Borr Drilling Correlations

BORR Stock

USD 2.42 0.10 4.31%

The correlation of Borr Drilling 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.

Borr Drilling Correlation With Market

Modest diversification

The correlation between Borr Drilling and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Borr Drilling 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 Borr Drilling. 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.

To learn how to invest in Borr Stock, please use our How to Invest in Borr Drilling guide.

Moving together with Borr Stock

0.82	HP	Helmerich and Payne	Pair Corr
0.89	NE	Noble plc	Pair Corr
0.87	NBR	Nabors Industries	Pair Corr
0.92	PDS	Precision Drilling	Pair Corr
0.89	RIG	Transocean Aggressive Push	Pair Corr
0.97	SDRL	Seadrill Limited	Pair Corr
0.7	DK	Delek Energy	Pair Corr
0.66	EE	Excelerate Energy	Pair Corr
0.67	PR	Permian Resources	Pair Corr
0.88	SM	SM Energy	Pair Corr
0.87	DLNG	Dynagas LNG Partners	Pair Corr
0.87	DMLP	Dorchester Minerals	Pair Corr
0.85	VIST	Vista Oil Gas	Pair Corr
0.8	VIVK	Vivakor	Pair Corr
0.81	VNOM	Viper Energy Ut	Pair Corr
0.78	VTLE	Vital Energy	Pair Corr
0.93	EFXT	Enerflex	Pair Corr
0.63	EONR	EON Resources Symbol Change	Pair Corr

Moving against Borr Stock

0.79	AM	Antero Midstream Partners	Pair Corr
0.72	E	Eni SpA ADR	Pair Corr
0.71	EC	Ecopetrol SA ADR	Pair Corr
0.65	BP	BP PLC ADR	Pair Corr
0.6	DNOW	Now Inc	Pair Corr
0.35	SOC	Sable Offshore Corp	Pair Corr
0.76	CQP	Cheniere Energy Partners	Pair Corr
0.65	EPSN	Epsilon Energy	Pair Corr
0.59	BSM	Black Stone Minerals	Pair Corr
0.41	CHX	ChampionX	Pair Corr

Related Correlations Analysis

	NE	DO	PTEN	NBR	SDRL	RIG
NE		0.0	0.57	0.94	0.93	0.98	NE
DO	0.0		0.0	0.0	0.0	0.0	DO
PTEN	0.57	0.0		0.42	0.32	0.55	PTEN
NBR	0.94	0.0	0.42		0.93	0.94	NBR
SDRL	0.93	0.0	0.32	0.93		0.92	SDRL
RIG	0.98	0.0	0.55	0.94	0.92		RIG
	NE	DO	PTEN	NBR	SDRL	RIG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

RIG	+ 0.98	NE
NBR	+ 0.94	NE
RIG	+ 0.94	NBR
SDRL	+ 0.93	NE
SDRL	+ 0.93	NBR
RIG	+ 0.92	SDRL

High negative correlations

RIG	- 0.0	DO
SDRL	- 0.0	DO
NBR	- 0.0	DO
PTEN	- 0.0	DO
DO	- 0.0	NE

Risk-Adjusted Indicators

There is a big difference between Borr Stock performing well and Borr Drilling 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 Borr Drilling'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
NE	1.87	(0.28)	0.00	(0.31)	0.00	0.00	3.30	(4.19)	13.82
DO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PTEN	2.33	0.25	0.08	0.15	2.76	(2.58)	5.03	(4.04)	14.39
NBR	3.10	(0.51)	0.00	(0.45)	0.00	0.00	6.00	(6.51)	14.71
SDRL	1.94	(0.62)	0.00	(0.77)	0.00	0.00	3.06	(5.41)	13.22
RIG	2.54	(0.28)	0.00	(0.37)	0.00	0.00	5.16	(4.36)	14.82

Borr Drilling Corporate Management

Andreas Lie	VP IR	Profile
Mi Yoon	Company Secretary, Director	Profile
Tor Troim	Vice Chairman of the Board	Profile
Jan Rask	Independent Director	Profile
Neil Glass	Independent Director	Profile
Paal Kibsgaard	Chairman of the Board	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC