Kodiak Gas Correlations

KGS Stock

37.80 0.65 1.69%

The current 90-days correlation between Kodiak Gas Services, and Enel Chile SA is 0.34 (i.e., Weak diversification). The correlation of Kodiak Gas 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.

Kodiak Gas Correlation With Market

Weak diversification

The correlation between Kodiak Gas Services, and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kodiak Gas Services, and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kodiak Gas Services,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Kodiak Stock

0.73	VTOL	Bristow Group	Pair Corr
0.69	EFXT	Enerflex	Pair Corr
0.74	WTTR	Select Energy Services	Pair Corr
0.68	BKR	Baker Hughes	Pair Corr
0.63	CLB	Core Laboratories	Pair Corr
0.78	FTI	TechnipFMC PLC	Pair Corr
0.84	MRC	MRC Global	Pair Corr
0.86	NGS	Natural Gas Services Earnings Call This Week	Pair Corr
0.69	OII	Oceaneering International	Pair Corr
0.65	OIS	Oil States International	Pair Corr
0.83	XPRO	Expro Group Holdings	Pair Corr
0.81	RES	RPC Inc	Pair Corr
0.78	TDW	Tidewater	Pair Corr
0.91	TTI	Tetra Technologies	Pair Corr
0.78	VAL	Valaris	Pair Corr
0.8	WHD	Cactus Inc	Pair Corr
0.66	KLXE	KLX Energy Services	Pair Corr
0.66	LBRT	Liberty Oilfield Services	Pair Corr
0.8	NESRW	National Energy Services	Pair Corr
0.89	NESR	National Energy Services	Pair Corr

Related Correlations Analysis

	IGI	SPG-PJ	NRG	PFLT	CAFZF	ENIC	CNP
IGI		0.02	0.27	0.57	0.47	0.8	0.65	IGI
SPG-PJ	0.02		-0.09	-0.2	-0.13	-0.24	-0.1	SPG-PJ
NRG	0.27	-0.09		0.6	0.61	0.28	0.07	NRG
PFLT	0.57	-0.2	0.6		0.74	0.74	0.68	PFLT
CAFZF	0.47	-0.13	0.61	0.74		0.53	0.31	CAFZF
ENIC	0.8	-0.24	0.28	0.74	0.53		0.85	ENIC
CNP	0.65	-0.1	0.07	0.68	0.31	0.85		CNP
	IGI	SPG-PJ	NRG	PFLT	CAFZF	ENIC	CNP

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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

CNP	+ 0.85	ENIC
ENIC	+ 0.8	IGI
CAFZF	+ 0.74	PFLT
ENIC	+ 0.74	PFLT
CNP	+ 0.68	PFLT
CNP	+ 0.65	IGI

High negative correlations

ENIC	- 0.24	SPG-PJ
PFLT	- 0.2	SPG-PJ
CAFZF	- 0.13	SPG-PJ
CNP	- 0.1	SPG-PJ
NRG	- 0.09	SPG-PJ

Risk-Adjusted Indicators

There is a big difference between Kodiak Stock performing well and Kodiak Gas 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 Kodiak Gas' 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
IGI	0.32	0.00	0.13	(0.13)	0.44	(0.30)	0.54	(0.67)	1.50
SPG-PJ	0.72	(0.04)	0.00	(13.68)	0.00	0.00	1.98	(1.60)	5.55
NRG	2.49	0.23	0.06	0.11	3.72	(2.50)	4.92	(5.17)	19.98
PFLT	0.66	0.10	0.15	0.15	0.81	(0.70)	1.45	(1.28)	4.56
CAFZF	0.41	0.08	0.00	2.91	0.00	0.00	0.00	0.00	17.42
ENIC	1.30	0.25	0.14	0.50	1.74	(1.42)	2.91	(3.06)	8.25
CNP	0.86	0.21	0.24	0.41	0.80	(0.96)	2.51	(1.74)	5.48

Kodiak Gas Corporate Management

Pedro Buhigas	Executive Officer	Profile
Travis Marrs	Executive Engineering	Profile
Jason Stewart	Executive Treasurer	Profile
Cory Roclawski	Executive Officer	Profile
Ewan Hamilton	Executive Officer	Profile

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