Peabody Energy Correlations

Stocks . USA . 
Stock . Peabody Energy Corp
BTU Stock  USD 14.00  0.16  1.16%   
The current 90-days correlation between Peabody Energy Corp and Alliance Resource Partners is 0.32 (i.e., Weak diversification). The correlation of Peabody Energy 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.

Peabody Energy Correlation With Market

Significant diversification

The correlation between Peabody Energy Corp and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Peabody Energy 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 Peabody Energy 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 estimate.

Moving together with Peabody Stock

  0.64EE Excelerate EnergyPairCorr
  0.89EU enCore Energy CorpPairCorr
  0.81HP Helmerich and PaynePairCorr
  0.8NE Noble plcPairCorr
  0.79SM SM EnergyPairCorr
  0.81DLNG Dynagas LNG PartnersPairCorr
  0.74DMLP Dorchester MineralsPairCorr
  0.81VIST Vista Oil GasPairCorr
  0.88VIVK VivakorPairCorr
  0.72VNOM Viper Energy UtPairCorr
  0.66VTLE Vital EnergyPairCorr
  0.88EFXT EnerflexPairCorr
  0.82WFRD Weatherford InternationalPairCorr
  0.62FANG Diamondback EnergyPairCorr
  0.79WTTR Select Energy ServicesPairCorr

Moving against Peabody Stock

  0.83AM Antero Midstream PartnersPairCorr
  0.82EC Ecopetrol SA ADRPairCorr
  0.8NC NACCO IndustriesPairCorr
  0.78E Eni SpA ADRPairCorr
  0.76BP BP PLC ADRPairCorr
  0.33AR Antero Resources CorpPairCorr
  0.8CQP Cheniere Energy PartnersPairCorr
  0.67BSM Black Stone MineralsPairCorr
  0.66EPSN Epsilon EnergyPairCorr
  0.47CHX ChampionXPairCorr

Related Correlations Analysis

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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   
HNRG
+ 0.48
NRP
HNRG
+ 0.4
ARLP
ITAYY
+ 0.33
HNRG
ADOOY
+ 0.29
ARLP
ITAYY
+ 0.24
ARLP
ADOOY
+ 0.24
ITAYY
  
High negative correlations   
ITAYY
- 0.55
NC
NC
- 0.16
HNRG
ADOOY
- 0.12
NC
ADOOY
- 0.0
CEIX
ITAYY
- 0.0
CEIX
CEIX
- 0.0
NC

Risk-Adjusted Indicators

There is a big difference between Peabody Stock performing well and Peabody Energy 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 Peabody Energy'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.

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