Texas Pacific Correlations

TPL Stock

USD 1,637 64.92 4.13%

The current 90-days correlation between Texas Pacific Land and Magnolia Oil Gas is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Texas Pacific moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Texas Pacific Land moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Texas Pacific Correlation With Market

Weak diversification

The correlation between Texas Pacific Land and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Pacific Land and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Texas Pacific Land. 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.

Moving together with Texas Stock

0.8	AR	Antero Resources Corp Potential Growth	Pair Corr
0.71	EP	Empire Petroleum Corp	Pair Corr
0.84	PR	Permian Resources	Pair Corr
0.94	DMLP	Dorchester Minerals	Pair Corr
0.8	BSM	Black Stone Minerals	Pair Corr
0.92	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.9	CRC	California Resources Corp	Pair Corr
0.95	CRK	Comstock Resources	Pair Corr
0.87	DEC	Diversified Energy	Pair Corr
0.7	EOG	EOG Resources	Pair Corr
0.7	EPM	Evolution Petroleum	Pair Corr
0.95	EQT	EQT Corporation	Pair Corr
0.94	EXE	Expand Energy Symbol Change	Pair Corr
0.86	HES	Hess	Pair Corr
0.72	KRP	Kimbell Royalty Partners	Pair Corr
0.86	MGY	Magnolia Oil Gas	Pair Corr

Moving against Texas Stock

0.9	BRN	Barnwell Industries	Pair Corr
0.82	BRY	Berry Petroleum Corp	Pair Corr
0.68	CKX	CKX Lands	Pair Corr
0.66	APA	APA Corporation	Pair Corr
0.5	EONR	EON Resources Symbol Change	Pair Corr
0.43	BTE	Baytex Energy Corp	Pair Corr
0.37	SD	SandRidge Energy	Pair Corr
0.57	DVN	Devon Energy	Pair Corr
0.54	EGY	Vaalco Energy	Pair Corr
0.54	REI	Ring Energy	Pair Corr
0.53	MUR	Murphy Oil Fiscal Year End 23rd of January 2025	Pair Corr
0.49	KOS	Kosmos Energy	Pair Corr
0.47	OXY	Occidental Petroleum	Pair Corr
0.39	MNR	Mach Natural Resources	Pair Corr
0.32	OBE	Obsidian Energy	Pair Corr

Related Correlations Analysis

	MGY	CIVI	CRC	MTDR	CHRD	FANG	AR	CPE	ESTE	VTLE
MGY		-0.09	0.91	0.84	-0.14	0.39	0.83	0.51	0.55	0.45	MGY
CIVI	-0.09		-0.15	0.26	0.98	0.62	-0.19	-0.08	-0.07	0.75	CIVI
CRC	0.91	-0.15		0.84	-0.2	0.14	0.88	0.55	0.69	0.43	CRC
MTDR	0.84	0.26	0.84		0.18	0.41	0.74	0.6	0.74	0.77	MTDR
CHRD	-0.14	0.98	-0.2	0.18		0.6	-0.22	-0.17	-0.16	0.71	CHRD
FANG	0.39	0.62	0.14	0.41	0.6		0.11	0.03	-0.12	0.63	FANG
AR	0.83	-0.19	0.88	0.74	-0.22	0.11		0.39	0.57	0.36	AR
CPE	0.51	-0.08	0.55	0.6	-0.17	0.03	0.39		0.84	0.3	CPE
ESTE	0.55	-0.07	0.69	0.74	-0.16	-0.12	0.57	0.84		0.43	ESTE
VTLE	0.45	0.75	0.43	0.77	0.71	0.63	0.36	0.3	0.43		VTLE
	MGY	CIVI	CRC	MTDR	CHRD	FANG	AR	CPE	ESTE	VTLE

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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

CHRD	+ 0.98	CIVI
CRC	+ 0.91	MGY
AR	+ 0.88	CRC
MTDR	+ 0.84	MGY
MTDR	+ 0.84	CRC
ESTE	+ 0.84	CPE

High negative correlations

AR	- 0.22	CHRD
CHRD	- 0.2	CRC
AR	- 0.19	CIVI
CPE	- 0.17	CHRD
ESTE	- 0.16	CHRD
CRC	- 0.15	CIVI

Risk-Adjusted Indicators

There is a big difference between Texas Stock performing well and Texas Pacific 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 Texas Pacific'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
MGY	1.59	(0.01)	0.01	0.11	1.98	(1.60)	2.89	(3.67)	8.85
CIVI	1.66	(0.37)	0.00	(0.21)	0.00	0.00	2.92	(3.66)	8.85
CRC	1.63	0.05	0.04	0.15	2.03	(1.69)	3.57	(3.15)	9.20
MTDR	1.77	(0.03)	(0.01)	0.09	2.44	(1.72)	3.24	(3.39)	10.94
CHRD	1.29	(0.31)	0.00	(0.25)	0.00	0.00	2.39	(3.22)	7.35
FANG	1.67	(0.21)	0.00	(0.19)	0.00	0.00	3.00	(3.91)	9.60
AR	1.80	0.20	0.09	0.29	2.01	(1.90)	4.91	(2.73)	13.54
CPE	2.33	0.01	(0.03)	0.18	3.03	(2.30)	4.32	(5.23)	12.38
ESTE	2.25	0.17	0.01	(0.75)	2.66	(2.41)	4.37	(4.80)	10.76
VTLE	2.65	(0.27)	0.00	(0.11)	0.00	0.00	5.41	(6.77)	17.63

Texas Pacific Corporate Management

Micheal JD	Secretary VP	Profile
Stephanie Buffington	Chief Accounting Officer	Profile
Eric Oliver	Independent Director	Profile
Sameer Parasnis	Executive Vice President Chief Commercial Officer	Profile
Donald Cook	Independent Director	Profile
Murray Stahl	Independent Director	Profile

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