Comstock Resources Correlations

CRK Stock

USD 19.92 0.08 0.40%

The current 90-days correlation between Comstock Resources and Range Resources Corp is 0.81 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Comstock Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Comstock Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Comstock Resources Correlation With Market

Average diversification

The correlation between Comstock Resources and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Comstock 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 Comstock 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 metropolitan statistical area.

For more information on how to buy Comstock Stock please use our How to buy in Comstock Stock guide.

Moving together with Comstock Stock

0.84	AR	Antero Resources Corp	Pair Corr
0.82	LB	LandBridge Company	Pair Corr
0.8	SD	SandRidge Energy	Pair Corr
0.7	BSM	Black Stone Minerals	Pair Corr
0.64	COP	ConocoPhillips	Pair Corr
0.86	DVN	Devon Energy	Pair Corr
0.76	EOG	EOG Resources	Pair Corr
0.62	EPM	Evolution Petroleum	Pair Corr
0.78	EQT	EQT Corporation	Pair Corr
0.81	EXE	Expand Energy Symbol Change	Pair Corr
0.66	HES	Hess	Pair Corr
0.73	MGY	Magnolia Oil Gas	Pair Corr

Moving against Comstock Stock

0.5	CNX	CNX Resources Corp	Pair Corr
0.43	CKX	CKX Lands Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RRC	PR	SWN	EQT	ESTE	VTLE	MGY	OBE	AR	CHK
RRC		0.49	0.0	0.94	0.0	0.24	0.62	0.43	0.96	0.0	RRC
PR	0.49		0.0	0.41	0.0	0.87	0.75	0.62	0.49	0.0	PR
SWN	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SWN
EQT	0.94	0.41	0.0		0.0	0.25	0.46	0.28	0.97	0.0	EQT
ESTE	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ESTE
VTLE	0.24	0.87	0.0	0.25	0.0		0.49	0.41	0.3	0.0	VTLE
MGY	0.62	0.75	0.0	0.46	0.0	0.49		0.54	0.51	0.0	MGY
OBE	0.43	0.62	0.0	0.28	0.0	0.41	0.54		0.43	0.0	OBE
AR	0.96	0.49	0.0	0.97	0.0	0.3	0.51	0.43		0.0	AR
CHK	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CHK
	RRC	PR	SWN	EQT	ESTE	VTLE	MGY	OBE	AR	CHK

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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

AR	+ 0.97	EQT
AR	+ 0.96	RRC
EQT	+ 0.94	RRC
VTLE	+ 0.87	PR
MGY	+ 0.75	PR
MGY	+ 0.62	RRC

High negative correlations

CHK	- 0.0	AR
CHK	- 0.0	OBE
CHK	- 0.0	MGY
CHK	- 0.0	VTLE
CHK	- 0.0	ESTE
AR	- 0.0	ESTE

Risk-Adjusted Indicators

There is a big difference between Comstock Stock performing well and Comstock 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 Comstock 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
RRC	1.73	0.23	0.11	0.62	2.24	(1.88)	3.19	(3.61)	12.31
PR	1.70	0.00	0.00	(0.06)	0.00	0.00	3.91	(3.65)	12.33
SWN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EQT	1.81	0.30	0.10	0.40	2.92	(1.75)	3.46	(4.41)	14.83
ESTE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VTLE	2.58	(0.38)	0.00	(0.32)	0.00	0.00	4.42	(6.93)	18.53
MGY	1.52	0.05	0.04	0.01	2.02	(1.54)	2.88	(3.30)	9.02
OBE	2.41	0.14	0.06	0.42	3.10	(2.69)	5.08	(3.50)	23.14
AR	2.00	0.41	0.16	0.76	2.52	(2.26)	4.25	(3.44)	16.13
CHK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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