TechnipFMC PLC Correlations

Stocks . USA . 
Stock . TechnipFMC PLC
FTI Stock  USD 29.15  0.14  0.48%   
The current 90-days correlation between TechnipFMC PLC and NOV Inc is 0.36 (i.e., Weak diversification). The correlation of TechnipFMC PLC 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.

TechnipFMC PLC Correlation With Market

Very weak diversification

The correlation between TechnipFMC PLC and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TechnipFMC PLC 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 TechnipFMC PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.
For more detail on how to invest in TechnipFMC Stock please use our How to Invest in TechnipFMC PLC guide.

Moving together with TechnipFMC Stock

  0.72TS Tenaris SA ADRPairCorr
  0.72VTOL Bristow GroupPairCorr
  0.86EFXT EnerflexPairCorr
  0.79WFRD Weatherford InternationalPairCorr
  0.83CLB Core LaboratoriesPairCorr
  0.62DTI Drilling Tools InterPairCorr
  0.78HAL HalliburtonPairCorr
  0.78KGS Kodiak Gas Services,PairCorr
  0.78MRC MRC GlobalPairCorr
  0.86NGS Natural Gas ServicesPairCorr
  0.7NOA North American ConstPairCorr
  0.89OII Oceaneering InternationalPairCorr
  0.68OIS Oil States InternationalPairCorr
  0.84XPRO Expro Group HoldingsPairCorr
  0.88RES RPC IncPairCorr
  0.86TDW TidewaterPairCorr
  0.77TTI Tetra TechnologiesPairCorr
  0.87VAL ValarisPairCorr
  0.86WHD Cactus IncPairCorr
  0.69GEOS Geospace TechnologiesPairCorr
  0.69KLXE KLX Energy ServicesPairCorr
  0.81LBRT Liberty Oilfield ServicesPairCorr
  0.71NESRW National Energy ServicesPairCorr
  0.75NESR National Energy ServicesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
CLB
+ 0.9
OII
FLS
+ 0.88
OII
CLB
+ 0.8
FLS
FLS
+ 0.5
NOV
NOV
+ 0.35
OII
CLB
+ 0.3
NOV
  
High negative correlations   
CLB
- 0.0
DRQ
DRQ
- 0.0
FLS
DRQ
- 0.0
NOV
DRQ
- 0.0
OII

Risk-Adjusted Indicators

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY