Ranger Energy Correlations
| RNGR Stock | USD 14.56 0.41 2.90% |
The correlation of Ranger 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Ranger Energy Correlation With Market
Weak diversification
The correlation between Ranger Energy Services and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ranger Energy Services and DJI in the same portfolio, assuming nothing else is changed.
Ranger |
Moving together with Ranger Stock
| 0.86 | VTOL | Bristow Group | PairCorr |
| 0.64 | WTTR | Select Energy Services | PairCorr |
| 0.74 | BKR | Baker Hughes | PairCorr |
| 0.63 | FTI | TechnipFMC PLC | PairCorr |
| 0.87 | KGS | Kodiak Gas Services, | PairCorr |
| 0.62 | MRC | MRC Global | PairCorr |
| 0.8 | NGS | Natural Gas Services Earnings Call This Week | PairCorr |
| 0.7 | OIS | Oil States International | PairCorr |
| 0.83 | XPRO | Expro Group Holdings | PairCorr |
| 0.73 | RES | RPC Inc | PairCorr |
| 0.63 | SEI | Solaris Energy Infra Symbol Change | PairCorr |
| 0.67 | TDW | Tidewater | PairCorr |
| 0.92 | TTI | Tetra Technologies | PairCorr |
| 0.62 | VAL | Valaris | PairCorr |
| 0.72 | WHD | Cactus Inc | PairCorr |
| 0.69 | NESRW | National Energy Services | PairCorr |
| 0.82 | NESR | National Energy Services | PairCorr |
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 Ranger Stock performing well and Ranger 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 Ranger 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PUMP | 2.15 | (0.22) | 0.00 | (0.33) | 0.00 | 4.09 | 16.54 | |||
| NEX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RES | 1.70 | (0.07) | 0.00 | (0.17) | 0.00 | 3.22 | 9.81 | |||
| MRC | 1.96 | (0.07) | 0.00 | (0.08) | 0.00 | 3.22 | 12.66 | |||
| OIS | 2.15 | 0.19 | 0.06 | 0.13 | 3.08 | 4.32 | 17.27 | |||
| SOI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DRQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| XPRO | 2.18 | 0.02 | 0.00 | (0.02) | 0.00 | 4.06 | 15.23 |