Bakken Energy Correlations

BKEN Stock  USD 0.0001  0.00  0.00%   
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bakken Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bakken Energy Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bakken 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 income.

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   
AREQT
ARRRC
PRFANG
CTRARRC
ARCTRA
EQTRRC
  
High negative correlations   
DVNPXD
PRPXD
PXDAR
PXDCTRA
PXDEOG
PXDFANG

Risk-Adjusted Indicators

There is a big difference between Bakken Stock performing well and Bakken 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 Bakken 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SWN  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
RRC  1.73  0.23  0.11  0.62  2.24 
 3.19 
 12.31 
EQT  1.81  0.30  0.10  0.40  2.92 
 3.46 
 14.83 
FANG  1.42  0.00  0.00 (0.06) 0.00 
 2.24 
 9.40 
EOG  1.16  0.02  0.04 (0.02) 1.66 
 2.35 
 8.25 
CTRA  1.44  0.23  0.14  0.59  1.62 
 3.01 
 7.66 
AR  2.00  0.41  0.16  0.76  2.52 
 4.25 
 16.13 
PXD  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 
 3.91 
 12.33 
DVN  1.68  0.16  0.09  0.21  2.07 
 2.98 
 12.69