Valaris Correlations
VAL Stock | USD 38.74 0.42 1.10% |
The current 90-days correlation between Valaris and Weatherford International PLC is 0.44 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Valaris moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Valaris moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Valaris Correlation With Market
Average diversification
The correlation between Valaris and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Valaris and DJI in the same portfolio, assuming nothing else is changed.
Valaris |
Moving together with Valaris Stock
0.75 | TS | Tenaris SA ADR | PairCorr |
0.86 | EFXT | Enerflex | PairCorr |
0.66 | WFRD | Weatherford International | PairCorr |
0.77 | WTTR | Select Energy Services | PairCorr |
0.82 | CLB | Core Laboratories | PairCorr |
0.87 | FTI | TechnipFMC PLC | PairCorr |
0.64 | HAL | Halliburton | PairCorr |
0.76 | KGS | Kodiak Gas Services, | PairCorr |
0.62 | LSE | Leishen Energy Holding | PairCorr |
0.87 | MRC | MRC Global | PairCorr |
0.81 | NGS | Natural Gas Services | PairCorr |
0.64 | NOA | North American Const | PairCorr |
0.83 | OII | Oceaneering International | PairCorr |
0.81 | XPRO | Expro Group Holdings | PairCorr |
0.9 | RES | RPC Inc | PairCorr |
0.75 | SND | Smart Sand | PairCorr |
0.88 | TDW | Tidewater | PairCorr |
0.77 | TTI | Tetra Technologies | PairCorr |
0.83 | WHD | Cactus Inc | PairCorr |
0.62 | GEOS | Geospace Technologies | PairCorr |
0.76 | KLXE | KLX Energy Services | PairCorr |
0.74 | LBRT | Liberty Oilfield Services | PairCorr |
0.62 | NESRW | National Energy Services | PairCorr |
0.61 | NCSM | NCS Multistage Holdings Upward Rally | PairCorr |
0.83 | 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 Valaris Stock performing well and Valaris 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 Valaris' 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
WFRD | 2.12 | (0.38) | 0.00 | (0.36) | 0.00 | 3.47 | 17.31 | |||
FTI | 1.58 | (0.06) | 0.00 | (0.17) | 0.00 | 3.22 | 11.16 | |||
GEOS | 1.98 | (0.35) | 0.00 | (0.43) | 0.00 | 2.85 | 19.90 | |||
WHD | 1.59 | (0.40) | 0.00 | (0.50) | 0.00 | 2.72 | 13.49 | |||
WFTUF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
CHX | 1.52 | 0.15 | 0.07 | 0.04 | 2.02 | 3.06 | 12.12 | |||
TDW | 2.30 | (0.19) | 0.00 | 2.32 | 0.00 | 4.60 | 22.56 | |||
XPRO | 2.13 | (0.01) | 0.00 | (0.12) | 0.00 | 4.06 | 15.23 | |||
DNOW | 1.89 | 0.20 | 0.08 | 0.06 | 2.18 | 2.70 | 25.53 | |||
BKR | 1.41 | 0.15 | 0.10 | 0.09 | 1.77 | 3.02 | 8.01 |