Seadrill Correlations

SDRL Stock

USD 25.17 0.05 0.20%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Seadrill moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Seadrill Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Seadrill Correlation With Market

Weak diversification

The correlation between Seadrill Limited and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seadrill Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Seadrill Limited. 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 Seadrill Stock

0.76	HP	Helmerich and Payne	Pair Corr
0.88	NE	Noble plc	Pair Corr
0.77	NBR	Nabors Industries	Pair Corr
0.86	PDS	Precision Drilling	Pair Corr
0.84	RIG	Transocean Aggressive Push	Pair Corr
0.97	BORR	Borr Drilling	Pair Corr
0.79	DK	Delek Energy	Pair Corr
0.73	EE	Excelerate Energy	Pair Corr
0.67	ET	Energy Transfer LP	Pair Corr
0.79	PR	Permian Resources	Pair Corr
0.83	SM	SM Energy	Pair Corr
0.73	TK	Teekay	Pair Corr
0.91	DLNG	Dynagas LNG Partners	Pair Corr
0.75	DMLP	Dorchester Minerals	Pair Corr
0.89	VIST	Vista Oil Gas	Pair Corr
0.81	VIVK	Vivakor	Pair Corr
0.78	VNOM	Viper Energy Ut	Pair Corr
0.82	VTLE	Vital Energy	Pair Corr
0.86	EFXT	Enerflex	Pair Corr
0.81	EONR	EON Resources Symbol Change	Pair Corr
0.69	WFRD	Weatherford International	Pair Corr

Moving against Seadrill Stock

0.43	EC	Ecopetrol SA ADR	Pair Corr
0.4	E	Eni SpA ADR	Pair Corr
0.4	AM	Antero Midstream Partners	Pair Corr
0.34	BP	BP PLC ADR	Pair Corr
0.38	CQP	Cheniere Energy Partners	Pair Corr
0.32	EPSN	Epsilon Energy Potential Growth	Pair Corr

Related Correlations Analysis

	DO	NBR	BORR	PTEN	NE	RIG	ICD	HP	PDS
DO		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DO
NBR	0.0		0.7	0.62	0.95	0.95	0.0	0.95	0.94	NBR
BORR	0.0	0.7		0.47	0.83	0.8	0.0	0.69	0.83	BORR
PTEN	0.0	0.62	0.47		0.66	0.69	0.0	0.5	0.63	PTEN
NE	0.0	0.95	0.83	0.66		0.98	0.0	0.88	0.96	NE
RIG	0.0	0.95	0.8	0.69	0.98		0.0	0.86	0.93	RIG
ICD	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ICD
HP	0.0	0.95	0.69	0.5	0.88	0.86	0.0		0.91	HP
PDS	0.0	0.94	0.83	0.63	0.96	0.93	0.0	0.91		PDS
	DO	NBR	BORR	PTEN	NE	RIG	ICD	HP	PDS

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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
PDS	+ 0.96	NE
NE	+ 0.95	NBR
RIG	+ 0.95	NBR
HP	+ 0.95	NBR
PDS	+ 0.94	NBR

High negative correlations

PDS	- 0.0	ICD
HP	- 0.0	ICD
ICD	- 0.0	RIG
ICD	- 0.0	NE
ICD	- 0.0	PTEN
ICD	- 0.0	BORR

Risk-Adjusted Indicators

There is a big difference between Seadrill Stock performing well and Seadrill 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 Seadrill'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
DO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NBR	3.06	(0.46)	0.00	(0.42)	0.00	0.00	6.00	(6.51)	14.71
BORR	2.81	(0.67)	0.00	(0.83)	0.00	0.00	4.84	(5.98)	13.75
PTEN	2.28	0.29	0.10	0.24	2.75	(2.60)	4.29	(4.04)	13.28
NE	1.86	(0.24)	0.00	(0.27)	0.00	0.00	3.30	(4.19)	13.82
RIG	2.54	(0.18)	0.00	(0.26)	0.00	0.00	5.16	(4.36)	14.82
ICD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HP	1.99	(0.37)	0.00	(0.83)	0.00	0.00	4.46	(3.46)	20.97
PDS	1.67	(0.38)	0.00	(0.63)	0.00	0.00	3.02	(3.24)	12.42

Seadrill Corporate Management

Emily Li	Head Relations	Profile
Sara Dunne	Director Communications	Profile
Benjamin Wiseman	Corporate Relations	Profile
Marcel Wieggers	Senior Operations	Profile
John CFA	Vice Relations	Profile
Samir Ali	Executive Officer	Profile

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