Helix Energy Correlations
| HLX Stock | USD 8.65 0.04 0.46% |
The current 90-days correlation between Helix Energy Solutions and Oceaneering International is 0.66 (i.e., Poor diversification). The correlation of Helix Energy 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.
Helix Energy Correlation With Market
Weak diversification
The correlation between Helix Energy Solutions and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Helix Energy Solutions and DJI in the same portfolio, assuming nothing else is changed.
Helix |
Moving together with Helix Stock
| 0.62 | EFXT | Enerflex | PairCorr |
| 0.85 | GRO | Brazil Potash Corp Trending | PairCorr |
| 0.63 | HAL | Halliburton Aggressive Push | PairCorr |
| 0.79 | NOA | North American Const | PairCorr |
| 0.64 | OII | Oceaneering International | PairCorr |
| 0.75 | GEOS | Geospace Technologies | PairCorr |
| 0.61 | LBRT | Liberty Oilfield Services | PairCorr |
Moving against Helix Stock
| 0.5 | SLB | Schlumberger NV | PairCorr |
| 0.48 | CHX | ChampionX | PairCorr |
| 0.4 | FET | Forum Energy Technologies | PairCorr |
| 0.37 | BKR | Baker Hughes | PairCorr |
| 0.73 | EC | Ecopetrol SA ADR | PairCorr |
| 0.59 | AM | Antero Midstream Partners | PairCorr |
| 0.59 | BP | BP PLC ADR | PairCorr |
| 0.55 | USAC | USA Compression Partners | PairCorr |
| 0.49 | E | Eni SpA ADR | PairCorr |
| 0.39 | INVX | Innovex International, Symbol Change | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Helix Stock performing well and Helix Energy 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 Helix Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| OII | 1.88 | (0.15) | 0.00 | (0.17) | 0.00 | 3.02 | 10.81 | |||
| DRQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RES | 1.70 | (0.07) | 0.00 | (0.17) | 0.00 | 3.22 | 9.81 | |||
| OIS | 2.15 | 0.19 | 0.06 | 0.13 | 3.08 | 4.32 | 17.27 | |||
| FTI | 1.64 | 0.01 | 0.00 | (0.03) | 0.00 | 3.30 | 11.10 | |||
| RNGR | 1.76 | 0.02 | 0.03 | (0.08) | 2.40 | 3.34 | 11.28 | |||
| VTOL | 1.55 | (0.06) | 0.00 | (0.11) | 0.00 | 2.92 | 16.97 | |||
| NOV | 1.56 | 0.10 | 0.05 | 0.05 | 2.00 | 3.28 | 18.44 |