NPK International Correlations

NPKI Stock

7.82 0.13 1.69%

The current 90-days correlation between NPK International and Tenaris SA ADR is 0.58 (i.e., Very weak diversification). The correlation of NPK International 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.

NPK International Correlation With Market

Weak diversification

The correlation between NPK International and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NPK International 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 NPK International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more detail on how to invest in NPK Stock please use our How to Invest in NPK International guide.

Moving together with NPK Stock

0.75	TS	Tenaris SA ADR	Pair Corr
0.61	VTOL	Bristow Group	Pair Corr
0.67	EFXT	Enerflex	Pair Corr
0.86	WTTR	Select Energy Services	Pair Corr
0.67	BKR	Baker Hughes Earnings Call Today	Pair Corr
0.77	FTI	TechnipFMC PLC	Pair Corr
0.7	FTK	Flotek Industries	Pair Corr
0.7	KGS	Kodiak Gas Services,	Pair Corr
0.78	MRC	MRC Global	Pair Corr
0.83	NGS	Natural Gas Services	Pair Corr
0.74	OII	Oceaneering International	Pair Corr
0.73	OIS	Oil States International	Pair Corr
0.65	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.67	SND	Smart Sand	Pair Corr
0.77	NINE	Nine Energy Service	Pair Corr

Moving against NPK Stock

0.57	DWSN	Dawson Geophysical	Pair Corr
0.42	ENSV	Enservco	Pair Corr
0.58	TDW	Tidewater	Pair Corr
0.39	VAL	Valaris	Pair Corr
0.53	NESRW	National Energy Services	Pair Corr
0.49	E	Eni SpA ADR Earnings Call Today	Pair Corr
0.44	RCON	Recon Technology	Pair Corr

Related Correlations Analysis

	TS	DWSN	VTOL	EFXT	WFRD	BKR	CHX	CLB	DTI	FET
TS		-0.82	0.45	0.92	-0.44	0.88	-0.18	0.16	0.07	0.47	TS
DWSN	-0.82		-0.17	-0.89	0.58	-0.66	0.34	0.16	0.1	-0.39	DWSN
VTOL	0.45	-0.17		0.21	0.48	0.73	0.71	0.83	0.58	0.35	VTOL
EFXT	0.92	-0.89	0.21		-0.64	0.73	-0.39	-0.12	-0.07	0.46	EFXT
WFRD	-0.44	0.58	0.48	-0.64		-0.16	0.89	0.64	0.63	-0.21	WFRD
BKR	0.88	-0.66	0.73	0.73	-0.16		0.19	0.45	0.27	0.62	BKR
CHX	-0.18	0.34	0.71	-0.39	0.89	0.19		0.76	0.74	0.1	CHX
CLB	0.16	0.16	0.83	-0.12	0.64	0.45	0.76		0.66	0.09	CLB
DTI	0.07	0.1	0.58	-0.07	0.63	0.27	0.74	0.66		0.17	DTI
FET	0.47	-0.39	0.35	0.46	-0.21	0.62	0.1	0.09	0.17		FET
	TS	DWSN	VTOL	EFXT	WFRD	BKR	CHX	CLB	DTI	FET

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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

EFXT	+ 0.92	TS
CHX	+ 0.89	WFRD
BKR	+ 0.88	TS
CLB	+ 0.83	VTOL
CLB	+ 0.76	CHX
DTI	+ 0.74	CHX

High negative correlations

EFXT	- 0.89	DWSN
DWSN	- 0.82	TS
BKR	- 0.66	DWSN
WFRD	- 0.64	EFXT
WFRD	- 0.44	TS
CHX	- 0.39	EFXT

Risk-Adjusted Indicators

There is a big difference between NPK Stock performing well and NPK International 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 NPK International'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
TS	1.04	0.30	0.18	1.34	1.21	(1.11)	2.44	(2.87)	11.55
DWSN	3.53	(0.12)	0.00	(0.15)	0.00	0.00	8.33	(7.48)	30.52
VTOL	1.45	0.09	0.05	0.14	1.64	(1.66)	2.92	(2.85)	14.67
EFXT	1.57	0.72	0.42	1.60	1.15	(2.00)	3.72	(2.18)	10.85
WFRD	2.04	(0.34)	0.00	(0.29)	0.00	0.00	3.93	(4.72)	16.10
BKR	1.24	0.33	0.23	0.84	1.02	(1.49)	3.03	(2.54)	14.09
CHX	1.44	(0.03)	0.00	(0.02)	0.00	0.00	2.85	(2.87)	13.73
CLB	2.25	0.08	0.03	0.22	2.42	(2.66)	4.03	(4.42)	15.76
DTI	1.76	(0.04)	0.00	(0.09)	0.00	0.00	3.88	(3.67)	11.08
FET	2.10	0.35	0.16	0.42	1.89	(2.67)	5.97	(3.77)	14.31

NPK International Corporate Management

Douglas CPA	Chief VP	Profile
Celeste Fruge	General VP	Profile
David Paterson	Corporate Systems	Profile
Lori Briggs	Corporate Solutions	Profile

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