Nabors Industries Correlations

OTC Stocks . USA . 
Stock . Nabors Industries
NBRWF Stock  USD 3.68  0.48  15.00%   
The current 90-days correlation between Nabors Industries and Summit Materials is -0.02 (i.e., Good diversification). The correlation of Nabors Industries 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.

Nabors Industries Correlation With Market

Average diversification

The correlation between Nabors Industries and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nabors Industries and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Nabors Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nabors Industries 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 Nabors Industries - 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 Nabors Industries to buy it.

Moving against Nabors OTC Stock

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Related Correlations Analysis

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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   
EVC
+ 0.9
SUM
BOSC
+ 0.74
SUM
BOSC
+ 0.63
EVC
BOSC
+ 0.44
MCHX
XNET
+ 0.41
EVC
XNET
+ 0.29
SUM
  
High negative correlations   
GOLD
- 0.84
SUM
GOLD
- 0.83
EVC
GOLD
- 0.77
BOSC
GOLD
- 0.36
XNET
GOLD
- 0.34
MCHX

Risk-Adjusted Indicators

There is a big difference between Nabors OTC Stock performing well and Nabors Industries OTC Stock 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 Nabors Industries' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nabors Industries without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Nabors Industries Corporate Management

Elected by the shareholders, the Nabors Industries' board of directors comprises two types of representatives: Nabors Industries inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nabors. The board's role is to monitor Nabors Industries' management team and ensure that shareholders' interests are well served. Nabors Industries' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Nabors Industries' outside directors are responsible for providing unbiased perspectives on the board's policies.
Anthony PetrelloPres ChairmanProfile
Travis PurvisVP OperationsProfile
Sri ValleruChief VPProfile
Dennis SmithSr RelationsProfile
Siegfried MeissnerPres EngineeringProfile
William RestrepoChief OfficerProfile
Mark AndrewsCo SecProfile
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