Patterson UTI Correlations

Stocks . USA . 
Stock . Patterson UTI Energy
PTEN Stock  USD 8.38  0.03  0.36%   
The current 90-days correlation between Patterson UTI Energy and Nabors Industries is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Patterson UTI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patterson UTI Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Patterson UTI Correlation With Market

Weak diversification

The correlation between Patterson UTI Energy 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 Patterson UTI Energy 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 Patterson UTI Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Patterson Stock

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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   
RIG
+ 0.98
NE
BORR
+ 0.97
SDRL
NE
+ 0.96
PDS
NE
+ 0.95
NBR
HP
+ 0.95
NBR
RIG
+ 0.95
NBR
  
High negative correlations   
RIG
- 0.0
DO
BORR
- 0.0
DO
SDRL
- 0.0
DO
HP
- 0.0
DO
NE
- 0.0
DO
DO
- 0.0
PDS

Risk-Adjusted Indicators

There is a big difference between Patterson Stock performing well and Patterson UTI 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 Patterson UTI'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.

Patterson UTI Corporate Management

Seth JDGeneral VPProfile
Kenneth CPAExecutive OfficerProfile
James DrickamerVP RelationsProfile
Michael SabellaVice RelationsProfile
Seth WexlerGeneral Counsel, SecretaryProfile
Matt PyeSenior AffairsProfile
Kathryn RoarkDiversity SustainabilityProfile
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