Transocean Correlations

RIG Stock

USD 6.48 0.10 1.57%

The current 90-days correlation between Transocean and Patterson UTI Energy is 0.41 (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

Very weak diversification

The correlation between Transocean and DJI is 0.59 (i.e., Very 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

0.83	HP	Helmerich and Payne	Pair Corr
0.99	NE	Noble plc	Pair Corr
0.95	OD3	ODFJELL DRILLLTD	Pair Corr
0.89	NBR	Nabors Industries	Pair Corr
0.88	PDS	Precision Drilling	Pair Corr
0.96	VAL	Valaris	Pair Corr
0.92	W1T	WESTERN ENERGY SRV	Pair Corr
0.93	ESI	Ensign Energy Services Earnings Call This Week	Pair Corr
0.7	SDI	Stampede Drilling	Pair Corr
0.9	B2W	BORR DRILLING NEW	Pair Corr
0.81	INVX	Innovex International	Pair Corr
0.93	WRG	Western Energy Services	Pair Corr
0.88	ND4	ODFJELL TECHNOLOGYLTD	Pair Corr
0.94	4DS	Daldrup Shne Aktieng	Pair Corr
0.86	PHX	PHX Energy Services	Pair Corr
0.91	CAPD	Capital Drilling	Pair Corr
0.8	HPC	Helmerich Payne	Pair Corr
0.72	HAL	Halliburton	Pair Corr
0.92	4DS	Daldrup Shne Aktieng	Pair Corr
0.85	NBI1	Nabors Industries	Pair Corr
0.88	PTEN	Patterson UTI Energy	Pair Corr
0.73	YIZH	Sinopec Oilfield Service	Pair Corr
0.94	SDRL	Seadrill Limited	Pair Corr
0.88	PD	Precision Drilling	Pair Corr
0.82	AKT-A	AKITA Drilling	Pair Corr
0.84	PE1	Patterson UTI Energy	Pair Corr
0.88	4JO	NORTHERN OCEAN LTD	Pair Corr
0.85	PRE1	PRECISION DRILLING	Pair Corr
0.94	PPHI	Positive Physicians	Pair Corr
0.64	RCL	Royal Caribbean Cruises	Pair Corr
0.76	MSGE	Madison Square Garden	Pair Corr
0.69	AOZOY	Aozora Bank	Pair Corr
0.72	BCO	Brinks Company	Pair Corr
0.92	RVRF	River Financial	Pair Corr

Moving against Transocean Stock

0.4

DECAU

Denali Capital Acqui

Pair Corr

Related Correlations Analysis

	PTEN	KGS	PBF	STNG	GPOR	USAC	TGS	VAL	VIST	TDW
PTEN		0.9	0.6	0.85	-0.27	0.91	-0.29	0.77	0.78	0.9	PTEN
KGS	0.9		0.54	0.9	0.01	0.87	-0.27	0.92	0.74	0.92	KGS
PBF	0.6	0.54		0.77	0.09	0.8	-0.21	0.6	0.65	0.7	PBF
STNG	0.85	0.9	0.77		-0.03	0.93	-0.37	0.89	0.78	0.94	STNG
GPOR	-0.27	0.01	0.09	-0.03		-0.12	0.4	0.06	0.12	-0.07	GPOR
USAC	0.91	0.87	0.8	0.93	-0.12		-0.3	0.84	0.8	0.93	USAC
TGS	-0.29	-0.27	-0.21	-0.37	0.4	-0.3		-0.3	0.16	-0.23	TGS
VAL	0.77	0.92	0.6	0.89	0.06	0.84	-0.3		0.66	0.91	VAL
VIST	0.78	0.74	0.65	0.78	0.12	0.8	0.16	0.66		0.82	VIST
TDW	0.9	0.92	0.7	0.94	-0.07	0.93	-0.23	0.91	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

TDW	+ 0.94	STNG
USAC	+ 0.93	STNG
TDW	+ 0.93	USAC
VAL	+ 0.92	KGS
TDW	+ 0.92	KGS
USAC	+ 0.91	PTEN

High negative correlations

TGS	- 0.37	STNG
VAL	- 0.3	TGS
TGS	- 0.3	USAC
TGS	- 0.29	PTEN
TGS	- 0.27	KGS
GPOR	- 0.27	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	1.95	0.63	0.27	0.80	1.77	(2.24)	5.89	(3.13)	11.37
KGS	1.56	0.75	0.36	2.39	1.32	(1.88)	3.77	(2.38)	15.25
PBF	2.47	0.06	0.00	0.24	3.18	(2.65)	5.20	(5.33)	19.71
STNG	1.81	0.42	0.18	(1.07)	1.41	(2.07)	4.53	(2.67)	12.43
GPOR	1.86	0.06	(0.01)	(0.29)	2.65	(1.86)	3.30	(4.09)	11.99
USAC	1.13	0.21	0.11	0.47	1.27	(1.20)	2.50	(2.52)	7.17
TGS	1.68	(0.04)	(0.03)	0.03	1.94	(2.01)	4.52	(3.18)	11.79
VAL	2.80	0.87	0.29	0.71	2.30	(3.25)	7.22	(6.28)	41.60
VIST	1.95	0.24	0.08	0.43	2.54	(1.99)	6.03	(4.38)	13.64
TDW	2.20	0.55	0.21	0.71	2.26	(2.68)	4.95	(5.03)	15.89

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