT	PR	EOG	APA	HES
CTRA		0.04	0.32	0.67	-0.11	0.86	0.93	0.89	-0.25	0.86	CTRA
OXY	0.04		0.85	0.45	0.95	-0.41	0.12	0.19	0.92	0.0	OXY
FANG	0.32	0.85		0.64	0.82	-0.05	0.45	0.53	0.73	0.36	FANG
COP	0.67	0.45	0.64		0.35	0.45	0.78	0.81	0.18	0.66	COP
DVN	-0.11	0.95	0.82	0.35		-0.53	-0.01	0.09	0.94	-0.13	DVN
EQT	0.86	-0.41	-0.05	0.45	-0.53		0.81	0.75	-0.64	0.84	EQT
PR	0.93	0.12	0.45	0.78	-0.01	0.81		0.93	-0.18	0.87	PR
EOG	0.89	0.19	0.53	0.81	0.09	0.75	0.93		-0.08	0.88	EOG
APA	-0.25	0.92	0.73	0.18	0.94	-0.64	-0.18	-0.08		-0.22	APA
HES	0.86	0.0	0.36	0.66	-0.13	0.84	0.87	0.88	-0.22		HES
	CTRA	OXY	FANG	COP	DVN	EQT	PR	EOG	APA	HES

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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

DVN	+ 0.95	OXY
APA	+ 0.94	DVN
PR	+ 0.93	CTRA
EOG	+ 0.93	PR
APA	+ 0.92	OXY
EOG	+ 0.89	CTRA

High negative correlations

APA	- 0.64	EQT
EQT	- 0.53	DVN
EQT	- 0.41	OXY
APA	- 0.25	CTRA
HES	- 0.22	APA
APA	- 0.18	PR

Risk-Adjusted Indicators

There is a big difference between Pioneer Stock performing well and Pioneer Natural 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 Pioneer Natural'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
CTRA	1.13	0.14	0.07	0.29	1.27	(1.18)	2.27	(1.94)	8.03
OXY	1.15	(0.18)	0.00	(0.18)	0.00	0.00	2.04	(2.77)	7.68
FANG	1.64	(0.13)	0.00	(0.04)	0.00	0.00	3.00	(3.91)	9.60
COP	1.25	(0.02)	(0.05)	0.07	1.51	(1.38)	2.59	(3.24)	7.92
DVN	1.29	(0.22)	0.00	(0.18)	0.00	0.00	2.17	(2.95)	7.21
EQT	1.65	0.39	0.25	0.47	1.24	(2.11)	3.68	(2.07)	8.85
PR	1.64	0.10	0.05	0.21	1.94	(1.79)	2.90	(3.33)	7.95
EOG	1.17	0.05	0.01	0.19	1.36	(1.19)	2.49	(2.88)	7.05
APA	2.03	(0.39)	0.00	(0.25)	0.00	0.00	3.31	(5.80)	17.30
HES	0.94	0.04	0.01	0.18	1.23	(0.94)	2.25	(2.31)	5.16

Pioneer Natural Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pioneer Natural stock to make a market-neutral strategy. Peer analysis of Pioneer Natural could also be used in its relative valuation, which is a method of valuing Pioneer Natural by comparing valuation metrics with similar companies.

Coterra Energy Occidental Petroleum Diamondback Energy ConocoPhillips Devon Energy EQT Corporation Permian Resources EOG Resources APA Corporation Hess Corporation Marathon Oil American Airlines Group Alcoa Corp Apple Inc Best Buy Co

Risk & Return

Correlation

Still Interested in Pioneer Natural Resources?

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