Baker Hughes Correlations

BKR Stock

USD 43.95 0.34 0.78%

The current 90-days correlation between Baker Hughes and Schlumberger NV is 0.85 (i.e., Very poor diversification). The correlation of Baker Hughes 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.

Baker Hughes Correlation With Market

Very weak diversification

The correlation between Baker Hughes Co and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baker Hughes Co 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 Baker Hughes Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Baker Stock

0.98	TS	Tenaris SA ADR	Pair Corr
0.93	EFXT	Enerflex	Pair Corr
0.85	CLB	Core Laboratories	Pair Corr
0.9	FTI	TechnipFMC PLC	Pair Corr
0.94	FTK	Flotek Industries	Pair Corr
0.97	KGS	Kodiak Gas Services,	Pair Corr
0.88	MRC	MRC Global	Pair Corr
0.89	NGS	Natural Gas Services	Pair Corr
0.63	NOA	North American Const	Pair Corr
0.86	OII	Oceaneering International	Pair Corr
0.74	OIS	Oil States International	Pair Corr
0.91	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.87	SND	Smart Sand	Pair Corr
0.94	TTI	Tetra Technologies	Pair Corr
0.89	WHD	Cactus Inc	Pair Corr
0.8	GEOS	Geospace Technologies	Pair Corr

Moving against Baker Stock

0.8	TDW	Tidewater	Pair Corr
0.74	XPRO	Expro Group Holdings	Pair Corr
0.54	DTI	Drilling Tools Inter	Pair Corr
0.4	WFRD	Weatherford International	Pair Corr
0.32	ENSV	Enservco	Pair Corr
0.72	VAL	Valaris	Pair Corr
0.72	NESR	National Energy Services	Pair Corr
0.72	BOOM	Dmc Global	Pair Corr
0.7	BP	BP PLC ADR	Pair Corr
0.64	E	Eni SpA ADR	Pair Corr
0.58	DINO	HF Sinclair Corp	Pair Corr
0.57	NESRW	National Energy Services	Pair Corr
0.56	RCON	Recon Technology	Pair Corr
0.45	LBRT	Liberty Oilfield Services Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	SLB	NOV	WFRD	TS	HAL	FTI	DNOW	CHX	OII	VTOL
SLB		0.45	0.31	0.48	0.82	0.69	0.61	0.99	0.69	0.5	SLB
NOV	0.45		0.82	-0.13	0.62	0.22	0.32	0.5	0.42	0.77	NOV
WFRD	0.31	0.82		-0.5	0.35	-0.16	-0.05	0.39	0.01	0.41	WFRD
TS	0.48	-0.13	-0.5		0.51	0.87	0.81	0.41	0.81	0.39	TS
HAL	0.82	0.62	0.35	0.51		0.78	0.75	0.8	0.83	0.74	HAL
FTI	0.69	0.22	-0.16	0.87	0.78		0.87	0.63	0.95	0.61	FTI
DNOW	0.61	0.32	-0.05	0.81	0.75	0.87		0.58	0.9	0.72	DNOW
CHX	0.99	0.5	0.39	0.41	0.8	0.63	0.58		0.65	0.5	CHX
OII	0.69	0.42	0.01	0.81	0.83	0.95	0.9	0.65		0.76	OII
VTOL	0.5	0.77	0.41	0.39	0.74	0.61	0.72	0.5	0.76		VTOL
	SLB	NOV	WFRD	TS	HAL	FTI	DNOW	CHX	OII	VTOL

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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

CHX	+ 0.99	SLB
OII	+ 0.95	FTI
OII	+ 0.9	DNOW
FTI	+ 0.87	TS
DNOW	+ 0.87	FTI
OII	+ 0.83	HAL

High negative correlations

TS	- 0.5	WFRD
FTI	- 0.16	WFRD
TS	- 0.13	NOV
DNOW	- 0.05	WFRD

Risk-Adjusted Indicators

There is a big difference between Baker Stock performing well and Baker Hughes 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 Baker Hughes' 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
SLB	1.33	(0.13)	(0.06)	0.02	1.78	(1.37)	2.72	(3.18)	9.61
NOV	1.25	(0.30)	0.00	(0.13)	0.00	0.00	1.99	(2.72)	11.26
WFRD	2.08	(0.57)	0.00	(0.16)	0.00	0.00	3.51	(4.75)	14.60
TS	1.10	0.35	0.28	0.41	0.69	(1.26)	2.46	(1.95)	11.16
HAL	1.38	(0.10)	(0.04)	0.04	1.84	(1.44)	3.03	(3.67)	10.02
FTI	1.61	0.11	0.05	0.23	2.23	(1.58)	3.52	(3.50)	9.70
DNOW	1.53	0.00	0.08	0.13	1.37	(1.83)	3.55	(2.40)	14.99
CHX	1.38	(0.17)	(0.06)	0.01	1.78	(1.50)	2.87	(3.32)	11.10
OII	2.14	(0.08)	0.02	0.09	2.47	(2.21)	4.23	(4.07)	15.31
VTOL	1.56	(0.14)	(0.05)	0.01	2.17	(1.73)	2.89	(2.86)	12.05

Baker Hughes Corporate Management

Regina Jones	Chief Legal Officer	Profile
Greg Brenneman	Independent Director	Profile
Clarence Cazalot	Independent Director	Profile
Lynn Elsenhans	Independent Director	Profile
Nancy CPA	Chief Officer	Profile

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