Ovintiv Correlations
OVV Stock | USD 41.09 0.56 1.38% |
The correlation of Ovintiv 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.
Ovintiv Correlation With Market
Weak diversification
The correlation between Ovintiv and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ovintiv and DJI in the same portfolio, assuming nothing else is changed.
Ovintiv |
Moving together with Ovintiv Stock
0.81 | AR | Antero Resources Corp | PairCorr |
0.8 | PR | Permian Resources | PairCorr |
0.93 | SD | SandRidge Energy | PairCorr |
0.75 | VTLE | Vital Energy | PairCorr |
0.66 | EONR | EON Resources Symbol Change | PairCorr |
0.7 | FANG | Diamondback Energy | PairCorr |
0.8 | APA | APA Corporation | PairCorr |
0.73 | BKV | BKV Corporation | PairCorr |
0.66 | BRN | Barnwell Industries | PairCorr |
0.86 | BRY | Berry Petroleum Corp | PairCorr |
0.62 | BSM | Black Stone Minerals | PairCorr |
0.68 | BTE | Baytex Energy Corp Aggressive Push | PairCorr |
0.75 | COP | ConocoPhillips | PairCorr |
0.72 | CRK | Comstock Resources | PairCorr |
0.79 | DVN | Devon Energy | PairCorr |
0.92 | EOG | EOG Resources Sell-off Trend | PairCorr |
0.7 | EPM | Evolution Petroleum | PairCorr |
0.77 | EQT | EQT Corporation | PairCorr |
0.84 | EXE | Expand Energy Symbol Change | PairCorr |
0.67 | HES | Hess | PairCorr |
0.62 | MGY | Magnolia Oil Gas | PairCorr |
0.67 | MNR | Mach Natural Resources | PairCorr |
0.69 | MXC | Mexco Energy | PairCorr |
Moving against Ovintiv Stock
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 Ovintiv Stock performing well and Ovintiv 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 Ovintiv'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
CPG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
BTE | 2.23 | (0.16) | 0.00 | (0.33) | 0.00 | 4.88 | 13.07 | |||
OBE | 2.38 | 0.11 | 0.06 | 0.40 | 3.01 | 5.08 | 23.14 | |||
CNQ | 1.30 | (0.07) | 0.00 | (0.24) | 0.00 | 2.15 | 8.71 | |||
VET | 1.91 | (0.18) | 0.00 | (0.33) | 0.00 | 4.79 | 14.06 | |||
VTLE | 2.58 | (0.28) | 0.00 | (0.31) | 0.00 | 5.35 | 18.53 | |||
SBOW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
CPE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
SD | 1.48 | 0.10 | 0.09 | 0.24 | 1.90 | 2.56 | 14.40 | |||
ESTE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Ovintiv Corporate Management
Rachel CHRP | Executive Services | Profile | |
Brendan McCracken | Executive Vice President - Corporate Development and External Relations | Profile | |
Michael McAllister | President | Profile | |
Joanne Alexander | Executive Vice President General Counsel, Corporate Secretary | Profile | |
Renee Zemljak | Executive Vice President of Midstream, Marketing and Fundamentals | Profile |