Core Laboratories Correlations

CLB Stock

USD 15.33 0.07 0.45%

The current 90-days correlation between Core Laboratories and Bristow Group is 0.5 (i.e., Very weak diversification). The correlation of Core Laboratories 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.

Core Laboratories Correlation With Market

Modest diversification

The correlation between Core Laboratories NV and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Laboratories NV 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 Core Laboratories NV. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Core Stock

0.91	EFXT	Enerflex	Pair Corr
0.85	WFRD	Weatherford International	Pair Corr
0.86	WTTR	Select Energy Services	Pair Corr
0.8	DTI	Drilling Tools Inter	Pair Corr
0.83	FTI	TechnipFMC PLC	Pair Corr
0.68	GRO	Brazil Potash Corp	Pair Corr
0.87	HAL	Halliburton	Pair Corr
0.63	KGS	Kodiak Gas Services,	Pair Corr
0.82	MRC	MRC Global	Pair Corr
0.79	NGS	Natural Gas Services Earnings Call This Week	Pair Corr
0.84	NOA	North American Const	Pair Corr
0.9	OII	Oceaneering International	Pair Corr
0.74	XPRO	Expro Group Holdings	Pair Corr
0.88	RES	RPC Inc	Pair Corr
0.82	TDW	Tidewater	Pair Corr
0.64	TTI	Tetra Technologies	Pair Corr
0.86	VAL	Valaris	Pair Corr
0.87	WHD	Cactus Inc	Pair Corr
0.84	GEOS	Geospace Technologies	Pair Corr
0.8	KLXE	KLX Energy Services	Pair Corr
0.88	LBRT	Liberty Oilfield Services	Pair Corr
0.62	NESRW	National Energy Services	Pair Corr

Moving against Core Stock

0.54	EC	Ecopetrol SA ADR	Pair Corr
0.53	AM	Antero Midstream Partners	Pair Corr
0.45	E	Eni SpA ADR	Pair Corr
0.42	BP	BP PLC ADR	Pair Corr
0.32	INVX	Innovex International, Symbol Change	Pair Corr
0.32	USAC	USA Compression Partners	Pair Corr

Related Correlations Analysis

	VTOL	RES	NOV	OII	WHD	DNOW	OIS	GEOS	NR	CCLP
VTOL		0.67	0.62	0.63	0.73	0.11	0.64	0.44	0.0	0.0	VTOL
RES	0.67		0.4	0.83	0.85	-0.21	0.68	0.66	0.0	0.0	RES
NOV	0.62	0.4		0.32	0.38	0.29	0.59	0.02	0.0	0.0	NOV
OII	0.63	0.83	0.32		0.91	-0.45	0.44	0.9	0.0	0.0	OII
WHD	0.73	0.85	0.38	0.91		-0.25	0.43	0.83	0.0	0.0	WHD
DNOW	0.11	-0.21	0.29	-0.45	-0.25		0.18	-0.58	0.0	0.0	DNOW
OIS	0.64	0.68	0.59	0.44	0.43	0.18		0.13	0.0	0.0	OIS
GEOS	0.44	0.66	0.02	0.9	0.83	-0.58	0.13		0.0	0.0	GEOS
NR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NR
CCLP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CCLP
	VTOL	RES	NOV	OII	WHD	DNOW	OIS	GEOS	NR	CCLP

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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

WHD	+ 0.91	OII
GEOS	+ 0.9	OII
WHD	+ 0.85	RES
OII	+ 0.83	RES
GEOS	+ 0.83	WHD
WHD	+ 0.73	VTOL

High negative correlations

GEOS	- 0.58	DNOW
DNOW	- 0.45	OII
DNOW	- 0.25	WHD
DNOW	- 0.21	RES
CCLP	- 0.0	NR
CCLP	- 0.0	GEOS

Risk-Adjusted Indicators

There is a big difference between Core Stock performing well and Core Laboratories 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 Core Laboratories' 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
VTOL	1.51	(0.07)	0.00	(0.16)	0.00	0.00	2.92	(3.16)	16.97
RES	1.72	(0.10)	0.00	(0.26)	0.00	0.00	3.22	(3.92)	9.81
NOV	1.53	0.06	0.03	(0.01)	2.00	(1.68)	2.73	(3.67)	18.44
OII	1.87	(0.19)	0.00	(0.25)	0.00	0.00	2.97	(4.06)	10.81
WHD	1.60	(0.39)	0.00	(0.44)	0.00	0.00	2.72	(3.97)	13.49
DNOW	1.98	0.29	0.12	0.16	2.06	(2.25)	3.11	(3.44)	25.53
OIS	2.15	0.17	0.05	0.07	3.06	(2.25)	4.32	(3.24)	17.27
GEOS	1.94	(0.35)	0.00	(0.40)	0.00	0.00	2.85	(4.08)	19.90
NR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CCLP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Core Laboratories Corporate Management

Gwendolyn MBA	Senior Relations	Profile
J Dumas	Vice President Business Development	Profile
Martha Carnes	Presiding Non-Executive Lead Independent Member of the Supervisory Board	Profile
Monique Eeuwijk	Non-Executive Independent Member of the Supervisory Board	Profile
Jacobus Schouten	Managing Director	Profile

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