Transocean Correlations

RIG Stock

USD 4.24 0.11 2.66%

The current 90-days correlation between Transocean and Patterson UTI Energy is 0.67 (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 0.32 (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

0.65	NE	Noble plc	Pair Corr
0.72	VAL	Valaris	Pair Corr
0.91	INVX	Innovex International	Pair Corr
0.68	PD	Precision Drilling	Pair Corr
0.87	PTAIY	Astra International Tbk	Pair Corr
0.69	PKX	POSCO Holdings	Pair Corr
0.8	EC	Ecopetrol SA ADR	Pair Corr
0.71	PUTKY	United Tractors Tbk	Pair Corr
0.85	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.75	NAUFF	NevGold Corp	Pair Corr
0.81	ARVN	Arvinas	Pair Corr
0.8	PLTK	Playtika Holding Corp	Pair Corr
0.71	MGCV	MGC Ventures	Pair Corr
0.85	CAH	Cardinal Health	Pair Corr
0.64	SYF	Synchrony Financial	Pair Corr
0.84	FSRL	First Reliance Bancshares Normal Trading	Pair Corr
0.72	NRC	National Research Corp	Pair Corr
0.63	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.8	CASXF	Casa Minerals	Pair Corr

Moving against Transocean Stock

0.69	SDI	Stampede Drilling	Pair Corr
0.64	AKT-A	AKITA Drilling	Pair Corr
0.63	PTAIF	PT Astra International	Pair Corr
0.37	PIFMY	Indofood Sukses Makmur	Pair Corr
0.74	459200KV2	IBM 49 27	Pair Corr
0.33	RKLB	Rocket Lab USA	Pair Corr

Related Correlations Analysis

	PTEN	KGS	PBF	STNG	GPOR	USAC	TGS	VAL	VIST	TDW
PTEN		0.52	0.15	0.03	0.21	0.07	0.47	0.56	0.5	0.2	PTEN
KGS	0.52		-0.43	-0.54	0.23	0.1	0.42	0.08	0.32	0.05	KGS
PBF	0.15	-0.43		0.89	0.32	0.29	0.27	0.75	0.44	0.5	PBF
STNG	0.03	-0.54	0.89		-0.03	-0.04	0.03	0.54	0.18	0.14	STNG
GPOR	0.21	0.23	0.32	-0.03		0.77	0.74	0.51	0.78	0.66	GPOR
USAC	0.07	0.1	0.29	-0.04	0.77		0.43	0.48	0.49	0.69	USAC
TGS	0.47	0.42	0.27	0.03	0.74	0.43		0.53	0.97	0.4	TGS
VAL	0.56	0.08	0.75	0.54	0.51	0.48	0.53		0.67	0.67	VAL
VIST	0.5	0.32	0.44	0.18	0.78	0.49	0.97	0.67		0.5	VIST
TDW	0.2	0.05	0.5	0.14	0.66	0.69	0.4	0.67	0.5		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	+ 0.97	TGS
STNG	+ 0.89	PBF
VIST	+ 0.78	GPOR
USAC	+ 0.77	GPOR
VAL	+ 0.75	PBF
TGS	+ 0.74	GPOR

High negative correlations

STNG	- 0.54	KGS
PBF	- 0.43	KGS
USAC	- 0.04	STNG
GPOR	- 0.03	STNG

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	2.40	0.30	0.10	0.24	2.76	(2.46)	5.47	(5.31)	17.67
KGS	1.47	0.01	0.00	0.07	2.45	(1.31)	3.17	(4.27)	11.53
PBF	2.53	(0.07)	0.00	(0.02)	0.00	0.00	5.09	(4.92)	26.68
STNG	1.36	(0.17)	0.00	(2.07)	0.00	0.00	2.79	(2.67)	6.33
GPOR	1.57	0.15	0.08	0.21	1.81	(1.74)	3.11	(3.84)	9.76
USAC	1.31	(0.01)	(0.02)	0.04	1.63	(1.38)	2.94	(3.19)	10.46
TGS	2.58	0.60	0.30	0.44	1.68	(3.56)	4.52	(3.28)	40.09
VAL	2.14	0.05	0.03	0.09	2.83	(2.29)	5.02	(3.97)	20.91
VIST	2.11	0.54	0.19	0.81	2.01	(2.40)	6.62	(3.43)	23.65
TDW	2.35	(0.05)	(0.02)	0.01	3.09	(2.44)	5.06	(6.07)	15.89

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