Range Resources Correlations

RRC Stock

USD 39.88 0.39 0.97%

The correlation of Range Resources 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.

Range Resources Correlation With Market

Average diversification

The correlation between Range Resources Corp and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Range Resources Corp 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 Range Resources Corp. 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.

Moving together with Range Stock

0.96	AR	Antero Resources Corp	Pair Corr
0.87	LB	LandBridge Company	Pair Corr
0.79	SD	SandRidge Energy	Pair Corr
0.83	BSM	Black Stone Minerals	Pair Corr
0.61	COP	ConocoPhillips	Pair Corr
0.89	CRK	Comstock Resources	Pair Corr
0.84	DVN	Devon Energy	Pair Corr
0.74	EOG	EOG Resources	Pair Corr
0.94	EQT	EQT Corporation	Pair Corr
0.95	EXE	Expand Energy Symbol Change	Pair Corr
0.81	HES	Hess	Pair Corr
0.62	MGY	Magnolia Oil Gas	Pair Corr

Moving against Range Stock

0.62	CKX	CKX Lands Earnings Call Tomorrow	Pair Corr
0.58	CNX	CNX Resources Corp	Pair Corr

Related Correlations Analysis

	CHK	AR	EQT	CRK	PR	SWN	FANG	EOG	CTRA	MGY
CHK		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CHK
AR	0.0		0.97	0.84	0.49	0.0	0.4	0.71	0.95	0.51	AR
EQT	0.0	0.97		0.78	0.41	0.0	0.31	0.68	0.93	0.46	EQT
CRK	0.0	0.84	0.78		0.57	0.0	0.57	0.76	0.87	0.73	CRK
PR	0.0	0.49	0.41	0.57		0.0	0.96	0.69	0.53	0.75	PR
SWN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SWN
FANG	0.0	0.4	0.31	0.57	0.96	0.0		0.6	0.46	0.77	FANG
EOG	0.0	0.71	0.68	0.76	0.69	0.0	0.6		0.78	0.71	EOG
CTRA	0.0	0.95	0.93	0.87	0.53	0.0	0.46	0.78		0.65	CTRA
MGY	0.0	0.51	0.46	0.73	0.75	0.0	0.77	0.71	0.65		MGY
	CHK	AR	EQT	CRK	PR	SWN	FANG	EOG	CTRA	MGY

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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

EQT	+ 0.97	AR
FANG	+ 0.96	PR
CTRA	+ 0.95	AR
CTRA	+ 0.93	EQT
CTRA	+ 0.87	CRK
CRK	+ 0.84	AR

High negative correlations

MGY	- 0.0	SWN
CTRA	- 0.0	SWN
EOG	- 0.0	SWN
FANG	- 0.0	SWN
SWN	- 0.0	PR
SWN	- 0.0	CRK

Risk-Adjusted Indicators

There is a big difference between Range Stock performing well and Range Resources 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 Range Resources' 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
CHK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AR	2.00	0.41	0.16	0.76	2.52	(2.26)	4.25	(3.44)	16.13
EQT	1.81	0.30	0.10	0.40	2.92	(1.75)	3.46	(4.41)	14.83
CRK	2.84	0.35	0.10	0.60	3.59	(2.84)	6.33	(5.45)	21.33
PR	1.70	0.00	0.00	(0.06)	0.00	0.00	3.91	(3.65)	12.33
SWN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FANG	1.42	0.00	0.00	(0.06)	0.00	0.00	2.24	(3.55)	9.40
EOG	1.16	0.02	0.04	(0.02)	1.66	(1.16)	2.35	(2.81)	8.25
CTRA	1.44	0.23	0.14	0.59	1.62	(1.45)	3.01	(2.61)	7.66
MGY	1.52	0.05	0.04	0.01	2.02	(1.54)	2.88	(3.30)	9.02

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