Veren Correlations

VRN Stock

5.25 0.43 8.92%

The current 90-days correlation between Veren Inc and WK Kellogg Co is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Veren moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Veren Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Veren Correlation With Market

Modest diversification

The correlation between Veren Inc and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veren Inc 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 Veren Inc. 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 Veren Stock

0.74	LB	LandBridge Company	Pair Corr
0.73	PR	Permian Resources	Pair Corr
0.84	SD	SandRidge Energy Earnings Call This Week	Pair Corr
0.8	VTLE	Vital Energy	Pair Corr
0.65	FANG	Diamondback Energy	Pair Corr
0.82	APA	APA Corporation	Pair Corr
0.73	BRY	Berry Petroleum Corp Earnings Call This Week	Pair Corr
0.64	BSM	Black Stone Minerals	Pair Corr
0.64	BTE	Baytex Energy Corp	Pair Corr
0.63	DVN	Devon Energy	Pair Corr
0.71	EOG	EOG Resources	Pair Corr
0.7	EXE	Expand Energy Symbol Change	Pair Corr
0.63	HES	Hess	Pair Corr

Moving against Veren Stock

0.38	CKX	CKX Lands	Pair Corr
0.32	CNX	CNX Resources Corp	Pair Corr

Related Correlations Analysis

	KLG	SYY	AVNW	MRAM	DIT	TSN	AMKR	BRID
KLG		0.6	-0.26	0.07	0.53	0.75	0.14	-0.27	KLG
SYY	0.6		-0.66	0.53	0.27	0.54	0.68	-0.02	SYY
AVNW	-0.26	-0.66		-0.51	0.2	-0.5	-0.64	0.4	AVNW
MRAM	0.07	0.53	-0.51		-0.2	-0.08	0.77	0.29	MRAM
DIT	0.53	0.27	0.2	-0.2		0.38	-0.03	-0.02	DIT
TSN	0.75	0.54	-0.5	-0.08	0.38		0.21	-0.69	TSN
AMKR	0.14	0.68	-0.64	0.77	-0.03	0.21		-0.01	AMKR
BRID	-0.27	-0.02	0.4	0.29	-0.02	-0.69	-0.01		BRID
	KLG	SYY	AVNW	MRAM	DIT	TSN	AMKR	BRID

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

AMKR	+ 0.77	MRAM
TSN	+ 0.75	KLG
AMKR	+ 0.68	SYY
SYY	+ 0.6	KLG
TSN	+ 0.54	SYY
DIT	+ 0.53	KLG

High negative correlations

BRID	- 0.69	TSN
AVNW	- 0.66	SYY
AMKR	- 0.64	AVNW
MRAM	- 0.51	AVNW
TSN	- 0.5	AVNW
BRID	- 0.27	KLG

Risk-Adjusted Indicators

There is a big difference between Veren Stock performing well and Veren 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 Veren'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
KLG	2.22	0.31	0.10	0.65	2.72	(2.40)	5.52	(4.72)	16.23
SYY	0.98	(0.02)	0.00	0.06	0.00	0.00	2.36	(1.55)	10.17
AVNW	2.59	0.68	0.27	0.44	2.18	(3.23)	5.33	(3.91)	34.98
MRAM	1.91	(0.04)	0.00	(0.04)	0.00	0.00	4.61	(3.58)	11.95
DIT	3.09	0.14	0.04	1.45	3.21	(4.39)	7.08	(5.88)	23.72
TSN	0.94	(0.07)	0.00	0.71	0.00	0.00	2.27	(2.15)	5.59
AMKR	1.71	(0.16)	0.00	(0.39)	0.00	0.00	3.13	(3.35)	15.29
BRID	1.41	0.27	0.14	1.38	1.47	(1.62)	3.60	(2.70)	10.57

Veren Corporate Management

Mark Eade	General VP	Profile
Sarfraz Somani	Manager Relations	Profile
Michael Politeski	Senior Treasurer	Profile
Justin Foraie	Senior Marketing	Profile
BCom BComm	Chief Officer	Profile
Shant Madian	Vice Markets	Profile
PEng BASc	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC