PrimeEnergy Correlations

PNRG Stock

USD 215.00 1.17 0.55%

The current 90-days correlation between PrimeEnergy and Evolution Petroleum is 0.47 (i.e., Very weak diversification). The correlation of PrimeEnergy 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.

PrimeEnergy Correlation With Market

Average diversification

The correlation between PrimeEnergy and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PrimeEnergy and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PrimeEnergy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with PrimeEnergy Stock

0.62	FANG	Diamondback Energy	Pair Corr
0.61	EPM	Evolution Petroleum	Pair Corr
0.72	MNR	Mach Natural Resources	Pair Corr

Related Correlations Analysis

	EPSN	CRGY	SBOW	EPM	TXO	XLEFF	COCBF	CKX	GPRK	PHX
EPSN		-0.42	0.0	-0.05	0.64	0.0	0.0	-0.33	-0.37	0.12	EPSN
CRGY	-0.42		0.0	0.82	-0.27	0.0	0.0	-0.03	0.78	0.37	CRGY
SBOW	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SBOW
EPM	-0.05	0.82	0.0		-0.07	0.0	0.0	-0.05	0.71	0.34	EPM
TXO	0.64	-0.27	0.0	-0.07		0.0	0.0	-0.73	-0.59	0.33	TXO
XLEFF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	XLEFF
COCBF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	COCBF
CKX	-0.33	-0.03	0.0	-0.05	-0.73	0.0	0.0		0.32	-0.2	CKX
GPRK	-0.37	0.78	0.0	0.71	-0.59	0.0	0.0	0.32		0.17	GPRK
PHX	0.12	0.37	0.0	0.34	0.33	0.0	0.0	-0.2	0.17		PHX
	EPSN	CRGY	SBOW	EPM	TXO	XLEFF	COCBF	CKX	GPRK	PHX

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

EPM	+ 0.82	CRGY
GPRK	+ 0.78	CRGY
GPRK	+ 0.71	EPM
TXO	+ 0.64	EPSN
PHX	+ 0.37	CRGY
PHX	+ 0.34	EPM

High negative correlations

CKX	- 0.73	TXO
GPRK	- 0.59	TXO
CRGY	- 0.42	EPSN
GPRK	- 0.37	EPSN
CKX	- 0.33	EPSN
TXO	- 0.27	CRGY

Risk-Adjusted Indicators

There is a big difference between PrimeEnergy Stock performing well and PrimeEnergy 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 PrimeEnergy'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
EPSN	1.70	0.35	0.18	0.97	1.79	(1.92)	5.04	(3.75)	10.87
CRGY	1.91	(0.25)	0.00	(0.36)	0.00	0.00	4.00	(4.99)	13.49
SBOW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EPM	1.27	(0.02)	0.00	(0.13)	0.00	0.00	3.00	(2.48)	8.05
TXO	1.40	0.32	0.22	0.50	1.41	(1.67)	3.60	(2.93)	9.26
XLEFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COCBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CKX	1.41	(0.08)	0.00	(1.59)	0.00	0.00	3.32	(3.08)	8.36
GPRK	2.47	(0.42)	0.00	(0.82)	0.00	0.00	5.47	(5.28)	14.97
PHX	1.65	0.15	0.11	0.30	1.70	(2.01)	3.49	(3.12)	8.97

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