Cactus Correlations

WHD Stock

USD 68.45 3.16 4.84%

The current 90-days correlation between Cactus Inc and ChampionX is 0.83 (i.e., Very poor diversification). The correlation of Cactus 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.

Cactus Correlation With Market

Very weak diversification

The correlation between Cactus Inc and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cactus Inc 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 Cactus Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Cactus Stock

0.78	TS	Tenaris SA ADR Sell-off Trend	Pair Corr
0.72	EFXT	Enerflex	Pair Corr
0.85	BKR	Baker Hughes Fiscal Year End 28th of January 2025	Pair Corr
0.64	CHX	ChampionX	Pair Corr
0.82	CLB	Core Laboratories	Pair Corr
0.91	FTI	TechnipFMC PLC	Pair Corr
0.78	FTK	Flotek Industries	Pair Corr
0.8	KGS	Kodiak Gas Services,	Pair Corr
0.83	MRC	MRC Global	Pair Corr
0.71	NGS	Natural Gas Services	Pair Corr
0.61	NOA	North American Const	Pair Corr
0.82	OII	Oceaneering International	Pair Corr
0.65	OIS	Oil States International	Pair Corr
0.81	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.62	SLB	Schlumberger NV Aggressive Push	Pair Corr
0.7	SND	Smart Sand	Pair Corr
0.84	TTI	Tetra Technologies	Pair Corr
0.73	GEOS	Geospace Technologies	Pair Corr

Moving against Cactus Stock

0.44	TDW	Tidewater	Pair Corr
0.38	XPRO	Expro Group Holdings	Pair Corr
0.37	ENSV	Enservco	Pair Corr
0.45	EC	Ecopetrol SA ADR	Pair Corr
0.4	NESR	National Energy Services	Pair Corr
0.36	NESRW	National Energy Services	Pair Corr
0.35	KEGX	Key Energy Services	Pair Corr
0.34	BP	BP PLC ADR	Pair Corr
0.33	VAL	Valaris	Pair Corr

Related Correlations Analysis

	CHX	NEX	DRQ	SOI	XPRO	RNGR	MRC	VTOL	RES	NOV
CHX		0.2	0.08	0.19	0.34	0.17	0.64	0.53	0.75	0.57	CHX
NEX	0.2		-0.6	0.45	-0.74	0.92	0.68	0.16	-0.23	-0.23	NEX
DRQ	0.08	-0.6		-0.63	0.73	-0.44	-0.18	0.33	0.11	0.58	DRQ
SOI	0.19	0.45	-0.63		-0.59	0.32	0.25	-0.35	0.28	-0.52	SOI
XPRO	0.34	-0.74	0.73	-0.59		-0.69	-0.22	0.32	0.5	0.71	XPRO
RNGR	0.17	0.92	-0.44	0.32	-0.69		0.76	0.34	-0.31	-0.09	RNGR
MRC	0.64	0.68	-0.18	0.25	-0.22	0.76		0.66	0.16	0.37	MRC
VTOL	0.53	0.16	0.33	-0.35	0.32	0.34	0.66		0.08	0.83	VTOL
RES	0.75	-0.23	0.11	0.28	0.5	-0.31	0.16	0.08		0.29	RES
NOV	0.57	-0.23	0.58	-0.52	0.71	-0.09	0.37	0.83	0.29		NOV
	CHX	NEX	DRQ	SOI	XPRO	RNGR	MRC	VTOL	RES	NOV

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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

RNGR	+ 0.92	NEX
NOV	+ 0.83	VTOL
MRC	+ 0.76	RNGR
RES	+ 0.75	CHX
XPRO	+ 0.73	DRQ
NOV	+ 0.71	XPRO

High negative correlations

XPRO	- 0.74	NEX
RNGR	- 0.69	XPRO
SOI	- 0.63	DRQ
DRQ	- 0.6	NEX
XPRO	- 0.59	SOI
NOV	- 0.52	SOI

Risk-Adjusted Indicators

There is a big difference between Cactus Stock performing well and Cactus 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 Cactus' 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
CHX	1.43	(0.14)	(0.05)	0.00	1.85	(1.52)	2.87	(3.32)	11.10
NEX	2.68	0.47	0.14	0.57	2.99	(2.86)	6.33	(4.55)	17.50
DRQ	1.89	(0.13)	0.00	(0.26)	0.00	0.00	3.57	(4.30)	12.98
SOI	2.52	0.65	0.19	(0.70)	2.11	(3.13)	4.44	(4.19)	43.08
XPRO	2.01	(0.84)	0.00	(0.25)	0.00	0.00	3.21	(4.86)	15.49
RNGR	1.49	0.55	0.32	0.80	1.11	(1.76)	3.98	(2.21)	10.24
MRC	1.49	0.00	0.05	0.09	1.53	(1.71)	3.28	(2.94)	18.83
VTOL	1.54	(0.08)	(0.02)	0.03	2.15	(1.74)	2.89	(2.86)	12.05
RES	2.03	(0.16)	0.00	(0.01)	0.00	0.00	4.29	(4.55)	14.14
NOV	1.23	(0.21)	0.00	(0.08)	0.00	0.00	2.86	(2.72)	10.91

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