San Juan Correlations

Stocks . USA . 
Stock . San Juan Basin
SJT Stock  USD 5.28  0.04  0.75%   
The current 90-days correlation between San Juan Basin and Sabine Royalty Trust is 0.26 (i.e., Modest diversification). The correlation of San Juan 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.

San Juan Correlation With Market

Average diversification

The correlation between San Juan Basin and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding San Juan Basin 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 San Juan Basin. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with San Stock

  0.74EPSN Epsilon EnergyPairCorr
  0.78BSM Black Stone MineralsPairCorr
  0.73HES HessPairCorr

Moving against San Stock

  0.61SM SM EnergyPairCorr
  0.57VIST Vista Oil GasPairCorr
  0.53DMLP Dorchester MineralsPairCorr
  0.53VTLE Vital EnergyPairCorr
  0.52BKV BKV CorporationPairCorr
  0.42EONR EON Resources Symbol ChangePairCorr
  0.41FANG Diamondback EnergyPairCorr
  0.36PR Permian ResourcesPairCorr
  0.36BRY Berry Petroleum CorpPairCorr
  0.33APA APA CorporationPairCorr
  0.74DEC Diversified EnergyPairCorr
  0.66GFR Greenfire ResourcesPairCorr
  0.62GTE Gran Tierra EnergyPairCorr
  0.61CRC California Resources CorpPairCorr
  0.48CNQ Canadian Natural ResPairCorr
  0.47BTE Baytex Energy Corp Aggressive PushPairCorr
  0.42CNX CNX Resources CorpPairCorr
  0.38CKX CKX Lands Earnings Call This WeekPairCorr
  0.69HPK Highpeak Energy AcquPairCorr
  0.61NOG Northern Oil GasPairCorr
  0.58KOS Kosmos EnergyPairCorr
  0.57KRP Kimbell Royalty PartnersPairCorr
  0.49MXC Mexco EnergyPairCorr
  0.44MNR Mach Natural ResourcesPairCorr

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   
CRT
+ 0.7
SBR
MTR
+ 0.34
CRT
MTR
+ 0.29
PBT
BPT
+ 0.22
PBT
MTR
+ 0.08
SBR
  
High negative correlations   
CRT
- 0.39
PBT
BPT
- 0.36
MTR
BPT
- 0.32
CRT
BPT
- 0.23
SBR
PBT
- 0.15
SBR

Risk-Adjusted Indicators

There is a big difference between San Stock performing well and San Juan 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 San Juan'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.

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