Bristow Correlations

VTOL Stock

USD 32.11 0.14 0.44%

The current 90-days correlation between Bristow Group and Oil States International is 0.49 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bristow moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bristow Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bristow Correlation With Market

Weak diversification

The correlation between Bristow Group and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bristow Group 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 Bristow Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Bristow Stock

0.68	WFRD	Weatherford International	Pair Corr
0.72	FTI	TechnipFMC PLC	Pair Corr
0.66	HAL	Halliburton	Pair Corr
0.71	KGS	Kodiak Gas Services,	Pair Corr
0.8	NGS	Natural Gas Services	Pair Corr
0.66	NOV	NOV Inc	Pair Corr
0.63	OII	Oceaneering International	Pair Corr
0.7	OIS	Oil States International	Pair Corr
0.76	XPRO	Expro Group Holdings	Pair Corr
0.66	RES	RPC Inc	Pair Corr
0.7	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.69	TDW	Tidewater	Pair Corr
0.75	TTI	Tetra Technologies	Pair Corr
0.72	WHD	Cactus Inc	Pair Corr
0.68	NESR	National Energy Services	Pair Corr

Related Correlations Analysis

	OIS	GEOS	WFRD	EFXT	RES	NOV	OII	WHD	AROC	SOI
OIS		0.17	0.39	0.39	0.71	0.59	0.47	0.49	0.8	0.0	OIS
GEOS	0.17		0.89	0.9	0.65	0.05	0.9	0.82	0.2	0.0	GEOS
WFRD	0.39	0.89		0.88	0.72	0.38	0.92	0.91	0.35	0.0	WFRD
EFXT	0.39	0.9	0.88		0.83	0.26	0.96	0.91	0.48	0.0	EFXT
RES	0.71	0.65	0.72	0.83		0.42	0.82	0.85	0.76	0.0	RES
NOV	0.59	0.05	0.38	0.26	0.42		0.35	0.43	0.54	0.0	NOV
OII	0.47	0.9	0.92	0.96	0.82	0.35		0.91	0.49	0.0	OII
WHD	0.49	0.82	0.91	0.91	0.85	0.43	0.91		0.6	0.0	WHD
AROC	0.8	0.2	0.35	0.48	0.76	0.54	0.49	0.6		0.0	AROC
SOI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SOI
	OIS	GEOS	WFRD	EFXT	RES	NOV	OII	WHD	AROC	SOI

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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

OII	+ 0.96	EFXT
OII	+ 0.92	WFRD
WHD	+ 0.91	WFRD
WHD	+ 0.91	EFXT
WHD	+ 0.91	OII
EFXT	+ 0.9	GEOS

High negative correlations

SOI	- 0.0	AROC
SOI	- 0.0	WHD
SOI	- 0.0	OII
SOI	- 0.0	NOV
SOI	- 0.0	RES
SOI	- 0.0	EFXT

Risk-Adjusted Indicators

There is a big difference between Bristow Stock performing well and Bristow 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 Bristow'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
OIS	2.19	0.14	0.04	0.04	3.17	(2.25)	4.32	(5.19)	17.27
GEOS	1.98	(0.38)	0.00	(0.43)	0.00	0.00	2.85	(4.08)	19.90
WFRD	2.14	(0.48)	0.00	(0.38)	0.00	0.00	3.47	(4.59)	17.31
EFXT	1.81	(0.29)	0.00	(0.46)	0.00	0.00	3.10	(4.67)	11.43
RES	1.75	(0.13)	0.00	(0.32)	0.00	0.00	3.22	(3.92)	9.81
NOV	1.51	0.07	0.00	(0.01)	0.00	0.00	2.73	(3.67)	18.44
OII	1.92	(0.25)	0.00	(0.31)	0.00	0.00	2.97	(4.06)	10.81
WHD	1.63	(0.40)	0.00	(0.45)	0.00	0.00	2.72	(3.97)	13.49
AROC	2.15	0.15	0.03	0.04	3.50	(1.88)	4.32	(6.34)	15.51
SOI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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