Amplify Energy Correlations

AMPY Stock

USD 3.75 0.17 4.34%

The correlation of Amplify 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.

Amplify Energy Correlation With Market

Good diversification

The correlation between Amplify Energy Corp and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Energy Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Amplify Energy Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Amplify Stock

0.69	PR	Permian Resources	Pair Corr
0.77	SM	SM Energy	Pair Corr
0.89	DMLP	Dorchester Minerals	Pair Corr
0.95	HPKEW	HighPeak Energy	Pair Corr
0.9	VIST	Vista Oil Gas	Pair Corr
0.73	MTDR	Matador Resources	Pair Corr
0.78	VTLE	Vital Energy	Pair Corr
0.77	NEHC	New Era Helium	Pair Corr
0.74	EONR	EON Resources Symbol Change	Pair Corr
0.7	FANG	Diamondback Energy	Pair Corr
0.76	APA	APA Corporation	Pair Corr
0.77	BKV	BKV Corporation	Pair Corr
0.83	BRY	Berry Petroleum Corp	Pair Corr
0.82	BTE	Baytex Energy Corp	Pair Corr
0.89	CRC	California Resources Corp	Pair Corr
0.86	DEC	Diversified Energy	Pair Corr
0.76	EGY	Vaalco Energy	Pair Corr
0.63	EPM	Evolution Petroleum	Pair Corr
0.97	GFR	Greenfire Resources	Pair Corr
0.88	GTE	Gran Tierra Energy	Pair Corr
0.91	HPK	Highpeak Energy Acqu	Pair Corr

Moving against Amplify Stock

0.64	EPSN	Epsilon Energy	Pair Corr
0.49	BSM	Black Stone Minerals	Pair Corr
0.74	TXO	MorningStar Partners,	Pair Corr
0.5	VRN	Veren Inc Symbol Change	Pair Corr

Related Correlations Analysis

	ESTE	VTLE	CRK	MGY	OBE	SBOW	PR	REI	CIVI
ESTE		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ESTE
VTLE	0.0		0.34	0.49	0.41	0.0	0.87	0.9	0.97	VTLE
CRK	0.0	0.34		0.73	0.56	0.0	0.57	0.51	0.38	CRK
MGY	0.0	0.49	0.73		0.54	0.0	0.75	0.67	0.54	MGY
OBE	0.0	0.41	0.56	0.54		0.0	0.62	0.66	0.44	OBE
SBOW	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SBOW
PR	0.0	0.87	0.57	0.75	0.62	0.0		0.91	0.88	PR
REI	0.0	0.9	0.51	0.67	0.66	0.0	0.91		0.88	REI
CIVI	0.0	0.97	0.38	0.54	0.44	0.0	0.88	0.88		CIVI
	ESTE	VTLE	CRK	MGY	OBE	SBOW	PR	REI	CIVI

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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

CIVI	+ 0.97	VTLE
REI	+ 0.91	PR
REI	+ 0.9	VTLE
CIVI	+ 0.88	PR
CIVI	+ 0.88	REI
PR	+ 0.87	VTLE

High negative correlations

CIVI	- 0.0	SBOW
REI	- 0.0	SBOW
PR	- 0.0	SBOW
SBOW	- 0.0	OBE
SBOW	- 0.0	MGY
SBOW	- 0.0	CRK

Risk-Adjusted Indicators

There is a big difference between Amplify Stock performing well and Amplify 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 Amplify 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
ESTE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VTLE	2.58	(0.38)	0.00	(0.32)	0.00	0.00	4.42	(6.93)	18.53
CRK	2.84	0.35	0.10	0.60	3.59	(2.84)	6.33	(5.45)	21.33
MGY	1.52	0.05	0.04	0.01	2.02	(1.54)	2.88	(3.30)	9.02
OBE	2.41	0.14	0.06	0.42	3.10	(2.69)	5.08	(3.50)	23.14
SBOW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PR	1.70	0.00	0.00	(0.06)	0.00	0.00	3.91	(3.65)	12.33
REI	2.33	(0.16)	0.00	(0.32)	0.00	0.00	4.23	(5.22)	13.07
CIVI	2.46	(0.35)	0.00	(0.47)	0.00	0.00	4.64	(5.49)	23.71

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