| SD Stock | | | USD 17.67 0.17 0.95% |
The current 90-days correlation between SandRidge Energy and Ultrapar Participacoes SA is 0.13 (i.e., Average diversification). The correlation of SandRidge Energy 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.
SandRidge Energy Correlation With Market
Very weak diversification
The correlation between SandRidge Energy and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SandRidge Energy and DJI in the same portfolio, assuming nothing else is changed.
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