Antero Resources Correlations

AR Stock

USD 39.84 0.31 0.77%

The correlation of Antero Resources 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.

Antero Resources Correlation With Market

Significant diversification

The correlation between Antero Resources Corp and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Antero Resources 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 Antero Resources 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 metropolitan statistical area.

Moving together with Antero Stock

0.78	SD	SandRidge Energy	Pair Corr
0.75	VTLE	Vital Energy Earnings Call This Week	Pair Corr
0.8	EPSN	Epsilon Energy	Pair Corr
0.7	APA	APA Corporation Earnings Call This Week	Pair Corr
0.88	BKV	BKV Corporation	Pair Corr
0.68	BRY	Berry Petroleum Corp	Pair Corr
0.9	CRK	Comstock Resources	Pair Corr
0.98	EQT	EQT Corporation	Pair Corr
0.97	EXE	Expand Energy Symbol Change	Pair Corr
0.78	MNR	Mach Natural Resources	Pair Corr

Moving against Antero Stock

0.85	CNX	CNX Resources Corp	Pair Corr
0.82	CKX	CKX Lands	Pair Corr
0.63	EGY	Vaalco Energy	Pair Corr
0.58	CRC	California Resources Corp	Pair Corr
0.39	CNQ	Canadian Natural Res	Pair Corr
0.37	STR	Sitio Royalties Corp	Pair Corr
0.34	MGY	Magnolia Oil Gas	Pair Corr

Related Correlations Analysis

	SWN	CHK	EQT	MTDR	FANG	CPE	ESTE	VTLE	RRC	CRK
SWN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SWN
CHK	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CHK
EQT	0.0	0.0		0.6	-0.03	0.0	0.0	0.75	0.96	0.84	EQT
MTDR	0.0	0.0	0.6		0.71	0.0	0.0	0.91	0.72	0.56	MTDR
FANG	0.0	0.0	-0.03	0.71		0.0	0.0	0.47	0.1	-0.09	FANG
CPE	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CPE
ESTE	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ESTE
VTLE	0.0	0.0	0.75	0.91	0.47	0.0	0.0		0.83	0.68	VTLE
RRC	0.0	0.0	0.96	0.72	0.1	0.0	0.0	0.83		0.9	RRC
CRK	0.0	0.0	0.84	0.56	-0.09	0.0	0.0	0.68	0.9		CRK
	SWN	CHK	EQT	MTDR	FANG	CPE	ESTE	VTLE	RRC	CRK

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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

RRC	+ 0.96	EQT
VTLE	+ 0.91	MTDR
CRK	+ 0.9	RRC
CRK	+ 0.84	EQT
RRC	+ 0.83	VTLE
VTLE	+ 0.75	EQT

High negative correlations

CRK	- 0.09	FANG
FANG	- 0.03	EQT
CRK	- 0.0	ESTE
RRC	- 0.0	ESTE
VTLE	- 0.0	ESTE
CRK	- 0.0	CPE

Risk-Adjusted Indicators

There is a big difference between Antero Stock performing well and Antero Resources 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 Antero Resources' 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
SWN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CHK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EQT	1.68	0.41	0.18	1.90	1.96	(1.98)	5.12	(2.59)	16.42
MTDR	1.48	0.03	0.01	0.12	2.14	(1.36)	2.35	(3.18)	9.52
FANG	1.34	(0.21)	0.00	(1.07)	0.00	0.00	2.21	(3.19)	7.04
CPE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ESTE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VTLE	1.99	0.17	0.07	0.34	2.37	(2.16)	4.42	(4.48)	10.36
RRC	1.53	0.26	0.13	1.12	1.77	(1.69)	4.31	(2.75)	13.12
CRK	2.63	0.57	0.18	(9.82)	2.77	(2.90)	6.84	(4.49)	19.21

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