EON Resources Correlations

EONR Stock

0.80 0.05 6.67%

The current 90-days correlation between EON Resources and Amgen Inc is -0.07 (i.e., Good diversification). The correlation of EON 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. If the correlation is 0, the equities are not correlated; they are entirely random.

EON Resources Correlation With Market

Good diversification

The correlation between EON Resources and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EON Resources 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 EON 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 board of governors.

To learn how to invest in EON Stock, please use our How to Invest in EON Resources guide.

Moving together with EON Stock

0.78	APA	APA Corporation	Pair Corr
0.63	BRN	Barnwell Industries	Pair Corr
0.72	BRY	Berry Petroleum Corp	Pair Corr
0.72	BTE	Baytex Energy Corp	Pair Corr
0.74	DVN	Devon Energy	Pair Corr
0.72	EGY	Vaalco Energy	Pair Corr
0.64	GTE	Gran Tierra Energy	Pair Corr
0.67	KOS	Kosmos Energy	Pair Corr

Moving against EON Stock

0.45	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.43	AR	Antero Resources Corp Potential Growth	Pair Corr
0.42	DMLP	Dorchester Minerals	Pair Corr
0.39	BSM	Black Stone Minerals	Pair Corr
0.32	PR	Permian Resources	Pair Corr
0.53	EQT	EQT Corporation	Pair Corr
0.48	CRK	Comstock Resources	Pair Corr
0.48	EXE	Expand Energy Symbol Change	Pair Corr
0.46	DEC	Diversified Energy	Pair Corr
0.44	CRC	California Resources Corp	Pair Corr
0.44	EPM	Evolution Petroleum	Pair Corr
0.53	TPL	Texas Pacific Land	Pair Corr
0.48	RRC	Range Resources Corp	Pair Corr
0.38	PHX	PHX Minerals	Pair Corr
0.32	STR	Sitio Royalties Corp	Pair Corr

Related Correlations Analysis

	AMGN	UA	NKE	BURL	MMSI	TNDM	FIGS	GAP
AMGN		-0.65	0.5	-0.34	-0.65	0.76	0.5	-0.51	AMGN
UA	-0.65		-0.25	0.01	0.45	-0.71	-0.18	0.56	UA
NKE	0.5	-0.25		0.0	-0.48	0.71	0.63	-0.18	NKE
BURL	-0.34	0.01	0.0		0.57	0.09	-0.57	0.35	BURL
MMSI	-0.65	0.45	-0.48	0.57		-0.51	-0.72	0.38	MMSI
TNDM	0.76	-0.71	0.71	0.09	-0.51		0.4	-0.52	TNDM
FIGS	0.5	-0.18	0.63	-0.57	-0.72	0.4		-0.2	FIGS
GAP	-0.51	0.56	-0.18	0.35	0.38	-0.52	-0.2		GAP
	AMGN	UA	NKE	BURL	MMSI	TNDM	FIGS	GAP

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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

TNDM	+ 0.76	AMGN
TNDM	+ 0.71	NKE
FIGS	+ 0.63	NKE
MMSI	+ 0.57	BURL
GAP	+ 0.56	UA
NKE	+ 0.5	AMGN

High negative correlations

FIGS	- 0.72	MMSI
TNDM	- 0.71	UA
MMSI	- 0.65	AMGN
UA	- 0.65	AMGN
FIGS	- 0.57	BURL
GAP	- 0.52	TNDM

Risk-Adjusted Indicators

There is a big difference between EON Stock performing well and EON 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 EON 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
AMGN	1.10	(0.34)	0.00	(0.22)	0.00	0.00	1.67	(4.16)	9.43
UA	2.57	0.14	0.02	0.39	3.15	(3.47)	5.76	(4.56)	35.20
NKE	1.16	(0.10)	0.00	(0.21)	0.00	0.00	2.37	(2.31)	13.61
BURL	1.36	(0.03)	(0.03)	0.09	2.03	(1.25)	2.37	(2.77)	9.11
MMSI	0.84	0.05	(0.01)	0.23	0.86	(0.90)	2.07	(1.23)	6.42
TNDM	2.40	(0.68)	0.00	(0.43)	0.00	0.00	4.24	(4.60)	12.63
FIGS	2.73	(0.14)	0.00	(0.07)	0.00	0.00	6.45	(4.15)	35.29
GAP	1.98	(0.01)	0.01	0.12	2.17	(2.27)	4.19	(3.80)	15.58

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