WT Offshore Correlations

WTI Stock

USD 1.82 0.03 1.62%

The current 90-days correlation between WT Offshore and Evolution Petroleum is 0.54 (i.e., Very weak diversification). The correlation of WT Offshore 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.

WT Offshore Correlation With Market

Significant diversification

The correlation between WT Offshore and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WT Offshore 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 WT Offshore. 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 WTI Stock please use our How to Invest in WT Offshore guide.

Moving together with WTI Stock

0.66	SM	SM Energy	Pair Corr
0.84	EONR	EON Resources Symbol Change	Pair Corr
0.84	FANG	Diamondback Energy	Pair Corr
0.81	BRN	Barnwell Industries	Pair Corr
0.73	BRY	Berry Petroleum Corp	Pair Corr
0.91	BTE	Baytex Energy Corp	Pair Corr
0.85	CNQ	Canadian Natural Res	Pair Corr
0.77	COP	ConocoPhillips	Pair Corr
0.89	DVN	Devon Energy	Pair Corr
0.85	EGY	Vaalco Energy	Pair Corr
0.74	GFR	Greenfire Resources	Pair Corr
0.71	KOS	Kosmos Energy Potential Growth	Pair Corr
0.65	MGY	Magnolia Oil Gas	Pair Corr
0.67	MUR	Murphy Oil Earnings Call This Week	Pair Corr

Moving against WTI Stock

0.73	BKV	BKV Corporation	Pair Corr
0.7	DEC	Diversified Energy	Pair Corr
0.66	VIST	Vista Oil Gas	Pair Corr
0.64	EP	Empire Petroleum Corp	Pair Corr
0.64	CRK	Comstock Resources	Pair Corr
0.53	AR	Antero Resources Corp	Pair Corr
0.72	PHX	PHX Minerals	Pair Corr
0.56	EXE	Expand Energy Symbol Change	Pair Corr
0.53	EQT	EQT Corporation	Pair Corr
0.47	RRC	Range Resources Corp Sell-off Trend	Pair Corr
0.44	GTE	Gran Tierra Energy	Pair Corr

Related Correlations Analysis

	EPM	REI	GTE	ESTE	CPE	PR	PED	RRC	CHK	AR
EPM		0.54	0.01	-0.18	-0.06	0.88	0.13	0.46	-0.32	0.36	EPM
REI	0.54		-0.27	-0.32	-0.38	0.33	0.83	-0.19	0.42	-0.24	REI
GTE	0.01	-0.27		0.79	0.63	0.34	-0.31	0.72	0.08	0.78	GTE
ESTE	-0.18	-0.32	0.79		0.84	0.09	-0.16	0.5	0.21	0.61	ESTE
CPE	-0.06	-0.38	0.63	0.84		0.15	-0.31	0.46	-0.05	0.54	CPE
PR	0.88	0.33	0.34	0.09	0.15		-0.02	0.76	-0.32	0.68	PR
PED	0.13	0.83	-0.31	-0.16	-0.31	-0.02		-0.4	0.74	-0.39	PED
RRC	0.46	-0.19	0.72	0.5	0.46	0.76	-0.4		-0.3	0.98	RRC
CHK	-0.32	0.42	0.08	0.21	-0.05	-0.32	0.74	-0.3		-0.24	CHK
AR	0.36	-0.24	0.78	0.61	0.54	0.68	-0.39	0.98	-0.24		AR
	EPM	REI	GTE	ESTE	CPE	PR	PED	RRC	CHK	AR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

AR	+ 0.98	RRC
PR	+ 0.88	EPM
CPE	+ 0.84	ESTE
PED	+ 0.83	REI
ESTE	+ 0.79	GTE
AR	+ 0.78	GTE

High negative correlations

RRC	- 0.4	PED
AR	- 0.39	PED
CPE	- 0.38	REI
CHK	- 0.32	PR
ESTE	- 0.32	REI
CHK	- 0.32	EPM

Risk-Adjusted Indicators

There is a big difference between WTI Stock performing well and WT Offshore 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 WT Offshore'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
EPM	1.32	0.05	0.02	0.18	1.95	(1.31)	3.21	(3.20)	9.77
REI	2.17	(0.11)	0.00	(0.33)	0.00	0.00	4.92	(3.80)	18.99
GTE	2.41	0.21	0.07	0.91	2.55	(2.71)	5.83	(4.38)	15.86
ESTE	2.25	0.16	0.05	(0.40)	2.66	(2.41)	4.37	(4.80)	10.76
CPE	2.33	0.04	0.00	(0.10)	3.03	(2.30)	4.32	(5.23)	12.38
PR	1.51	0.19	0.09	0.47	1.86	(1.63)	2.90	(3.27)	8.87
PED	1.88	(0.12)	0.00	(0.38)	0.00	0.00	4.00	(3.61)	9.74
RRC	1.47	0.46	0.27	35.73	1.21	(1.74)	4.31	(2.26)	10.24
CHK	1.21	(0.01)	(0.01)	0.00	1.47	(1.29)	2.63	(2.45)	5.88
AR	1.91	0.58	0.23	(6.40)	1.78	(2.06)	5.96	(2.50)	11.64

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC