Woodside Energy Correlations
| WDS Stock | USD 14.20 0.22 1.53% |
The current 90-days correlation between Woodside Energy Group and EOG Resources is 0.25 (i.e., Modest diversification). The correlation of Woodside Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Woodside Energy Correlation With Market
Modest diversification
The correlation between Woodside Energy Group and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Woodside Energy Group and DJI in the same portfolio, assuming nothing else is changed.
Woodside |
Moving together with Woodside Stock
| 0.74 | PR | Permian Resources | PairCorr |
| 0.75 | SM | SM Energy | PairCorr |
| 0.67 | DMLP | Dorchester Minerals | PairCorr |
| 0.66 | VIST | Vista Oil Gas | PairCorr |
| 0.77 | VTLE | Vital Energy | PairCorr |
| 0.76 | EONR | EON Resources Symbol Change | PairCorr |
| 0.75 | FANG | Diamondback Energy | PairCorr |
| 0.71 | APA | APA Corporation | PairCorr |
| 0.61 | BKV | BKV Corporation | PairCorr |
| 0.8 | BRY | Berry Petroleum Corp | PairCorr |
| 0.77 | BTE | Baytex Energy Corp | PairCorr |
| 0.69 | DEC | Diversified Energy | PairCorr |
| 0.67 | EPM | Evolution Petroleum | PairCorr |
| 0.77 | GFR | Greenfire Resources | PairCorr |
| 0.63 | GTE | Gran Tierra Energy | PairCorr |
| 0.69 | HPK | Highpeak Energy Acqu | PairCorr |
| 0.76 | KOS | Kosmos Energy | PairCorr |
| 0.63 | KRP | Kimbell Royalty Partners | PairCorr |
| 0.69 | MNR | Mach Natural Resources | 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 Woodside Stock performing well and Woodside Energy 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 Woodside Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EOG | 1.16 | 0.02 | 0.04 | (0.02) | 1.66 | 2.35 | 8.25 | |||
| APA | 1.86 | (0.04) | 0.00 | (0.11) | 0.00 | 3.02 | 14.84 | |||
| RRC | 1.73 | 0.23 | 0.11 | 0.62 | 2.24 | 3.19 | 12.31 | |||
| FANG | 1.42 | 0.00 | 0.00 | (0.06) | 0.00 | 2.24 | 9.40 | |||
| MUR | 1.82 | (0.12) | 0.00 | (0.28) | 0.00 | 3.83 | 12.15 | |||
| CHRD | 1.50 | (0.06) | 0.00 | (0.19) | 0.00 | 2.69 | 11.59 | |||
| MTDR | 1.73 | (0.06) | 0.00 | (0.14) | 0.00 | 3.60 | 13.35 | |||
| MGY | 1.52 | 0.05 | 0.04 | 0.01 | 2.02 | 2.88 | 9.02 | |||
| ESTE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PDCE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |