Mexco Energy Correlations

MXC Stock

USD 9.79 0.24 2.51%

The correlation of Mexco 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.

Mexco Energy Correlation With Market

Modest diversification

The correlation between Mexco Energy and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mexco Energy 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 Mexco Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

For information on how to trade Mexco Stock refer to our How to Trade Mexco Stock guide.

Moving together with Mexco Stock

0.81	PR	Permian Resources	Pair Corr
0.61	SD	SandRidge Energy	Pair Corr
0.85	SM	SM Energy	Pair Corr
0.7	DMLP	Dorchester Minerals	Pair Corr
0.78	VIST	Vista Oil Gas	Pair Corr
0.89	VTLE	Vital Energy	Pair Corr
0.82	EONR	EON Resources Symbol Change	Pair Corr
0.82	FANG	Diamondback Energy	Pair Corr
0.81	APA	APA Corporation	Pair Corr
0.8	BKV	BKV Corporation	Pair Corr
0.89	BRY	Berry Petroleum Corp	Pair Corr
0.84	BTE	Baytex Energy Corp Aggressive Push	Pair Corr
0.68	CNQ	Canadian Natural Res	Pair Corr
0.62	COP	ConocoPhillips	Pair Corr
0.69	CRC	California Resources Corp	Pair Corr
0.82	DEC	Diversified Energy	Pair Corr
0.68	EPM	Evolution Petroleum	Pair Corr
0.83	GFR	Greenfire Resources	Pair Corr
0.63	GTE	Gran Tierra Energy	Pair Corr
0.77	HPK	Highpeak Energy Acqu	Pair Corr
0.86	KOS	Kosmos Energy	Pair Corr
0.77	KRP	Kimbell Royalty Partners	Pair Corr
0.75	MNR	Mach Natural Resources	Pair Corr
0.7	MUR	Murphy Oil	Pair Corr

Moving against Mexco Stock

0.41

EPSN

Epsilon Energy

Pair Corr

Related Correlations Analysis

	PHX	GRNT	XLEFF	COCBF	PVL	VOC	GPRK	SBOW	CHKEL	PNRG
PHX		0.46	0.0	0.0	-0.11	0.01	0.19	0.0	0.0	0.25	PHX
GRNT	0.46		0.0	0.0	-0.01	0.61	0.75	0.0	0.0	0.56	GRNT
XLEFF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	XLEFF
COCBF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	COCBF
PVL	-0.11	-0.01	0.0	0.0		-0.2	0.05	0.0	0.0	-0.02	PVL
VOC	0.01	0.61	0.0	0.0	-0.2		0.87	0.0	0.0	0.18	VOC
GPRK	0.19	0.75	0.0	0.0	0.05	0.87		0.0	0.0	0.18	GPRK
SBOW	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SBOW
CHKEL	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CHKEL
PNRG	0.25	0.56	0.0	0.0	-0.02	0.18	0.18	0.0	0.0		PNRG
	PHX	GRNT	XLEFF	COCBF	PVL	VOC	GPRK	SBOW	CHKEL	PNRG

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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

GPRK	+ 0.87	VOC
GPRK	+ 0.75	GRNT
VOC	+ 0.61	GRNT
PNRG	+ 0.56	GRNT
GRNT	+ 0.46	PHX
PNRG	+ 0.25	PHX

High negative correlations

VOC	- 0.2	PVL
PVL	- 0.11	PHX
PNRG	- 0.02	PVL
PVL	- 0.01	GRNT
PNRG	- 0.0	CHKEL
PNRG	- 0.0	SBOW

Risk-Adjusted Indicators

There is a big difference between Mexco Stock performing well and Mexco 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 Mexco 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
PHX	1.61	0.09	0.09	0.17	1.70	(1.97)	3.49	(3.12)	8.97
GRNT	1.64	0.06	0.05	0.05	2.39	(1.63)	3.41	(4.32)	15.85
XLEFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COCBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PVL	1.55	0.05	0.07	0.35	1.82	(1.94)	3.33	(3.29)	10.66
VOC	2.13	(0.51)	0.00	(1.56)	0.00	0.00	2.96	(4.33)	18.49
GPRK	2.50	(0.38)	0.00	(0.80)	0.00	0.00	5.50	(5.31)	15.00
SBOW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CHKEL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PNRG	2.72	0.31	0.11	0.34	2.99	(3.15)	5.43	(5.90)	23.58

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