National Energy Correlations

NESR Stock

USD 8.09 0.01 0.12%

The current 90-days correlation between National Energy Services and Ranger Energy Services is 0.5 (i.e., Very weak diversification). The correlation of National 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. If the correlation is 0, the equities are not correlated; they are entirely random.

National Energy Correlation With Market

Very weak diversification

The correlation between National Energy Services and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Energy 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 National Energy 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 state.

Moving together with National Stock

0.72	VTOL	Bristow Group	Pair Corr
0.71	EFXT	Enerflex	Pair Corr
0.68	WFRD	Weatherford International	Pair Corr
0.8	WTTR	Select Energy Services	Pair Corr
0.67	BKR	Baker Hughes	Pair Corr
0.73	CLB	Core Laboratories	Pair Corr
0.75	FTI	TechnipFMC PLC	Pair Corr
0.9	KGS	Kodiak Gas Services,	Pair Corr
0.78	MRC	MRC Global	Pair Corr
0.85	NGS	Natural Gas Services Earnings Call This Week	Pair Corr
0.71	OII	Oceaneering International	Pair Corr
0.85	XPRO	Expro Group Holdings	Pair Corr
0.79	RES	RPC Inc	Pair Corr
0.82	TDW	Tidewater	Pair Corr
0.88	TTI	Tetra Technologies	Pair Corr
0.83	VAL	Valaris	Pair Corr
0.83	WHD	Cactus Inc	Pair Corr
0.63	KLXE	KLX Energy Services	Pair Corr
0.62	LBRT	Liberty Oilfield Services	Pair Corr
0.76	NESRW	National Energy Services	Pair Corr

Moving against National Stock

0.44

INVX

Innovex International, Symbol Change

Pair Corr

Related Correlations Analysis

	DWSN	MCCRF	RNGR	MRC	NCSM	PFIE	NINE	CFWFF	FTK	FTI
DWSN		0.14	0.17	0.11	0.13	0.0	0.3	0.09	0.13	0.12	DWSN
MCCRF	0.14		-0.43	0.1	0.68	0.0	0.34	-0.07	0.48	-0.06	MCCRF
RNGR	0.17	-0.43		0.63	-0.31	0.0	0.19	0.44	-0.01	0.67	RNGR
MRC	0.11	0.1	0.63		0.1	0.0	0.5	0.37	0.32	0.76	MRC
NCSM	0.13	0.68	-0.31	0.1		0.0	0.44	0.03	0.33	0.08	NCSM
PFIE	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	PFIE
NINE	0.3	0.34	0.19	0.5	0.44	0.0		0.2	0.2	0.37	NINE
CFWFF	0.09	-0.07	0.44	0.37	0.03	0.0	0.2		0.21	0.62	CFWFF
FTK	0.13	0.48	-0.01	0.32	0.33	0.0	0.2	0.21		0.33	FTK
FTI	0.12	-0.06	0.67	0.76	0.08	0.0	0.37	0.62	0.33		FTI
	DWSN	MCCRF	RNGR	MRC	NCSM	PFIE	NINE	CFWFF	FTK	FTI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

FTI	+ 0.76	MRC
NCSM	+ 0.68	MCCRF
FTI	+ 0.67	RNGR
MRC	+ 0.63	RNGR
FTI	+ 0.62	CFWFF
NINE	+ 0.5	MRC

High negative correlations

RNGR	- 0.43	MCCRF
NCSM	- 0.31	RNGR
CFWFF	- 0.07	MCCRF
FTI	- 0.06	MCCRF
FTK	- 0.01	RNGR
FTI	- 0.0	PFIE

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National 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 National 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
DWSN	3.00	0.01	0.00	0.01	3.80	(3.24)	6.52	(6.34)	15.88
MCCRF	2.69	0.31	0.09	0.38	2.96	(3.31)	7.10	(4.52)	23.54
RNGR	1.80	0.00	0.00	0.00	2.44	(1.76)	3.34	(3.47)	11.28
MRC	1.96	(0.11)	0.00	(0.07)	0.00	0.00	3.22	(4.41)	12.66
NCSM	2.94	0.68	0.26	1.32	2.17	(3.66)	6.23	(3.95)	28.05
PFIE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NINE	5.56	0.59	0.11	0.18	4.93	(7.86)	13.13	(8.46)	37.41
CFWFF	1.16	(0.07)	0.00	(0.11)	0.00	0.00	3.13	(3.03)	9.03
FTK	3.21	(0.15)	0.00	(0.11)	0.00	0.00	6.32	(6.41)	24.90
FTI	1.64	(0.03)	0.00	(0.58)	0.00	0.00	3.30	(4.22)	11.10

National Energy Corporate Management

Hani Almaimani	VP Region	Profile
Salih Merghani	Vice Operations	Profile
Jennifer Howard	General Counsel	Profile
Blake Gendron	Vice Segment	Profile
Dhiraj Dudeja	Chief Officer	Profile
Cathy Konwisarz	Gen Sec	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC