Barnwell Industries Correlations

BRN Stock

USD 1.68 0.05 2.89%

The current 90-days correlation between Barnwell Industries and Houston American Energy is 0.49 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Barnwell Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Barnwell Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Barnwell Industries Correlation With Market

Average diversification

The correlation between Barnwell Industries and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barnwell Industries 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 Barnwell Industries. 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 Barnwell Stock, please use our How to Invest in Barnwell Industries guide.

Moving together with Barnwell Stock

0.66	AR	Antero Resources Corp	Pair Corr
0.61	COP	ConocoPhillips	Pair Corr
0.65	EPM	Evolution Petroleum	Pair Corr
0.68	EQT	EQT Corporation	Pair Corr
0.67	EXE	Expand Energy Symbol Change	Pair Corr

Moving against Barnwell Stock

0.52	CKX	CKX Lands Earnings Call This Week	Pair Corr
0.49	EP	Empire Petroleum Corp Earnings Call This Week	Pair Corr
0.46	CNX	CNX Resources Corp	Pair Corr

Related Correlations Analysis

	HUSA	MXC	PHX	COCBF	REI	PVL	GTE	EPSN	PNRG
HUSA		0.83	0.2	0.0	0.86	0.03	0.68	-0.22	0.44	HUSA
MXC	0.83		0.15	0.0	0.86	-0.3	0.65	-0.51	0.23	MXC
PHX	0.2	0.15		0.0	0.42	-0.02	0.07	0.18	0.29	PHX
COCBF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	COCBF
REI	0.86	0.86	0.42	0.0		-0.11	0.78	-0.26	0.42	REI
PVL	0.03	-0.3	-0.02	0.0	-0.11		-0.25	0.64	0.06	PVL
GTE	0.68	0.65	0.07	0.0	0.78	-0.25		-0.4	0.32	GTE
EPSN	-0.22	-0.51	0.18	0.0	-0.26	0.64	-0.4		0.23	EPSN
PNRG	0.44	0.23	0.29	0.0	0.42	0.06	0.32	0.23		PNRG
	HUSA	MXC	PHX	COCBF	REI	PVL	GTE	EPSN	PNRG

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

REI	+ 0.86	HUSA
REI	+ 0.86	MXC
MXC	+ 0.83	HUSA
GTE	+ 0.78	REI
GTE	+ 0.68	HUSA
GTE	+ 0.65	MXC

High negative correlations

EPSN	- 0.51	MXC
EPSN	- 0.4	GTE
PVL	- 0.3	MXC
EPSN	- 0.26	REI
GTE	- 0.25	PVL
EPSN	- 0.22	HUSA

Risk-Adjusted Indicators

There is a big difference between Barnwell Stock performing well and Barnwell Industries 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 Barnwell Industries' 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
HUSA	4.51	(0.06)	0.00	(0.10)	0.00	0.00	9.09	(9.65)	64.28
MXC	2.46	(0.37)	0.00	(0.51)	0.00	0.00	4.60	(5.06)	18.18
PHX	1.57	0.08	0.06	0.12	1.70	(1.92)	3.32	(3.12)	8.84
COCBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
REI	2.33	(0.16)	0.00	(0.32)	0.00	0.00	4.23	(5.22)	13.07
PVL	1.53	0.10	0.08	0.68	1.76	(1.97)	3.33	(3.29)	10.66
GTE	2.77	(0.35)	0.00	(0.52)	0.00	0.00	6.02	(5.73)	18.85
EPSN	1.75	0.27	0.14	0.78	1.93	(1.94)	5.04	(3.75)	10.87
PNRG	2.68	0.31	0.10	0.33	3.01	(3.03)	5.43	(5.90)	23.58

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