Woodside Energy Correlations

WDS Stock

USD 16.35 0.16 0.99%

The current 90-days correlation between Woodside Energy Group and Devon Energy is 0.49 (i.e., Very weak diversification). The correlation of Woodside 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Woodside Energy Correlation With Market

Average diversification

The correlation between Woodside Energy Group and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Woodside Energy Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Woodside Energy Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Woodside Stock

0.72	SD	SandRidge Energy	Pair Corr
0.61	FANG	Diamondback Energy	Pair Corr
0.76	APA	APA Corporation	Pair Corr
0.74	BRN	Barnwell Industries	Pair Corr
0.65	BTE	Baytex Energy Corp Aggressive Push	Pair Corr
0.71	DVN	Devon Energy	Pair Corr
0.85	EGY	Vaalco Energy	Pair Corr
0.61	HPK	Highpeak Energy Acqu	Pair Corr
0.74	KOS	Kosmos Energy	Pair Corr

Moving against Woodside Stock

0.54	LB	LandBridge Company Upward Rally	Pair Corr
0.46	DMLP	Dorchester Minerals	Pair Corr
0.38	EQT	EQT Corporation	Pair Corr
0.34	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.33	EXE	Expand Energy Symbol Change	Pair Corr
0.31	DEC	Diversified Energy	Pair Corr
0.51	TPL	Texas Pacific Land Upward Rally	Pair Corr
0.33	STR	Sitio Royalties Corp	Pair Corr
0.33	GLRI	Glori Energy Technology	Pair Corr
0.32	PHX	PHX Minerals	Pair Corr

Related Correlations Analysis

	DVN	COP	OXY	PR	EOG	CTRA	RRC	MUR
DVN		0.35	0.95	-0.01	0.09	-0.11	-0.38	0.89	DVN
COP	0.35		0.45	0.78	0.81	0.67	0.58	0.41	COP
OXY	0.95	0.45		0.12	0.19	0.04	-0.22	0.89	OXY
PR	-0.01	0.78	0.12		0.93	0.93	0.88	0.07	PR
EOG	0.09	0.81	0.19	0.93		0.89	0.82	0.12	EOG
CTRA	-0.11	0.67	0.04	0.93	0.89		0.89	-0.04	CTRA
RRC	-0.38	0.58	-0.22	0.88	0.82	0.89		-0.27	RRC
MUR	0.89	0.41	0.89	0.07	0.12	-0.04	-0.27		MUR
	DVN	COP	OXY	PR	EOG	CTRA	RRC	MUR

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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

OXY	+ 0.95	DVN
EOG	+ 0.93	PR
CTRA	+ 0.93	PR
MUR	+ 0.89	DVN
MUR	+ 0.89	OXY
CTRA	+ 0.89	EOG

High negative correlations

RRC	- 0.38	DVN
MUR	- 0.27	RRC
RRC	- 0.22	OXY
CTRA	- 0.11	DVN
MUR	- 0.04	CTRA
PR	- 0.01	DVN

Risk-Adjusted Indicators

There is a big difference between Woodside Stock performing well and Woodside 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 Woodside 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DVN	1.29	(0.22)	0.00	(0.18)	0.00	0.00	2.17	(2.95)	7.21
COP	1.25	(0.02)	(0.05)	0.07	1.51	(1.38)	2.59	(3.24)	7.92
OXY	1.15	(0.18)	0.00	(0.18)	0.00	0.00	2.04	(2.77)	7.68
PR	1.64	0.10	0.05	0.21	1.94	(1.79)	2.90	(3.33)	7.95
EOG	1.17	0.05	0.01	0.19	1.36	(1.19)	2.49	(2.88)	7.05
CTRA	1.13	0.14	0.07	0.29	1.27	(1.18)	2.27	(1.94)	8.03
RRC	1.42	0.17	0.09	0.32	1.44	(1.60)	3.64	(2.66)	8.94
MUR	1.53	(0.27)	0.00	(0.14)	0.00	0.00	2.83	(3.67)	9.23

Woodside Energy Corporate Management

Tom BSc	VP Climate	Profile
BCom GradDipCSP	Group Secretary	Profile
Marcela Louzada	Vice Relations	Profile
Fiona BE	Ex Australia	Profile
BA LLB	VP Counsel	Profile
Tony BA	Policy Sustainability	Profile
Andy BE	Executive Development	Profile

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