Matador Resources Correlations

MTDR Stock

USD 51.51 0.80 1.53%

The current 90-days correlation between Matador Resources and Murphy Oil is 0.69 (i.e., Poor diversification). The correlation of Matador Resources 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.

Matador Resources Correlation With Market

Weak diversification

The correlation between Matador Resources and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matador Resources 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 Matador Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

To learn how to invest in Matador Stock, please use our How to Invest in Matador Resources guide.

Moving together with Matador Stock

0.97	PR	Permian Resources	Pair Corr
0.7	SD	SandRidge Energy	Pair Corr
0.96	SM	SM Energy	Pair Corr
0.76	DMLP	Dorchester Minerals	Pair Corr
0.84	VIST	Vista Oil Gas	Pair Corr
0.94	VTLE	Vital Energy	Pair Corr
0.88	EONR	EON Resources Symbol Change	Pair Corr
0.95	FANG	Diamondback Energy	Pair Corr
0.93	APA	APA Corporation	Pair Corr
0.92	BKV	BKV Corporation	Pair Corr
0.93	BRY	Berry Petroleum Corp	Pair Corr
0.94	BTE	Baytex Energy Corp Aggressive Push	Pair Corr
0.84	CNQ	Canadian Natural Res	Pair Corr
0.79	COP	ConocoPhillips	Pair Corr
0.86	CRC	California Resources Corp	Pair Corr
0.88	DEC	Diversified Energy	Pair Corr
0.69	EGY	Vaalco Energy	Pair Corr
0.63	EOG	EOG Resources	Pair Corr
0.9	EPM	Evolution Petroleum	Pair Corr
0.85	GFR	Greenfire Resources	Pair Corr
0.75	GTE	Gran Tierra Energy	Pair Corr
0.85	HPK	Highpeak Energy Acqu	Pair Corr
0.88	KOS	Kosmos Energy	Pair Corr
0.82	KRP	Kimbell Royalty Partners	Pair Corr
0.68	MGY	Magnolia Oil Gas	Pair Corr
0.91	MNR	Mach Natural Resources	Pair Corr

Moving against Matador Stock

0.31

EPSN

Epsilon Energy Potential Growth

Pair Corr

Related Correlations Analysis

	MUR	CIVI	ESTE	SBOW	CPE	PR	AR	MGY	CHRD	PDCE
MUR		0.71	0.0	0.0	0.0	0.8	0.14	0.68	0.94	0.0	MUR
CIVI	0.71		0.0	0.0	0.0	0.88	0.34	0.54	0.75	0.0	CIVI
ESTE	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ESTE
SBOW	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SBOW
CPE	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CPE
PR	0.8	0.88	0.0	0.0	0.0		0.49	0.75	0.9	0.0	PR
AR	0.14	0.34	0.0	0.0	0.0	0.49		0.51	0.26	0.0	AR
MGY	0.68	0.54	0.0	0.0	0.0	0.75	0.51		0.77	0.0	MGY
CHRD	0.94	0.75	0.0	0.0	0.0	0.9	0.26	0.77		0.0	CHRD
PDCE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PDCE
	MUR	CIVI	ESTE	SBOW	CPE	PR	AR	MGY	CHRD	PDCE

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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

CHRD	+ 0.94	MUR
CHRD	+ 0.9	PR
PR	+ 0.88	CIVI
PR	+ 0.8	MUR
CHRD	+ 0.77	MGY
CHRD	+ 0.75	CIVI

High negative correlations

PDCE	- 0.0	CHRD
PDCE	- 0.0	MGY
PDCE	- 0.0	AR
PDCE	- 0.0	PR
PDCE	- 0.0	CPE
CHRD	- 0.0	CPE

Risk-Adjusted Indicators

There is a big difference between Matador Stock performing well and Matador Resources 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 Matador Resources' 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
MUR	1.82	(0.12)	0.00	(0.28)	0.00	0.00	3.83	(3.63)	12.15
CIVI	2.46	(0.35)	0.00	(0.47)	0.00	0.00	4.64	(5.49)	23.71
ESTE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBOW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CPE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PR	1.70	0.00	0.00	(0.06)	0.00	0.00	3.91	(3.65)	12.33
AR	2.00	0.41	0.16	0.76	2.52	(2.26)	4.25	(3.44)	16.13
MGY	1.52	0.05	0.04	0.01	2.02	(1.54)	2.88	(3.30)	9.02
CHRD	1.50	(0.06)	0.00	(0.19)	0.00	0.00	2.69	(3.08)	11.59
PDCE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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