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.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Valaris. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Valaris Stock please use our How to buy in Valaris Stock guide.

Moving together with Valaris Stock

0.75	TS	Tenaris SA ADR	Pair Corr
0.86	EFXT	Enerflex	Pair Corr
0.66	WFRD	Weatherford International	Pair Corr
0.77	WTTR	Select Energy Services	Pair Corr
0.82	CLB	Core Laboratories	Pair Corr
0.87	FTI	TechnipFMC PLC	Pair Corr
0.64	HAL	Halliburton	Pair Corr
0.76	KGS	Kodiak Gas Services,	Pair Corr
0.62	LSE	Leishen Energy Holding	Pair Corr
0.87	MRC	MRC Global	Pair Corr
0.81	NGS	Natural Gas Services	Pair Corr
0.64	NOA	North American Const	Pair Corr
0.83	OII	Oceaneering International	Pair Corr
0.81	XPRO	Expro Group Holdings	Pair Corr
0.9	RES	RPC Inc	Pair Corr
0.75	SND	Smart Sand	Pair Corr
0.88	TDW	Tidewater	Pair Corr
0.77	TTI	Tetra Technologies	Pair Corr
0.83	WHD	Cactus Inc	Pair Corr
0.62	GEOS	Geospace Technologies	Pair Corr
0.76	KLXE	KLX Energy Services	Pair Corr
0.74	LBRT	Liberty Oilfield Services	Pair Corr
0.62	NESRW	National Energy Services	Pair Corr
0.61	NCSM	NCS Multistage Holdings Upward Rally	Pair Corr
0.83	NESR	National Energy Services	Pair Corr

Related Correlations Analysis

	WFRD	FTI	GEOS	WHD	WFTUF	CHX	TDW	XPRO	DNOW	BKR
WFRD		0.78	0.89	0.9	0.0	-0.02	0.66	0.55	-0.22	0.03	WFRD
FTI	0.78		0.67	0.87	0.0	0.23	0.85	0.83	-0.24	0.49	FTI
GEOS	0.89	0.67		0.81	0.0	-0.32	0.61	0.41	-0.49	-0.21	GEOS
WHD	0.9	0.87	0.81		0.0	0.15	0.79	0.72	-0.14	0.29	WHD
WFTUF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	WFTUF
CHX	-0.02	0.23	-0.32	0.15	0.0		0.07	0.4	0.64	0.7	CHX
TDW	0.66	0.85	0.61	0.79	0.0	0.07		0.87	-0.25	0.46	TDW
XPRO	0.55	0.83	0.41	0.72	0.0	0.4	0.87		-0.02	0.65	XPRO
DNOW	-0.22	-0.24	-0.49	-0.14	0.0	0.64	-0.25	-0.02		0.43	DNOW
BKR	0.03	0.49	-0.21	0.29	0.0	0.7	0.46	0.65	0.43		BKR
	WFRD	FTI	GEOS	WHD	WFTUF	CHX	TDW	XPRO	DNOW	BKR

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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

WHD	+ 0.9	WFRD
GEOS	+ 0.89	WFRD
WHD	+ 0.87	FTI
XPRO	+ 0.87	TDW
TDW	+ 0.85	FTI
XPRO	+ 0.83	FTI

High negative correlations

DNOW	- 0.49	GEOS
CHX	- 0.32	GEOS
DNOW	- 0.25	TDW
DNOW	- 0.24	FTI
DNOW	- 0.22	WFRD
BKR	- 0.21	GEOS

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	0.00	3.47	(4.59)	17.31
FTI	1.58	(0.06)	0.00	(0.17)	0.00	0.00	3.22	(4.21)	11.16
GEOS	1.98	(0.35)	0.00	(0.43)	0.00	0.00	2.85	(4.08)	19.90
WHD	1.59	(0.40)	0.00	(0.50)	0.00	0.00	2.72	(3.97)	13.49
WFTUF	0.00	0.00	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	(1.53)	3.06	(3.09)	12.12
TDW	2.30	(0.19)	0.00	2.32	0.00	0.00	4.60	(5.94)	22.56
XPRO	2.13	(0.01)	0.00	(0.12)	0.00	0.00	4.06	(5.33)	15.23
DNOW	1.89	0.20	0.08	0.06	2.18	(2.09)	2.70	(3.44)	25.53
BKR	1.41	0.15	0.10	0.09	1.77	(1.49)	3.02	(3.30)	8.01

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