Range Resources Correlations

RRC Stock

USD 34.18 0.52 1.50%

The current 90-days correlation between Range Resources Corp and Permian Resources is 0.56 (i.e., Very weak diversification). The correlation of Range Resources 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.

Range Resources Correlation With Market

Modest diversification

The correlation between Range Resources Corp and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Range Resources Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Range Stock

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

Moving together with Range Stock

0.64	CRC	California Resources Corp	Pair Corr
0.73	MGY	Magnolia Oil Gas	Pair Corr

Moving against Range Stock

0.33	EFXT	Enerflex	Pair Corr
0.68	RKLB	Rocket Lab USA Aggressive Push	Pair Corr
0.5	SIDU	Sidus Space Trending	Pair Corr
0.45	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.44	DB	Deutsche Bank AG	Pair Corr
0.39	NAUFF	NevGold Corp	Pair Corr
0.37	CASXF	Casa Minerals	Pair Corr
0.31	DGWPF	Drgerwerk AG	Pair Corr
0.31	FTV	Fortive Corp	Pair Corr

Related Correlations Analysis

	PR	OVV	APA	AR	AM	HESM	DINO	NFG	CNX	CHRD
PR		0.75	0.83	0.84	0.03	0.66	-0.4	-0.3	0.96	0.5	PR
OVV	0.75		0.91	0.88	0.51	0.51	-0.11	0.13	0.75	0.79	OVV
APA	0.83	0.91		0.88	0.39	0.62	-0.2	0.01	0.82	0.73	APA
AR	0.84	0.88	0.88		0.38	0.58	-0.17	-0.05	0.87	0.65	AR
AM	0.03	0.51	0.39	0.38		0.01	-0.01	0.8	0.01	0.71	AM
HESM	0.66	0.51	0.62	0.58	0.01		-0.54	-0.22	0.65	0.37	HESM
DINO	-0.4	-0.11	-0.2	-0.17	-0.01	-0.54		-0.09	-0.29	-0.24	DINO
NFG	-0.3	0.13	0.01	-0.05	0.8	-0.22	-0.09		-0.34	0.48	NFG
CNX	0.96	0.75	0.82	0.87	0.01	0.65	-0.29	-0.34		0.45	CNX
CHRD	0.5	0.79	0.73	0.65	0.71	0.37	-0.24	0.48	0.45		CHRD
	PR	OVV	APA	AR	AM	HESM	DINO	NFG	CNX	CHRD

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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

CNX	+ 0.96	PR
APA	+ 0.91	OVV
AR	+ 0.88	OVV
AR	+ 0.88	APA
CNX	+ 0.87	AR
AR	+ 0.84	PR

High negative correlations

DINO	- 0.54	HESM
DINO	- 0.4	PR
CNX	- 0.34	NFG
NFG	- 0.3	PR
CNX	- 0.29	DINO
CHRD	- 0.24	DINO

Risk-Adjusted Indicators

There is a big difference between Range Stock performing well and Range Resources 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 Range Resources' 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
PR	1.61	0.13	0.03	0.65	1.96	(1.62)	3.63	(3.31)	9.61
OVV	1.70	(0.07)	0.00	(0.13)	0.00	0.00	3.64	(4.20)	8.88
APA	2.13	(0.02)	(0.02)	0.02	2.62	(2.29)	4.01	(3.82)	14.33
AR	2.05	(0.13)	0.00	(0.08)	0.00	0.00	3.73	(4.65)	12.23
AM	0.92	(0.14)	0.00	(0.46)	0.00	0.00	1.74	(2.04)	4.88
HESM	0.94	(0.03)	(0.05)	0.00	1.37	(0.87)	1.77	(2.11)	4.65
DINO	1.49	(0.09)	0.00	(0.13)	0.00	0.00	3.70	(3.30)	7.95
NFG	0.92	(0.19)	0.00	(1.16)	0.00	0.00	1.72	(1.77)	6.62
CNX	1.49	0.08	0.03	0.24	1.64	(1.71)	2.85	(2.77)	8.32
CHRD	1.64	(0.16)	0.00	(0.25)	0.00	0.00	2.62	(3.80)	9.26

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