Texas Pacific Correlations
| TPL Stock | USD 1,273 98.33 7.17% |
The current 90-days correlation between Texas Pacific Land and Magnolia Oil Gas is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Texas Pacific moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Texas Pacific Land moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Texas Pacific Correlation With Market
Weak diversification
The correlation between Texas Pacific Land and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Pacific Land and DJI in the same portfolio, assuming nothing else is changed.
Texas |
Moving together with Texas Stock
| 0.69 | AR | Antero Resources Corp | PairCorr |
| 0.75 | BSM | Black Stone Minerals | PairCorr |
| 0.68 | DVN | Devon Energy | PairCorr |
| 0.76 | EQT | EQT Corporation | PairCorr |
| 0.76 | HES | Hess | PairCorr |
Moving against Texas Stock
| 0.57 | EP | Empire Petroleum Corp Earnings Call This Week | PairCorr |
| 0.7 | CNX | CNX Resources Corp | PairCorr |
| 0.64 | CKX | CKX Lands Earnings Call This Week | PairCorr |
| 0.37 | GTE | Gran Tierra Energy | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Texas Stock performing well and Texas Pacific 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 Texas Pacific'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MGY | 1.49 | 0.21 | 0.12 | 0.30 | 1.89 | 2.88 | 9.02 | |||
| CIVI | 2.50 | (0.22) | 0.00 | (0.32) | 0.00 | 4.64 | 23.71 | |||
| CRC | 1.50 | (0.16) | 0.00 | (0.29) | 0.00 | 3.30 | 15.14 | |||
| MTDR | 1.75 | 0.03 | 0.00 | (0.04) | 0.00 | 3.60 | 13.35 | |||
| CHRD | 1.50 | 0.04 | 0.03 | 0.01 | 2.35 | 2.69 | 11.59 | |||
| FANG | 1.38 | 0.08 | 0.05 | 0.09 | 2.23 | 2.24 | 9.40 | |||
| AR | 2.01 | 0.44 | 0.17 | 1.09 | 2.53 | 3.54 | 16.13 | |||
| CPE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ESTE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VTLE | 2.60 | (0.26) | 0.00 | (0.25) | 0.00 | 4.42 | 18.53 |
Texas Pacific Corporate Management
| Micheal JD | Secretary VP | Profile | |
| Stephanie Buffington | Chief Accounting Officer | Profile | |
| Eric Oliver | Independent Director | Profile | |
| Sameer Parasnis | Executive Vice President Chief Commercial Officer | Profile | |
| Donald Cook | Independent Director | Profile | |
| Murray Stahl | Independent Director | Profile |