Range Resources Correlations

RRC Stock

USD 36.48 1.09 2.90%

The current 90-days correlation between Range Resources Corp and Permian Resources is 0.54 (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

Excellent diversification

The correlation between Range Resources Corp and DJI is -0.6 (i.e., Excellent 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 real.

Moving together with Range Stock

0.73	AR	Antero Resources Corp	Pair Corr
0.7	VIVK	Vivakor	Pair Corr
0.68	KEY	KEY Petroleum	Pair Corr

Moving against Range Stock

0.5	6BW	BW ENERGY LTD	Pair Corr
0.49	RO1	Caspian Sunrise plc	Pair Corr
0.44	JP9	Japan Petroleum Expl	Pair Corr
0.42	CDA	Canuc Resources Corp	Pair Corr
0.39	EFXT	Enerflex	Pair Corr
0.32	SEPL	Seplat Petroleum Dev	Pair Corr
0.69	VSR	Voltaic Strategic	Pair Corr
0.57	RG8	Regal Asian Investments	Pair Corr
0.54	KKO	Kinetiko Energy	Pair Corr
0.51	C8SN	CANUC RES P	Pair Corr
0.48	IMPTV	Imperial Petroleum 875	Pair Corr
0.42	CDR	Condor Energies	Pair Corr

Related Correlations Analysis

	PR	OVV	APA	AR	AM	HESM	DINO	NFG	CNX	CHRD
PR		0.96	0.88	0.17	0.88	0.87	0.55	0.9	0.54	0.91	PR
OVV	0.96		0.92	0.28	0.89	0.82	0.66	0.87	0.6	0.9	OVV
APA	0.88	0.92		0.27	0.8	0.81	0.52	0.78	0.59	0.9	APA
AR	0.17	0.28	0.27		0.25	0.06	0.1	0.27	0.78	0.42	AR
AM	0.88	0.89	0.8	0.25		0.82	0.63	0.87	0.54	0.77	AM
HESM	0.87	0.82	0.81	0.06	0.82		0.29	0.83	0.37	0.78	HESM
DINO	0.55	0.66	0.52	0.1	0.63	0.29		0.47	0.36	0.44	DINO
NFG	0.9	0.87	0.78	0.27	0.87	0.83	0.47		0.58	0.81	NFG
CNX	0.54	0.6	0.59	0.78	0.54	0.37	0.36	0.58		0.68	CNX
CHRD	0.91	0.9	0.9	0.42	0.77	0.78	0.44	0.81	0.68		CHRD
	PR	OVV	APA	AR	AM	HESM	DINO	NFG	CNX	CHRD

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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	1.53	0.42	0.20	2.63	1.50	(1.76)	3.28	(2.42)	7.79
OVV	1.80	0.29	0.11	0.92	2.02	(2.01)	3.86	(3.83)	8.85
APA	2.09	0.21	0.08	0.43	2.29	(2.28)	3.77	(3.52)	13.20
AR	2.04	0.05	0.00	0.31	2.57	(2.06)	3.88	(3.89)	12.45
AM	0.90	0.30	0.17	(2.68)	0.95	(0.95)	2.50	(1.86)	5.56
HESM	0.96	0.15	0.09	0.60	0.99	(1.02)	2.29	(1.78)	5.02
DINO	1.56	0.08	0.03	0.23	1.54	(1.89)	4.03	(2.57)	7.95
NFG	0.82	0.14	0.09	1.48	0.86	(0.91)	1.72	(1.42)	5.52
CNX	1.61	0.15	0.06	0.66	1.82	(1.78)	3.44	(3.34)	7.84
CHRD	1.82	0.25	0.09	0.58	2.10	(1.90)	3.83	(3.62)	11.01

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