Transocean Correlations

RIG Stock

USD 4.25 0.02 0.47%

The current 90-days correlation between Transocean and Patterson UTI Energy is 0.65 (i.e., Poor diversification). The correlation of Transocean 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.

Transocean Correlation With Market

Weak diversification

The correlation between Transocean and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transocean and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Transocean Stock

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

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

Moving together with Transocean Stock

0.85	NBR	Nabors Industries	Pair Corr
0.64	SAR	Saratoga Investment Corp	Pair Corr
0.7	VLKAF	Volkswagen AG	Pair Corr
0.68	VWAGY	Volkswagen AG 110	Pair Corr
0.63	VLKPF	Volkswagen AG VZO	Pair Corr
0.64	WSFS	WSFS Financial	Pair Corr
0.7	ATI	Allegheny Technologies	Pair Corr
0.82	F	Ford Motor Aggressive Push	Pair Corr
0.78	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.83	DD	Dupont De Nemours	Pair Corr
0.63	PFE	Pfizer Inc	Pair Corr
0.67	MRK	Merck Company Aggressive Push	Pair Corr
0.62	KO	Coca Cola	Pair Corr
0.7	BAC	Bank of America Earnings Call This Week	Pair Corr

Moving against Transocean Stock

0.66	JD	JD Inc Adr	Pair Corr
0.66	HD	Home Depot	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.61	MSFT	Microsoft	Pair Corr
0.59	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	PTEN	KGS	PBF	STNG	GPOR	USAC	TGS	VAL	VIST	TDW
PTEN		0.59	-0.1	-0.1	-0.13	0.18	0.31	0.38	0.29	0.29	PTEN
KGS	0.59		-0.48	-0.58	0.13	0.13	0.46	0.06	0.32	0.08	KGS
PBF	-0.1	-0.48		0.82	0.36	0.25	0.25	0.74	0.46	0.51	PBF
STNG	-0.1	-0.58	0.82		0.01	-0.11	-0.02	0.54	0.17	0.13	STNG
GPOR	-0.13	0.13	0.36	0.01		0.59	0.65	0.47	0.73	0.59	GPOR
USAC	0.18	0.13	0.25	-0.11	0.59		0.46	0.42	0.5	0.7	USAC
TGS	0.31	0.46	0.25	-0.02	0.65	0.46		0.5	0.95	0.5	TGS
VAL	0.38	0.06	0.74	0.54	0.47	0.42	0.5		0.66	0.68	VAL
VIST	0.29	0.32	0.46	0.17	0.73	0.5	0.95	0.66		0.61	VIST
TDW	0.29	0.08	0.51	0.13	0.59	0.7	0.5	0.68	0.61		TDW
	PTEN	KGS	PBF	STNG	GPOR	USAC	TGS	VAL	VIST	TDW

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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

VIST	+ 0.95	TGS
STNG	+ 0.82	PBF
VAL	+ 0.74	PBF
VIST	+ 0.73	GPOR
TDW	+ 0.7	USAC
TDW	+ 0.68	VAL

High negative correlations

STNG	- 0.58	KGS
PBF	- 0.48	KGS
GPOR	- 0.13	PTEN
USAC	- 0.11	STNG
STNG	- 0.1	PTEN
PBF	- 0.1	PTEN

Risk-Adjusted Indicators

There is a big difference between Transocean Stock performing well and Transocean 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 Transocean'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
PTEN	2.45	0.13	0.06	0.17	2.77	(2.51)	5.55	(5.31)	17.67
KGS	1.39	0.05	0.01	0.17	2.21	(1.27)	3.17	(3.02)	11.53
PBF	2.92	(0.02)	0.02	0.07	3.45	(3.25)	5.20	(5.69)	26.68
STNG	1.48	0.05	(0.03)	(0.23)	1.65	(1.57)	3.13	(2.56)	8.34
GPOR	1.68	(0.16)	0.00	(0.23)	0.00	0.00	3.09	(4.05)	13.69
USAC	1.34	0.11	0.02	1.01	1.58	(1.43)	3.05	(3.19)	10.46
TGS	2.62	0.54	0.28	0.48	1.67	(3.82)	4.52	(3.18)	40.09
VAL	2.11	(0.09)	(0.01)	0.03	2.85	(2.24)	4.22	(3.97)	20.91
VIST	2.19	0.44	0.14	0.79	2.19	(2.47)	6.62	(3.96)	23.65
TDW	2.39	0.02	0.01	0.10	2.92	(2.75)	6.86	(6.07)	15.89

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