SBM Offshore Correlations

SBFFY Stock

USD 17.90 0.40 2.29%

The current 90-days correlation between SBM Offshore NV and Expro Group Holdings is -0.03 (i.e., Good diversification). The correlation of SBM Offshore 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SBM Offshore Correlation With Market

Significant diversification

The correlation between SBM Offshore NV and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SBM Offshore NV and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SBM Offshore could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SBM Offshore when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SBM Offshore - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SBM Offshore NV to buy it.

Moving together with SBM Pink Sheet

0.69

906548CR1

US906548CR12

Pair Corr

Moving against SBM Pink Sheet

0.73	VIST	Vista Oil Gas	Pair Corr
0.71	BAMXF	Bayerische Motoren Werke	Pair Corr
0.66	GILT	Gilat Satellite Networks	Pair Corr
0.63	PLTR	Palantir Technologies Earnings Call This Week	Pair Corr
0.62	TNRSF	Tenaris SA	Pair Corr
0.62	LPTH	LightPath Technologies Earnings Call This Week	Pair Corr
0.51	PYPL	PayPal Holdings Earnings Call This Week	Pair Corr
0.49	TS	Tenaris SA ADR	Pair Corr
0.43	FTI	TechnipFMC PLC	Pair Corr
0.43	CHKP	Check Point Software Earnings Call This Week	Pair Corr
0.37	V	Visa Class A	Pair Corr

Related Correlations Analysis

	XPRO	CHX	RNGR	WHD	MRC	VTOL	OIS	GEOS	WFRD
XPRO		0.69	0.4	0.47	0.51	0.57	0.53	0.21	0.34	XPRO
CHX	0.69		0.42	0.87	0.63	0.83	0.65	0.54	0.69	CHX
RNGR	0.4	0.42		0.49	0.84	0.48	0.89	-0.33	-0.14	RNGR
WHD	0.47	0.87	0.49		0.57	0.9	0.74	0.51	0.73	WHD
MRC	0.51	0.63	0.84	0.57		0.48	0.78	-0.17	-0.03	MRC
VTOL	0.57	0.83	0.48	0.9	0.48		0.75	0.53	0.73	VTOL
OIS	0.53	0.65	0.89	0.74	0.78	0.75		0.01	0.22	OIS
GEOS	0.21	0.54	-0.33	0.51	-0.17	0.53	0.01		0.85	GEOS
WFRD	0.34	0.69	-0.14	0.73	-0.03	0.73	0.22	0.85		WFRD
	XPRO	CHX	RNGR	WHD	MRC	VTOL	OIS	GEOS	WFRD

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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

VTOL	+ 0.9	WHD
OIS	+ 0.89	RNGR
WHD	+ 0.87	CHX
WFRD	+ 0.85	GEOS
MRC	+ 0.84	RNGR
VTOL	+ 0.83	CHX

High negative correlations

GEOS	- 0.33	RNGR
GEOS	- 0.17	MRC
WFRD	- 0.14	RNGR
WFRD	- 0.03	MRC

Risk-Adjusted Indicators

There is a big difference between SBM Pink Sheet performing well and SBM Offshore 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 SBM Offshore'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
XPRO	1.99	(0.16)	0.00	(0.12)	0.00	0.00	3.70	(4.76)	20.57
CHX	1.41	(0.06)	0.00	(0.03)	0.00	0.00	2.85	(2.87)	14.33
RNGR	1.67	0.40	0.17	0.61	1.84	(1.97)	4.42	(3.11)	11.52
WHD	1.56	0.02	(0.01)	0.10	1.85	(1.72)	3.55	(2.51)	16.96
MRC	1.54	0.22	0.12	0.34	1.45	(1.81)	3.28	(2.94)	18.83
VTOL	1.42	(0.08)	0.00	(0.04)	0.00	0.00	2.92	(2.98)	14.67
OIS	2.16	0.24	0.08	0.49	2.34	(2.52)	5.15	(3.91)	16.39
GEOS	2.34	(0.29)	0.00	(0.86)	0.00	0.00	3.54	(4.19)	27.12
WFRD	1.89	(0.40)	0.00	(0.44)	0.00	0.00	3.51	(3.57)	16.10

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Our tools can tell you how much better you can do entering a position in SBM Offshore without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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SBM Offshore Corporate Management

Vincent Kempkes	Group Director	Profile
M GuerinMoens	Group Director	Profile
Sverine Baudic	Managing Services	Profile
Olivier Icyk	Managing Solutions	Profile
Oivind Tangen	COO Board	Profile

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