SandRidge Energy Correlations

Stocks . USA . 
Stock . SandRidge Energy
SD Stock  USD 16.79  0.67  4.16%   
The current 90-days correlation between SandRidge Energy and GeoPark is 0.38 (i.e., Weak 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 0.45 (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.
  
Build AI portfolio with SandRidge Stock
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SandRidge Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.
For information on how to trade SandRidge Stock refer to our How to Trade SandRidge Stock guide.

Moving together with SandRidge Stock

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  0.85CNQ Canadian Natural ResPairCorr
  0.74COP ConocoPhillipsPairCorr
  0.63EOG EOG ResourcesPairCorr
  0.88INR Infinity Natural ResPairCorr
  0.72IPO InPlay Oil CorpPairCorr
  0.61RF1 Regal InvestmentPairCorr
  0.71MBFJF Mitsubishi UFJ FinancialPairCorr
  0.82JPSTF JAPAN POST BANK Earnings Call This WeekPairCorr
  0.66MZHOF Mizuho FinancialPairCorr
  0.69RCKY Rocky BrandsPairCorr
  0.76OBYCF Obayashi Earnings Call This WeekPairCorr
  0.65BNKHF BOC Hong KongPairCorr

Moving against SandRidge Stock

  0.72PBCRY Bank Central AsiaPairCorr
  0.66PCI Perpetual Credit IncomePairCorr
  0.39BROGF BROGFPairCorr
  0.38NVNIW Nvni Group LimitedPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between SandRidge Stock performing well and SandRidge Energy 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 SandRidge Energy'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GPRK  1.87  0.04  0.00  0.39  2.26 
(2.05)
 4.21 
(2.75)
 15.62 
TBN  2.09  0.15  0.05  0.40  2.23 
(2.48)
 4.46 
(3.26)
 14.63 
EGY  1.96  0.52  0.24 (34.61) 1.68 
(2.69)
 5.48 
(3.33)
 10.23 
REPX  1.73  0.11  0.04  0.23  2.12 
(1.73)
 4.57 
(3.29)
 10.71 
OBE  2.32  0.38  0.12  3.81  2.53 
(2.39)
 5.16 
(4.05)
 12.32 
SGU  0.89  0.24  0.17  4.15  0.89 
(1.00)
 2.10 
(1.45)
 6.43 
NOA  1.73  0.01 (0.01)(0.03) 2.62 
(1.74)
 3.61 
(4.12)
 11.20 
GFR  2.94  0.20  0.04 (0.39) 3.57 
(3.22)
 5.87 
(6.78)
 14.81 
WTI  2.71  0.06  0.01 (0.82) 2.75 
(3.38)
 6.28 
(4.55)
 15.72 
OIS  1.96  0.52  0.24  0.42  1.74 
(2.33)
 5.17 
(3.42)
 11.62 

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