Civitas Resources Correlations

CIVI Stock

USD 51.88 0.41 0.80%

The current 90-days correlation between Civitas Resources and Magnolia Oil Gas is 0.87 (i.e., Very poor diversification). The correlation of Civitas Resources 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.

Civitas Resources Correlation With Market

Very weak diversification

The correlation between Civitas Resources and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Civitas Resources 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 Civitas Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more detail on how to invest in Civitas Stock please use our How to Invest in Civitas Resources guide.

Moving together with Civitas Stock

0.89	SD	SandRidge Energy	Pair Corr
0.71	VTLE	Vital Energy	Pair Corr
0.68	APA	APA Corporation	Pair Corr
0.64	BRN	Barnwell Industries	Pair Corr
0.88	BTE	Baytex Energy Corp	Pair Corr
0.79	DVN	Devon Energy	Pair Corr
0.65	EGY	Vaalco Energy	Pair Corr
0.67	GTE	Gran Tierra Energy	Pair Corr
0.7	HPK	Highpeak Energy Acqu	Pair Corr
0.78	KOS	Kosmos Energy	Pair Corr
0.81	MNR	Mach Natural Resources Earnings Call This Week	Pair Corr
0.88	MUR	Murphy Oil Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Civitas Stock

0.49	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.43	EPSN	Epsilon Energy	Pair Corr
0.38	DMLP	Dorchester Minerals	Pair Corr
0.45	EXE	Expand Energy Symbol Change	Pair Corr
0.35	EQT	EQT Corporation	Pair Corr
0.32	CRK	Comstock Resources	Pair Corr
0.37	PHX	PHX Minerals	Pair Corr
0.37	TPL	Texas Pacific Land	Pair Corr

Related Correlations Analysis

	MGY	SM	RRC	CPE	MTDR	MUR	ESTE	SBOW	VTLE
MGY		0.84	0.88	0.52	0.86	-0.15	0.58	-0.03	0.51	MGY
SM	0.84		0.65	0.49	0.83	0.2	0.47	-0.11	0.74	SM
RRC	0.88	0.65		0.51	0.82	-0.29	0.68	-0.13	0.43	RRC
CPE	0.52	0.49	0.51		0.62	-0.33	0.84	-0.22	0.41	CPE
MTDR	0.86	0.83	0.82	0.62		0.01	0.77	-0.25	0.78	MTDR
MUR	-0.15	0.2	-0.29	-0.33	0.01		-0.29	-0.04	0.52	MUR
ESTE	0.58	0.47	0.68	0.84	0.77	-0.29		-0.32	0.53	ESTE
SBOW	-0.03	-0.11	-0.13	-0.22	-0.25	-0.04	-0.32		-0.3	SBOW
VTLE	0.51	0.74	0.43	0.41	0.78	0.52	0.53	-0.3		VTLE
	MGY	SM	RRC	CPE	MTDR	MUR	ESTE	SBOW	VTLE

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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

RRC	+ 0.88	MGY
MTDR	+ 0.86	MGY
SM	+ 0.84	MGY
ESTE	+ 0.84	CPE
MTDR	+ 0.83	SM
MTDR	+ 0.82	RRC

High negative correlations

MUR	- 0.33	CPE
SBOW	- 0.32	ESTE
VTLE	- 0.3	SBOW
ESTE	- 0.29	MUR
MUR	- 0.29	RRC
SBOW	- 0.25	MTDR

Risk-Adjusted Indicators

There is a big difference between Civitas Stock performing well and Civitas Resources 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 Civitas Resources' 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
MGY	1.59	(0.02)	0.01	0.11	2.02	(1.61)	2.89	(3.67)	8.85
SM	1.94	(0.14)	(0.04)	0.00	2.95	(1.65)	3.42	(4.03)	10.08
RRC	1.40	0.19	0.10	0.35	1.47	(1.53)	3.64	(2.66)	8.94
CPE	2.33	(0.02)	(0.03)	0.08	3.03	(2.30)	4.32	(5.23)	12.38
MTDR	1.78	(0.04)	(0.01)	0.09	2.44	(1.74)	3.24	(3.39)	10.94
MUR	1.47	(0.31)	0.00	(0.20)	0.00	0.00	2.83	(3.67)	9.23
ESTE	2.25	0.09	0.01	0.31	2.66	(2.41)	4.37	(4.80)	10.76
SBOW	1.58	0.27	0.05	(0.79)	1.86	(1.98)	3.59	(2.41)	15.61
VTLE	2.67	(0.25)	0.00	(0.08)	0.00	0.00	5.41	(6.77)	17.63

Civitas Resources Corporate Management

Adrian JD	General VP	Profile
Adrian Milton	General VP	Profile
Brian Cain	Chief Sustainability Officer	Profile
Carrie Fox	Independent Director	Profile
Sandra Garbiso	Chief Accounting Officer, Treasurer	Profile

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