Marathon Oil Correlations
| M1RO34 Stock | BRL 170.15 0.00 0.00% |
The current 90-days correlation between Marathon Oil and Petro Rio SA is 0.02 (i.e., Significant diversification). The correlation of Marathon Oil 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.
Marathon Oil Correlation With Market
Good diversification
The correlation between Marathon Oil and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Marathon Oil and DJI in the same portfolio, assuming nothing else is changed.
Marathon |
The ability to find closely correlated positions to Marathon Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Marathon Oil when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Marathon Oil - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Marathon Oil to buy it.
Moving together with Marathon Stock
Moving against Marathon Stock
| 0.6 | D1VN34 | Devon Energy | PairCorr |
| 0.41 | ITUB4 | Ita Unibanco Holding | PairCorr |
| 0.36 | ITUB3 | Ita Unibanco Holding | PairCorr |
| 0.32 | A1PA34 | APA Corporation | PairCorr |
| 0.32 | HOND34 | Honda Motor | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Marathon Stock performing well and Marathon Oil 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 Marathon Oil'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PRIO3 | 1.50 | 0.00 | 0.00 | 0.09 | 0.00 | 2.70 | 9.24 | |||
| VAMO3 | 2.40 | (0.30) | 0.00 | (2.58) | 0.00 | 4.89 | 15.83 | |||
| SIMH3 | 2.71 | (0.68) | 0.00 | (2.80) | 0.00 | 4.39 | 19.16 | |||
| AMBP3 | 5.33 | 2.43 | 0.60 | (4.41) | 2.85 | 17.04 | 33.93 |
Marathon Oil Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Marathon Oil stock to make a market-neutral strategy. Peer analysis of Marathon Oil could also be used in its relative valuation, which is a method of valuing Marathon Oil by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Marathon Oil Corporate Management
Elected by the shareholders, the Marathon Oil's board of directors comprises two types of representatives: Marathon Oil inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Marathon. The board's role is to monitor Marathon Oil's management team and ensure that shareholders' interests are well served. Marathon Oil's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Marathon Oil's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Lee Tillman | Pres Chairman | Profile | |
| CPA IV | VP Relations | Profile | |
| Dane Whitehead | Ex CFO | Profile | |
| Bruce McCullough | VP Officer | Profile | |
| Michael Henderson | Ex Operations | Profile | |
| Rob White | Controller VP | Profile | |
| Kimberly Warnica | Gen VP | Profile |