Transocean Correlations

RIG Stock

USD 5.39 0.45 9.11%

The current 90-days correlation between Transocean and Patterson UTI Energy is 0.45 (i.e., Very weak 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

Modest diversification

The correlation between Transocean and DJI is 0.23 (i.e., Modest 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

0.83	NBR	Nabors Industries Earnings Call This Week	Pair Corr
0.77	PDS	Precision Drilling Earnings Call This Week	Pair Corr
0.65	B2W	BORR DRILLING NEW	Pair Corr
0.74	CAPD	Capital Drilling	Pair Corr
0.64	PD	Precision Drilling Earnings Call This Week	Pair Corr
0.7	YLLXF	Yellow Cake plc	Pair Corr
0.63	OBYCF	Obayashi Earnings Call This Week	Pair Corr
0.65	RILYL	B Riley Financial	Pair Corr
0.61	NEWTH	NewtekOne 8625 percent	Pair Corr
0.76	PLX	Protalix Biotherapeutics	Pair Corr

Moving against Transocean Stock

0.43	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.34	OMC	Omnicom Group Earnings Call This Week	Pair Corr
0.33	PPERY	Bank Mandiri Persero Normal Trading	Pair Corr
0.74	IVVD	Invivyd	Pair Corr
0.58	ALL	Allstate Earnings Call This Week	Pair Corr
0.46	GGLDF	Getchell Gold Corp	Pair Corr
0.34	SPLPP	Steel Partners Holdings	Pair Corr
0.33	RVSN	Rail Vision Upward Rally	Pair Corr

Related Correlations Analysis

	PTEN	KGS	PBF	STNG	GPOR	USAC	TGS	VAL	VIST	TDW
PTEN		0.87	0.06	0.53	-0.46	0.82	-0.19	0.42	0.65	0.8	PTEN
KGS	0.87		-0.09	0.42	-0.14	0.7	-0.11	0.35	0.67	0.67	KGS
PBF	0.06	-0.09		0.76	0.24	0.31	-0.22	0.71	0.35	0.51	PBF
STNG	0.53	0.42	0.76		-0.03	0.65	-0.32	0.69	0.65	0.76	STNG
GPOR	-0.46	-0.14	0.24	-0.03		-0.28	0.28	0.29	0.1	-0.13	GPOR
USAC	0.82	0.7	0.31	0.65	-0.28		-0.17	0.63	0.7	0.82	USAC
TGS	-0.19	-0.11	-0.22	-0.32	0.28	-0.17		-0.02	0.28	-0.06	TGS
VAL	0.42	0.35	0.71	0.69	0.29	0.63	-0.02		0.68	0.8	VAL
VIST	0.65	0.67	0.35	0.65	0.1	0.7	0.28	0.68		0.82	VIST
TDW	0.8	0.67	0.51	0.76	-0.13	0.82	-0.06	0.8	0.82		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

KGS	+ 0.87	PTEN
USAC	+ 0.82	PTEN
TDW	+ 0.82	USAC
TDW	+ 0.82	VIST
TDW	+ 0.8	PTEN
TDW	+ 0.8	VAL

High negative correlations

GPOR	- 0.46	PTEN
TGS	- 0.32	STNG
USAC	- 0.28	GPOR
TGS	- 0.22	PBF
TGS	- 0.19	PTEN
TGS	- 0.17	USAC

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	2.08	0.55	0.20	0.75	2.11	(2.34)	5.89	(3.22)	10.85
KGS	1.51	0.64	0.27	18.63	1.39	(1.66)	3.55	(2.38)	8.66
PBF	2.72	(0.13)	0.00	(0.56)	0.00	0.00	5.20	(5.32)	19.17
STNG	1.69	0.15	0.03	(0.39)	1.66	(1.95)	4.53	(2.67)	12.30
GPOR	1.69	0.08	(0.01)	(0.56)	2.62	(1.69)	3.11	(4.05)	12.00
USAC	1.14	0.20	0.09	0.68	1.44	(1.17)	2.50	(2.55)	7.17
TGS	1.64	(0.10)	0.00	(0.06)	0.00	0.00	4.45	(3.06)	8.50
VAL	1.91	0.11	0.05	0.17	2.60	(1.98)	5.83	(3.39)	13.35
VIST	2.07	0.21	0.05	0.53	2.78	(2.00)	4.21	(4.38)	13.64
TDW	2.46	0.28	0.09	0.34	2.90	(2.77)	5.06	(6.12)	15.89

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