Enerflex Correlations

EFXT Stock

USD 7.48 0.06 0.81%

The current 90-days correlation between Enerflex and Archrock is 0.62 (i.e., Poor diversification). The correlation of Enerflex 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.

Enerflex Correlation With Market

Modest diversification

The correlation between Enerflex and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enerflex and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enerflex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

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

Moving together with Enerflex Stock

0.85	WFRD	Weatherford International	Pair Corr
0.88	WTTR	Select Energy Services	Pair Corr
0.87	CLB	Core Laboratories	Pair Corr
0.75	DTI	Drilling Tools Inter	Pair Corr
0.86	FTI	TechnipFMC PLC	Pair Corr
0.76	HAL	Halliburton	Pair Corr
0.62	HLX	Helix Energy Solutions	Pair Corr
0.65	KGS	Kodiak Gas Services,	Pair Corr
0.78	MRC	MRC Global	Pair Corr
0.86	NGS	Natural Gas Services	Pair Corr
0.92	NOA	North American Const	Pair Corr
0.96	OII	Oceaneering International	Pair Corr
0.74	XPRO	Expro Group Holdings Sell-off Trend	Pair Corr
0.82	RES	RPC Inc	Pair Corr
0.89	TDW	Tidewater	Pair Corr
0.86	VAL	Valaris	Pair Corr
0.9	WHD	Cactus Inc	Pair Corr
0.88	GEOS	Geospace Technologies	Pair Corr
0.69	KLXE	KLX Energy Services	Pair Corr
0.89	LBRT	Liberty Oilfield Services	Pair Corr
0.71	NESR	National Energy Services	Pair Corr

Moving against Enerflex Stock

0.54	INVX	Innovex International, Symbol Change	Pair Corr
0.54	E	Eni SpA ADR	Pair Corr

Related Correlations Analysis

	NGS	AROC	GEOS	NR	DRQ	FET	CCLP	DNOW	VTOL	MRC
NGS		0.73	0.68	0.0	0.0	0.21	0.0	-0.07	0.78	0.78	NGS
AROC	0.73		0.17	0.0	0.0	0.65	0.0	0.21	0.63	0.76	AROC
GEOS	0.68	0.17		0.0	0.0	-0.46	0.0	-0.5	0.37	0.61	GEOS
NR	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NR
DRQ	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	DRQ
FET	0.21	0.65	-0.46	0.0	0.0		0.0	0.54	0.34	0.17	FET
CCLP	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CCLP
DNOW	-0.07	0.21	-0.5	0.0	0.0	0.54	0.0		0.23	-0.14	DNOW
VTOL	0.78	0.63	0.37	0.0	0.0	0.34	0.0	0.23		0.45	VTOL
MRC	0.78	0.76	0.61	0.0	0.0	0.17	0.0	-0.14	0.45		MRC
	NGS	AROC	GEOS	NR	DRQ	FET	CCLP	DNOW	VTOL	MRC

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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

VTOL	+ 0.78	NGS
MRC	+ 0.78	NGS
MRC	+ 0.76	AROC
AROC	+ 0.73	NGS
GEOS	+ 0.68	NGS
FET	+ 0.65	AROC

High negative correlations

DNOW	- 0.5	GEOS
FET	- 0.46	GEOS
MRC	- 0.14	DNOW
DNOW	- 0.07	NGS
MRC	- 0.0	CCLP
VTOL	- 0.0	CCLP

Risk-Adjusted Indicators

There is a big difference between Enerflex Stock performing well and Enerflex 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 Enerflex'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NGS	2.23	(0.02)	0.00	(0.11)	0.00	0.00	4.81	(5.17)	13.69
AROC	2.16	0.17	0.04	0.06	3.49	(1.91)	3.91	(6.34)	15.51
GEOS	1.99	(0.38)	0.00	(0.46)	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
DRQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FET	2.25	0.49	0.18	0.27	2.27	(2.55)	4.77	(3.74)	17.06
CCLP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DNOW	1.90	0.19	0.07	0.06	2.17	(2.11)	2.70	(3.44)	25.53
VTOL	1.60	(0.06)	0.00	(0.17)	0.00	0.00	3.74	(3.16)	16.97
MRC	1.86	(0.07)	0.00	(0.14)	0.00	0.00	3.22	(4.41)	12.66

Enerflex Corporate Management

Jeffrey CFA	Vice Relations	Profile
Stefan Ali	Risk Strategy	Profile
David Izett	Senior Counsel	Profile
Patricia Martinez	Chief Officer	Profile

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