Ring Energy Correlations

REI Stock

USD 1.24 0.01 0.81%

The correlation of Ring 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.

Ring Energy Correlation With Market

Modest diversification

The correlation between Ring Energy and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ring 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 Ring 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.

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

Moving together with Ring Stock

0.92	PR	Permian Resources	Pair Corr
0.68	SD	SandRidge Energy	Pair Corr
0.91	SM	SM Energy	Pair Corr
0.81	DMLP	Dorchester Minerals	Pair Corr
0.85	VIST	Vista Oil Gas	Pair Corr
0.89	VTLE	Vital Energy	Pair Corr
0.81	EONR	EON Resources Symbol Change	Pair Corr
0.9	FANG	Diamondback Energy	Pair Corr
0.9	APA	APA Corporation	Pair Corr
0.8	BKV	BKV Corporation	Pair Corr
0.9	BRY	Berry Petroleum Corp	Pair Corr
0.94	BTE	Baytex Energy Corp Aggressive Push	Pair Corr
0.82	CNQ	Canadian Natural Res	Pair Corr
0.81	COP	ConocoPhillips	Pair Corr
0.82	CRC	California Resources Corp	Pair Corr
0.8	DEC	Diversified Energy	Pair Corr
0.73	EGY	Vaalco Energy	Pair Corr
0.62	EOG	EOG Resources	Pair Corr
0.82	EPM	Evolution Petroleum	Pair Corr
0.87	GFR	Greenfire Resources	Pair Corr
0.78	GTE	Gran Tierra Energy	Pair Corr
0.82	HPK	Highpeak Energy Acqu	Pair Corr
0.92	KOS	Kosmos Energy	Pair Corr
0.83	KRP	Kimbell Royalty Partners	Pair Corr
0.76	MGY	Magnolia Oil Gas	Pair Corr
0.71	MNR	Mach Natural Resources	Pair Corr
0.88	MUR	Murphy Oil	Pair Corr
0.86	MXC	Mexco Energy	Pair Corr

Related Correlations Analysis

	SBOW	VTLE	PR	MGY	SM	MTDR	OBE	PTALF	EGY	CPE
SBOW		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SBOW
VTLE	0.0		0.9	0.6	0.95	0.96	0.51	0.22	0.59	0.0	VTLE
PR	0.0	0.9		0.78	0.91	0.97	0.64	0.28	0.65	0.0	PR
MGY	0.0	0.6	0.78		0.66	0.71	0.5	0.3	0.72	0.0	MGY
SM	0.0	0.95	0.91	0.66		0.96	0.56	0.02	0.73	0.0	SM
MTDR	0.0	0.96	0.97	0.71	0.96		0.57	0.24	0.62	0.0	MTDR
OBE	0.0	0.51	0.64	0.5	0.56	0.57		0.13	0.5	0.0	OBE
PTALF	0.0	0.22	0.28	0.3	0.02	0.24	0.13		-0.18	0.0	PTALF
EGY	0.0	0.59	0.65	0.72	0.73	0.62	0.5	-0.18		0.0	EGY
CPE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CPE
	SBOW	VTLE	PR	MGY	SM	MTDR	OBE	PTALF	EGY	CPE

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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

MTDR	+ 0.97	PR
MTDR	+ 0.96	VTLE
MTDR	+ 0.96	SM
SM	+ 0.95	VTLE
SM	+ 0.91	PR
PR	+ 0.9	VTLE

High negative correlations

EGY	- 0.18	PTALF
CPE	- 0.0	EGY
CPE	- 0.0	PTALF
CPE	- 0.0	OBE
CPE	- 0.0	MTDR
CPE	- 0.0	SM

Risk-Adjusted Indicators

There is a big difference between Ring Stock performing well and Ring 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 Ring 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
SBOW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VTLE	2.53	(0.33)	0.00	(0.33)	0.00	0.00	4.42	(6.93)	18.53
PR	1.67	(0.01)	0.00	(0.11)	0.00	0.00	3.54	(3.65)	12.33
MGY	1.51	(0.02)	0.00	(0.14)	0.00	0.00	2.81	(3.30)	9.02
SM	1.98	(0.33)	0.00	(0.51)	0.00	0.00	4.24	(4.43)	13.69
MTDR	1.69	(0.06)	0.00	(0.18)	0.00	0.00	3.58	(4.08)	13.35
OBE	2.35	0.08	0.05	0.27	3.06	(2.65)	5.08	(3.50)	23.14
PTALF	2.25	0.27	0.09	0.73	2.47	(3.62)	5.56	(3.92)	12.87
EGY	1.87	(0.14)	0.00	(0.30)	0.00	0.00	3.49	(5.53)	20.48
CPE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Ring Energy Corporate Executives

Elected by the shareholders, the Ring Energy's board of directors comprises two types of representatives: Ring Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ring. The board's role is to monitor Ring Energy's management team and ensure that shareholders' interests are well served. Ring Energy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Ring Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

William Broaddrick

CFO, VP, Treasurer and Corporate Secretary

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