Black Stone Correlations

BSM Stock

USD 15.52 0.13 0.84%

The current 90-days correlation between Black Stone Minerals and Dorchester Minerals LP is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Black Stone moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Black Stone Minerals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Black Stone Correlation With Market

Modest diversification

The correlation between Black Stone Minerals and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Black Stone Minerals 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 Black Stone Minerals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Black Stock

0.9	AR	Antero Resources Corp Potential Growth	Pair Corr
0.64	EP	Empire Petroleum Corp	Pair Corr
0.91	PR	Permian Resources	Pair Corr
0.67	SM	SM Energy	Pair Corr
0.77	DMLP	Dorchester Minerals	Pair Corr
0.82	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.9	CRC	California Resources Corp	Pair Corr
0.88	CRK	Comstock Resources	Pair Corr
0.8	DEC	Diversified Energy	Pair Corr
0.86	EOG	EOG Resources	Pair Corr
0.9	EPM	Evolution Petroleum	Pair Corr
0.87	EQT	EQT Corporation	Pair Corr
0.86	EXE	Expand Energy Symbol Change	Pair Corr
0.89	HES	Hess	Pair Corr
0.83	KRP	Kimbell Royalty Partners	Pair Corr
0.88	MGY	Magnolia Oil Gas	Pair Corr

Moving against Black Stock

0.69	BRY	Berry Petroleum Corp	Pair Corr
0.61	BRN	Barnwell Industries	Pair Corr
0.39	EONR	EON Resources Symbol Change	Pair Corr
0.39	APA	APA Corporation	Pair Corr
0.31	DVN	Devon Energy	Pair Corr
0.41	TBN	Tamboran Resources	Pair Corr

Related Correlations Analysis

	DMLP	STR	MVO	VOC	CRT	KRP	SBR	PRT	PXD	DVN
DMLP		0.91	0.03	0.6	0.57	0.8	0.64	0.22	-0.01	-0.5	DMLP
STR	0.91		0.11	0.44	0.46	0.8	0.7	0.2	0.1	-0.29	STR
MVO	0.03	0.11		0.47	0.57	0.33	0.13	0.19	-0.31	0.39	MVO
VOC	0.6	0.44	0.47		0.76	0.63	0.35	0.33	-0.35	-0.18	VOC
CRT	0.57	0.46	0.57	0.76		0.68	0.43	0.33	-0.32	-0.16	CRT
KRP	0.8	0.8	0.33	0.63	0.68		0.65	0.23	-0.19	-0.19	KRP
SBR	0.64	0.7	0.13	0.35	0.43	0.65		0.32	0.5	0.05	SBR
PRT	0.22	0.2	0.19	0.33	0.33	0.23	0.32		0.22	0.12	PRT
PXD	-0.01	0.1	-0.31	-0.35	-0.32	-0.19	0.5	0.22		0.27	PXD
DVN	-0.5	-0.29	0.39	-0.18	-0.16	-0.19	0.05	0.12	0.27		DVN
	DMLP	STR	MVO	VOC	CRT	KRP	SBR	PRT	PXD	DVN

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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

STR	+ 0.91	DMLP
KRP	+ 0.8	DMLP
KRP	+ 0.8	STR
CRT	+ 0.76	VOC
SBR	+ 0.7	STR
KRP	+ 0.68	CRT

High negative correlations

DVN	- 0.5	DMLP
PXD	- 0.35	VOC
PXD	- 0.32	CRT
PXD	- 0.31	MVO
DVN	- 0.29	STR
DVN	- 0.19	KRP

Risk-Adjusted Indicators

There is a big difference between Black Stock performing well and Black Stone 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 Black Stone'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
DMLP	0.94	0.19	0.08	0.91	0.82	(1.05)	2.24	(1.64)	5.91
STR	1.51	0.03	0.01	0.16	1.71	(1.81)	3.96	(2.62)	8.57
MVO	1.09	(0.03)	0.00	0.82	0.00	0.00	2.69	(2.56)	7.24
VOC	1.54	0.03	(0.03)	0.23	2.32	(1.45)	2.78	(4.11)	11.00
CRT	1.83	0.10	0.04	0.25	1.68	(2.28)	4.27	(2.86)	13.90
KRP	0.77	0.02	(0.04)	0.17	1.06	(0.73)	1.98	(1.89)	5.08
SBR	0.75	0.00	(0.08)	0.13	0.81	(0.82)	1.62	(1.38)	5.27
PRT	1.36	(0.11)	0.00	(3.25)	0.00	0.00	2.57	(3.19)	6.63
PXD	1.23	(0.08)	0.00	(0.12)	0.00	0.00	2.43	(2.71)	6.32
DVN	1.31	(0.30)	0.00	(0.37)	0.00	0.00	2.14	(2.99)	7.08

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