Cross Timbers Correlations

Stocks . USA . 
Stock . Cross Timbers Royalty
CRT Stock  USD 11.71  0.60  5.40%   
The current 90-days correlation between Cross Timbers Royalty and Permian Basin Royalty is 0.38 (i.e., Weak diversification). The correlation of Cross Timbers 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.

Cross Timbers Correlation With Market

Modest diversification

The correlation between Cross Timbers Royalty and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cross Timbers Royalty 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 Cross Timbers Royalty. 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.

Moving together with Cross Stock

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  0.64EPSN Epsilon Energy Potential GrowthPairCorr
  0.78BSM Black Stone MineralsPairCorr
  0.61DVN Devon EnergyPairCorr
  0.7EQT EQT CorporationPairCorr
  0.61EXE Expand Energy Symbol ChangePairCorr
  0.83HES HessPairCorr

Moving against Cross Stock

  0.72CNX CNX Resources CorpPairCorr
  0.67CKX CKX Lands Earnings Call TomorrowPairCorr
  0.56DMLP Dorchester MineralsPairCorr
  0.56CRC California Resources CorpPairCorr
  0.5VIST Vista Oil GasPairCorr
  0.47EGY Vaalco EnergyPairCorr
  0.43SM SM EnergyPairCorr
  0.43DEC Diversified EnergyPairCorr
  0.41EP Empire Petroleum Corp Earnings Call This WeekPairCorr
  0.32BTE Baytex Energy Corp Aggressive PushPairCorr
  0.67GTE Gran Tierra EnergyPairCorr
  0.52HPK Highpeak Energy AcquPairCorr
  0.51GFR Greenfire ResourcesPairCorr
  0.48NOG Northern Oil GasPairCorr
  0.46KOS Kosmos EnergyPairCorr
  0.45MUR Murphy OilPairCorr
  0.43KRP Kimbell Royalty PartnersPairCorr
  0.34VET Vermilion EnergyPairCorr
  0.33MXC Mexco EnergyPairCorr

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   
NRT
+ 0.7
SBR
SJT
+ 0.43
SBR
NRT
+ 0.28
SJT
PBT
+ 0.26
MTR
NRT
+ 0.21
MTR
MTR
+ 0.1
SBR
  
High negative correlations   
PBT
- 0.46
SJT
PBT
- 0.13
SBR
SJT
- 0.04
MTR

Risk-Adjusted Indicators

There is a big difference between Cross Stock performing well and Cross Timbers 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 Cross Timbers' 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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