USA Compression Correlations

Stocks . USA . 
Stock . USA Compression Partners
USAC Stock  USD 23.72  0.13  0.55%   
The current 90-days correlation between USA Compression Partners and ProPetro Holding Corp is 0.7 (i.e., Poor diversification). The correlation of USA Compression 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.

USA Compression Correlation With Market

Very weak diversification

The correlation between USA Compression Partners and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding USA Compression Partners 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 USA Compression Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with USA Stock

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  0.81EFXT EnerflexPairCorr
  0.86WTTR Select Energy ServicesPairCorr
  0.86BKR Baker Hughes Fiscal Year End 28th of January 2025 PairCorr
  0.75CLB Core LaboratoriesPairCorr
  0.84FTI TechnipFMC PLCPairCorr
  0.87FTK Flotek IndustriesPairCorr
  0.86KGS Kodiak Gas Services,PairCorr
  0.76MRC MRC GlobalPairCorr
  0.79NGS Natural Gas ServicesPairCorr
  0.74OII Oceaneering InternationalPairCorr
  0.89SEI Solaris Energy Infra Symbol ChangePairCorr
  0.65SND Smart SandPairCorr
  0.81TTI Tetra TechnologiesPairCorr
  0.85WHD Cactus IncPairCorr
  0.71GEOS Geospace TechnologiesPairCorr

Moving against USA Stock

  0.59TDW TidewaterPairCorr
  0.58ENSV EnservcoPairCorr
  0.51XPRO Expro Group HoldingsPairCorr
  0.31DTI Drilling Tools InterPairCorr
  0.49VAL ValarisPairCorr
  0.47BOOM Dmc GlobalPairCorr
  0.47BP BP PLC ADRPairCorr
  0.46NESR National Energy ServicesPairCorr
  0.45NESRW National Energy ServicesPairCorr
  0.44E Eni SpA ADRPairCorr
  0.44EC Ecopetrol SA ADRPairCorr
  0.34RCON Recon TechnologyPairCorr

Related Correlations Analysis

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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   
CHX
+ 0.9
PUMP
WHD
+ 0.85
MRC
RES
+ 0.82
PUMP
OIS
+ 0.82
MRC
CHX
+ 0.75
RES
WHD
+ 0.72
OIS
  
High negative correlations   
WHD
- 0.39
XPRO
XPRO
- 0.27
MRC
XPRO
- 0.01
OIS

Risk-Adjusted Indicators

There is a big difference between USA Stock performing well and USA Compression 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 USA Compression'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.

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