Innovex International, Correlations

INVX Stock

16.62 0.87 5.52%

The current 90-days correlation between Innovex International, and Getty Realty is -0.03 (i.e., Good diversification). The correlation of Innovex International, 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.

Innovex International, Correlation With Market

Average diversification

The correlation between Innovex International, and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovex International, and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Innovex International,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Innovex Stock

0.79	VTOL	Bristow Group	Pair Corr
0.63	WFRD	Weatherford International	Pair Corr
0.77	CHX	ChampionX	Pair Corr
0.68	CLB	Core Laboratories	Pair Corr
0.81	HAL	Halliburton Earnings Call This Week	Pair Corr
0.78	HLX	Helix Energy Solutions	Pair Corr
0.8	NOV	NOV Inc	Pair Corr
0.7	OII	Oceaneering International	Pair Corr
0.77	SLB	Schlumberger NV Earnings Call This Week	Pair Corr
0.71	WHD	Cactus Inc	Pair Corr
0.79	KLXE	KLX Energy Services	Pair Corr
0.63	NINE	Nine Energy Service	Pair Corr

Moving against Innovex Stock

0.33

ENSV

Enservco

Pair Corr

Related Correlations Analysis

	GTY	BJRI	SPG-PJ	SMIZF	OHTR	LULU	BALY	SCSC
GTY		0.42	0.53	-0.67	0.0	-0.38	-0.25	0.37	GTY
BJRI	0.42		-0.1	-0.05	0.0	0.22	0.16	0.29	BJRI
SPG-PJ	0.53	-0.1		-0.77	0.0	-0.67	-0.6	-0.05	SPG-PJ
SMIZF	-0.67	-0.05	-0.77		0.0	0.77	0.52	-0.02	SMIZF
OHTR	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OHTR
LULU	-0.38	0.22	-0.67	0.77	0.0		0.69	0.29	LULU
BALY	-0.25	0.16	-0.6	0.52	0.0	0.69		0.51	BALY
SCSC	0.37	0.29	-0.05	-0.02	0.0	0.29	0.51		SCSC
	GTY	BJRI	SPG-PJ	SMIZF	OHTR	LULU	BALY	SCSC

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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

LULU	+ 0.77	SMIZF
BALY	+ 0.69	LULU
SPG-PJ	+ 0.53	GTY
BALY	+ 0.52	SMIZF
SCSC	+ 0.51	BALY
BJRI	+ 0.42	GTY

High negative correlations

SMIZF	- 0.77	SPG-PJ
LULU	- 0.67	SPG-PJ
SMIZF	- 0.67	GTY
BALY	- 0.6	SPG-PJ
LULU	- 0.38	GTY
BALY	- 0.25	GTY

Risk-Adjusted Indicators

There is a big difference between Innovex Stock performing well and Innovex International, 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 Innovex International,'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
GTY	0.87	(0.04)	0.00	(0.43)	0.00	0.00	2.21	(1.62)	5.80
BJRI	1.94	0.12	0.05	0.20	2.66	(1.95)	3.99	(3.27)	13.05
SPG-PJ	0.65	(0.08)	0.00	0.62	0.00	0.00	1.56	(1.76)	5.57
SMIZF	0.29	0.13	0.00	(3.19)	0.00	0.00	0.00	0.00	9.56
OHTR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LULU	1.74	0.58	0.27	(2.19)	1.56	(1.89)	4.28	(3.10)	20.63
BALY	0.24	0.04	0.18	3.61	0.10	(0.33)	0.57	(0.34)	2.08
SCSC	1.54	0.00	0.00	(0.01)	2.02	(1.54)	2.52	(3.66)	16.98

Innovex International, Corporate Management

Ben Griffith	Senior Chain	Profile
Kevin Rice	Senior Line	Profile
Dawn Harrington	Senior HSE	Profile
Steve Chauffe	Caspian, Europe	Profile
John Ray	Senior Asia	Profile
Bruce Witwer	Senior Line	Profile

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