Tetra Technologies Correlations

TTI Stock

USD 4.04 0.07 1.76%

The current 90-days correlation between Tetra Technologies and MRC Global is 0.36 (i.e., Weak diversification). The correlation of Tetra Technologies 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.

Tetra Technologies Correlation With Market

Weak diversification

The correlation between Tetra Technologies and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tetra Technologies 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 Tetra Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in Tetra Stock please use our How to Invest in Tetra Technologies guide.

Moving together with Tetra Stock

0.86	TS	Tenaris SA ADR Sell-off Trend	Pair Corr
0.87	EFXT	Enerflex	Pair Corr
0.91	BKR	Baker Hughes Fiscal Year End 28th of January 2025	Pair Corr
0.8	CLB	Core Laboratories	Pair Corr
0.85	FTI	TechnipFMC PLC	Pair Corr
0.82	FTK	Flotek Industries	Pair Corr
0.89	KGS	Kodiak Gas Services,	Pair Corr
0.79	MRC	MRC Global	Pair Corr
0.83	NGS	Natural Gas Services	Pair Corr
0.76	OII	Oceaneering International	Pair Corr
0.65	OIS	Oil States International	Pair Corr
0.88	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.79	SND	Smart Sand	Pair Corr
0.84	WHD	Cactus Inc	Pair Corr
0.81	GEOS	Geospace Technologies	Pair Corr

Moving against Tetra Stock

0.59	TDW	Tidewater	Pair Corr
0.54	XPRO	Expro Group Holdings	Pair Corr
0.45	DTI	Drilling Tools Inter	Pair Corr
0.57	NESR	National Energy Services	Pair Corr
0.54	NESRW	National Energy Services	Pair Corr
0.54	EC	Ecopetrol SA ADR	Pair Corr
0.51	BP	BP PLC ADR	Pair Corr
0.47	VAL	Valaris	Pair Corr
0.46	BOOM	Dmc Global	Pair Corr
0.43	DINO	HF Sinclair Corp	Pair Corr
0.35	LBRT	Liberty Oilfield Services Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	MRC	OIS	SOI	RNGR	DRQ	OII	NEX	CHX	FTI	HLX
MRC		0.78	0.25	0.76	-0.18	0.91	0.68	0.64	0.84	0.53	MRC
OIS	0.78		-0.11	0.58	0.21	0.87	0.45	0.65	0.69	0.6	OIS
SOI	0.25	-0.11		0.32	-0.63	0.21	0.45	0.19	0.52	-0.03	SOI
RNGR	0.76	0.58	0.32		-0.44	0.69	0.92	0.17	0.74	0.03	RNGR
DRQ	-0.18	0.21	-0.63	-0.44		-0.12	-0.6	0.08	-0.38	0.35	DRQ
OII	0.91	0.87	0.21	0.69	-0.12		0.6	0.71	0.89	0.58	OII
NEX	0.68	0.45	0.45	0.92	-0.6	0.6		0.2	0.73	-0.05	NEX
CHX	0.64	0.65	0.19	0.17	0.08	0.71	0.2		0.66	0.83	CHX
FTI	0.84	0.69	0.52	0.74	-0.38	0.89	0.73	0.66		0.47	FTI
HLX	0.53	0.6	-0.03	0.03	0.35	0.58	-0.05	0.83	0.47		HLX
	MRC	OIS	SOI	RNGR	DRQ	OII	NEX	CHX	FTI	HLX

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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

NEX	+ 0.92	RNGR
OII	+ 0.91	MRC
FTI	+ 0.89	OII
OII	+ 0.87	OIS
FTI	+ 0.84	MRC
HLX	+ 0.83	CHX

High negative correlations

DRQ	- 0.63	SOI
NEX	- 0.6	DRQ
DRQ	- 0.44	RNGR
FTI	- 0.38	DRQ
DRQ	- 0.18	MRC
OII	- 0.12	DRQ

Risk-Adjusted Indicators

There is a big difference between Tetra Stock performing well and Tetra Technologies 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 Tetra Technologies' 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
MRC	1.49	0.00	0.05	0.09	1.53	(1.71)	3.28	(2.94)	18.83
OIS	2.40	0.01	0.02	0.09	2.68	(2.79)	5.26	(4.37)	15.23
SOI	2.52	0.65	0.19	(0.70)	2.11	(3.13)	4.44	(4.19)	43.08
RNGR	1.49	0.55	0.32	0.80	1.11	(1.76)	3.98	(2.21)	10.24
DRQ	1.89	(0.13)	0.00	(0.26)	0.00	0.00	3.57	(4.30)	12.98
OII	2.09	(0.04)	0.02	0.07	2.47	(2.23)	4.35	(4.07)	15.31
NEX	2.68	0.47	0.14	0.57	2.99	(2.86)	6.33	(4.55)	17.50
CHX	1.43	(0.14)	(0.05)	0.00	1.85	(1.52)	2.87	(3.32)	11.10
FTI	1.54	0.09	0.04	0.17	2.21	(1.46)	3.31	(3.50)	9.70
HLX	1.95	(0.07)	0.01	0.05	2.30	(2.00)	5.47	(3.94)	11.37

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