Peabody Energy Correlations

Stocks . USA . 
Stock . Peabody Energy Corp
BTU Stock  USD 14.94  0.30  2.05%   
The current 90-days correlation between Peabody Energy Corp and Alliance Resource Partners is 0.06 (i.e., Significant 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 0.09 (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

  0.96CNR Core Natural Resources, Symbol ChangePairCorr
  0.62DINO HF Sinclair CorpPairCorr
  0.61HP Helmerich and PaynePairCorr
  0.65SM SM EnergyPairCorr
  0.95VIVK VivakorPairCorr
  0.71VNOM Viper Energy UtPairCorr

Moving against Peabody Stock

  0.79AE Adams Resources EnergyPairCorr
  0.79BP BP PLC ADRPairCorr
  0.76AR Antero Resources CorpPairCorr
  0.72EC Ecopetrol SA ADR Earnings Call TodayPairCorr
  0.66ET Energy Transfer LP Sell-off TrendPairCorr
  0.57AM Antero Midstream PartnersPairCorr
  0.46TK TeekayPairCorr
  0.44SD SandRidge Energy Earnings Call This WeekPairCorr
  0.42TS Tenaris SA ADRPairCorr
  0.73BKV BKV CorporationPairCorr
  0.58EPSN Epsilon EnergyPairCorr
  0.5BKR Baker HughesPairCorr
  0.38APA APA CorporationPairCorr
  0.37BRY Berry Petroleum Corp Earnings Call This WeekPairCorr
  0.32IMPPP Imperial PetroleumPairCorr

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   
NC
+ 0.72
ARLP
HNRG
+ 0.45
NRP
ADOOY
+ 0.35
ITAYY
HNRG
+ 0.12
ARLP
ADOOY
+ 0.11
ARLP
ADOOY
+ 0.09
NRP
  
High negative correlations   
ITAYY
- 0.34
HNRG
ADOOY
- 0.22
HNRG
ITAYY
- 0.11
NRP
ITAYY
- 0.09
NC
ITAYY
- 0.08
ARLP
NC
- 0.06
NRP

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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