Flotek Industries Correlations
| FTK Stock | USD 8.68 0.42 4.62% |
The current 90-days correlation between Flotek Industries and Oil States International is 0.3 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Flotek Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Flotek Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Flotek Industries Correlation With Market
Modest diversification
The correlation between Flotek Industries and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flotek Industries and DJI in the same portfolio, assuming nothing else is changed.
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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
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Risk-Adjusted Indicators
There is a big difference between Flotek Stock performing well and Flotek Industries 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 Flotek Industries' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PUMP | 2.06 | (0.34) | 0.00 | 0.81 | 0.00 | 3.73 | 16.54 | |||
| NEX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| LBRT | 2.05 | (0.30) | 0.00 | (0.45) | 0.00 | 3.01 | 16.65 | |||
| KLXE | 4.52 | (0.22) | 0.00 | (0.31) | 0.00 | 9.27 | 36.60 | |||
| MRC | 1.95 | (0.04) | 0.00 | (0.09) | 0.00 | 3.22 | 12.66 | |||
| OIS | 2.15 | 0.17 | 0.05 | 0.07 | 3.06 | 4.32 | 17.27 | |||
| SOI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RNGR | 1.79 | (0.04) | 0.00 | (0.11) | 0.00 | 3.34 | 11.28 | |||
| DRQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GEOS | 1.94 | (0.35) | 0.00 | (0.40) | 0.00 | 2.85 | 19.90 |