Correlation Between CSI Compressco and Ranger Oil
Can any of the company-specific risk be diversified away by investing in both CSI Compressco and Ranger Oil at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining CSI Compressco and Ranger Oil into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CSI Compressco LP and Ranger Oil Corp, you can compare the effects of market volatilities on CSI Compressco and Ranger Oil and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in CSI Compressco with a short position of Ranger Oil. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSI Compressco and Ranger Oil.
Diversification Opportunities for CSI Compressco and Ranger Oil
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CSI and Ranger is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CSI Compressco LP and Ranger Oil Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ranger Oil Corp and CSI Compressco is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on CSI Compressco LP are associated (or correlated) with Ranger Oil. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ranger Oil Corp has no effect on the direction of CSI Compressco i.e., CSI Compressco and Ranger Oil go up and down completely randomly.
Pair Corralation between CSI Compressco and Ranger Oil
If you would invest (100.00) in Ranger Oil Corp on October 15, 2025 and sell it today you would earn a total of 100.00 from holding Ranger Oil Corp or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CSI Compressco LP vs. Ranger Oil Corp
Performance |
| Timeline |
| CSI Compressco LP |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| Ranger Oil Corp |
Risk-Adjusted Performance
Weakest
Weak | Strong |
CSI Compressco and Ranger Oil Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSI Compressco and Ranger Oil
The main advantage of trading using opposite CSI Compressco and Ranger Oil positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSI Compressco position performs unexpectedly, Ranger Oil can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ranger Oil will offset losses from the drop in Ranger Oil's long position.| CSI Compressco vs. GasLog Partners LP | CSI Compressco vs. Innovex International | CSI Compressco vs. Solaris Energy Infrastructure |
| Ranger Oil vs. National Energy Services | Ranger Oil vs. Octave Specialty Group | Ranger Oil vs. NPK International | Ranger Oil vs. Innovex International |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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