Whiting Petroleum Correlations

Pink Sheets . USA . 
Stock . Whiting Petroleum
WLLBW Stock  USD 5.21  0.29  5.27%   
The current 90-days correlation between Whiting Petroleum and Permian Resources is 0.07 (i.e., Significant diversification). The correlation of Whiting Petroleum 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.

Whiting Petroleum Correlation With Market

Average diversification

The correlation between Whiting Petroleum and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Whiting Petroleum and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Whiting Petroleum could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Whiting Petroleum when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Whiting Petroleum - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Whiting Petroleum to buy it.

Moving together with Whiting Pink Sheet

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Moving against Whiting Pink Sheet

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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   
CTRA
+ 0.95
PR
EOG
+ 0.92
PR
CTRA
+ 0.87
EOG
FANG
+ 0.78
DVN
COP
+ 0.77
EOG
COP
+ 0.67
PR
  
High negative correlations   
CTRA
- 0.23
DVN
DVN
- 0.17
PR

Risk-Adjusted Indicators

There is a big difference between Whiting Pink Sheet performing well and Whiting Petroleum 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 Whiting Petroleum'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Whiting Petroleum without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Whiting Petroleum Corporate Management

Lynn PetersonIndependent ChairmanProfile
Scott ReganGen VPProfile
Jason SwarenVP ExecutionProfile
Charles RimerEx COOProfile
Lara KrollVP AccountingProfile
Richard RobuckSVP IRProfile
Daniel BrownCEO PresProfile
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