Nabors Energy Correlations
| NETDW Stock | 0.15 0.01 6.25% |
The correlation of Nabors 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.
Nabors Energy Correlation With Market
Significant diversification
The correlation between Nabors Energy Transition and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nabors Energy Transition and DJI in the same portfolio, assuming nothing else is changed.
Nabors |
Moving together with Nabors Stock
| 0.76 | V | Visa Class A | PairCorr |
| 0.68 | DIST | Distoken Acquisition | PairCorr |
| 0.64 | BN | Brookfield Corp | PairCorr |
| 0.61 | BX | Blackstone Group Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.66 | DX | Dynex Capital | PairCorr |
| 0.63 | GS | Goldman Sachs Group Fiscal Year End 21st of January 2025 | PairCorr |
| 0.78 | LC | LendingClub Corp | PairCorr |
| 0.85 | LX | Lexinfintech Holdings | PairCorr |
| 0.73 | MA | Mastercard | PairCorr |
| 0.69 | PX | P10 Inc | PairCorr |
| 0.77 | QD | Qudian Inc | PairCorr |
| 0.62 | RM | Regional Management Corp | PairCorr |
| 0.64 | VCTR | Victory Capital Holdings Normal Trading | PairCorr |
| 0.64 | VIRT | Virtu Financial Normal Trading | PairCorr |
| 0.7 | DYCQ | DT Cloud Acquisition | PairCorr |
Moving against Nabors Stock
| 0.8 | XP | Xp Inc | PairCorr |
| 0.6 | WD | Walker Dunlop | PairCorr |
| 0.6 | WU | Western Union Sell-off Trend | PairCorr |
| 0.5 | LU | Lufax Holding | PairCorr |
| 0.39 | PT | Pintec Technology | PairCorr |
| 0.33 | PWUPU | PowerUp Acquisition Corp | PairCorr |
| 0.56 | EMCGU | Embrace Change Acqui | PairCorr |
| 0.5 | BRACU | Broad Capital Acquisition | PairCorr |
| 0.48 | LGHLW | Lion Financial Group | PairCorr |
| 0.47 | PWUPW | PowerUp Acquisition Corp | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nabors Stock performing well and Nabors 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 Nabors 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UBER | 1.65 | (0.33) | 0.00 | (1.73) | 0.00 | 2.53 | 20.41 | |||
| VHC | 2.40 | (0.42) | 0.00 | (0.42) | 0.00 | 4.19 | 22.29 | |||
| RXT | 3.14 | (0.09) | 0.00 | (0.09) | 0.00 | 6.67 | 21.75 | |||
| BH | 1.86 | 0.68 | 0.30 | (1.16) | 1.54 | 4.32 | 17.89 | |||
| RICK | 1.57 | 0.43 | 0.29 | 16.72 | 1.02 | 3.65 | 13.32 | |||
| BYD | 1.06 | 0.19 | 0.13 | 1.41 | 1.11 | 1.87 | 12.01 | |||
| GENK | 2.49 | (0.14) | 0.00 | (0.93) | 0.00 | 4.82 | 25.87 | |||
| OHTR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |