Berry Petroleum Correlations

BRY Stock

USD 4.16 0.05 1.19%

The current 90-days correlation between Berry Petroleum Corp and Magnolia Oil Gas is 0.68 (i.e., Poor diversification). The correlation of Berry Petroleum 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.

Berry Petroleum Correlation With Market

Good diversification

The correlation between Berry Petroleum Corp and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Berry Petroleum 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 Berry Petroleum 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 Berry Stock

0.74	AR	Antero Resources Corp	Pair Corr
0.81	SD	SandRidge Energy Earnings Call This Week	Pair Corr
0.81	VTLE	Vital Energy	Pair Corr
0.69	EONR	EON Resources Symbol Change	Pair Corr
0.74	EPSN	Epsilon Energy	Pair Corr
0.83	APA	APA Corporation	Pair Corr
0.69	BKV	BKV Corporation	Pair Corr
0.75	CRK	Comstock Resources Potential Growth	Pair Corr
0.72	EQT	EQT Corporation	Pair Corr
0.75	EXE	Expand Energy Symbol Change	Pair Corr
0.68	MNR	Mach Natural Resources	Pair Corr

Moving against Berry Stock

0.62	CNX	CNX Resources Corp	Pair Corr
0.45	CKX	CKX Lands	Pair Corr

Related Correlations Analysis

	CRC	MGY	CRK	GPOR	CRT	VOC	NRT	SBR	PVL
CRC		0.87	-0.49	-0.22	-0.06	0.8	-0.32	-0.29	0.51	CRC
MGY	0.87		-0.3	0.0	0.35	0.51	-0.01	0.11	0.65	MGY
CRK	-0.49	-0.3		0.83	0.26	-0.47	0.59	0.25	0.09	CRK
GPOR	-0.22	0.0	0.83		0.36	-0.33	0.67	0.38	0.26	GPOR
CRT	-0.06	0.35	0.26	0.36		-0.49	0.57	0.73	0.24	CRT
VOC	0.8	0.51	-0.47	-0.33	-0.49		-0.37	-0.54	0.28	VOC
NRT	-0.32	-0.01	0.59	0.67	0.57	-0.37		0.73	0.03	NRT
SBR	-0.29	0.11	0.25	0.38	0.73	-0.54	0.73		-0.12	SBR
PVL	0.51	0.65	0.09	0.26	0.24	0.28	0.03	-0.12		PVL
	CRC	MGY	CRK	GPOR	CRT	VOC	NRT	SBR	PVL

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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

MGY	+ 0.87	CRC
GPOR	+ 0.83	CRK
VOC	+ 0.8	CRC
SBR	+ 0.73	CRT
SBR	+ 0.73	NRT
NRT	+ 0.67	GPOR

High negative correlations

SBR	- 0.54	VOC
VOC	- 0.49	CRT
CRK	- 0.49	CRC
VOC	- 0.47	CRK
NRT	- 0.37	VOC
VOC	- 0.33	GPOR

Risk-Adjusted Indicators

There is a big difference between Berry Stock performing well and Berry Petroleum 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 Berry Petroleum'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
CRC	1.45	(0.33)	0.00	(0.56)	0.00	0.00	3.47	(3.57)	10.17
MGY	1.41	(0.24)	0.00	(0.37)	0.00	0.00	2.31	(3.30)	7.66
CRK	2.71	0.60	0.18	2.97	2.87	(2.93)	6.84	(4.49)	19.21
GPOR	1.49	0.13	0.06	0.35	1.84	(1.54)	3.39	(3.03)	13.64
CRT	1.46	0.00	0.00	0.00	1.71	(1.73)	3.16	(3.01)	9.48
VOC	1.92	(0.54)	0.00	(5.24)	0.00	0.00	2.96	(3.87)	18.80
NRT	2.00	0.23	0.09	1.15	2.14	(2.60)	5.59	(4.65)	17.43
SBR	1.00	0.12	0.08	0.41	1.43	(1.00)	2.14	(2.44)	8.93
PVL	1.48	(0.14)	0.00	6.04	0.00	0.00	3.29	(4.00)	10.66

Berry Petroleum Corporate Executives

Elected by the shareholders, the Berry Petroleum's board of directors comprises two types of representatives: Berry Petroleum inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Berry. The board's role is to monitor Berry Petroleum's management team and ensure that shareholders' interests are well served. Berry Petroleum's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Berry Petroleum's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jeff Magids

VP CFO

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