Weatherford International Correlations

WFRD Stock

USD 82.54 0.55 0.67%

The current 90-days correlation between Weatherford International and NOV Inc is 0.79 (i.e., Poor diversification). The correlation of Weatherford International 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.

Weatherford International Correlation With Market

Very weak diversification

The correlation between Weatherford International PLC and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Weatherford International PLC and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Weatherford International PLC. 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 Weatherford Stock

0.71	NR	Newpark Resources	Pair Corr
0.82	DTI	Drilling Tools Inter	Pair Corr
0.91	FET	Forum Energy Technologies	Pair Corr
0.86	NOV	NOV Inc Sell-off Trend	Pair Corr
0.85	XPRO	Expro Group Holdings	Pair Corr
0.8	TDW	Tidewater	Pair Corr
0.83	VAL	Valaris	Pair Corr
0.77	KLXE	KLX Energy Services	Pair Corr
0.79	LBRT	Liberty Oilfield Services Fiscal Year End 22nd of January 2025	Pair Corr

Moving against Weatherford Stock

0.52	TS	Tenaris SA ADR	Pair Corr
0.46	KGS	Kodiak Gas Services,	Pair Corr
0.45	EFXT	Enerflex	Pair Corr
0.39	FTK	Flotek Industries	Pair Corr
0.38	BKR	Baker Hughes Fiscal Year End 28th of January 2025	Pair Corr
0.32	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.47	PFIE	Profire Ene	Pair Corr
0.47	AE	Adams Resources Energy	Pair Corr
0.44	GEOS	Geospace Technologies	Pair Corr
0.32	RNGR	Ranger Energy Services	Pair Corr

Related Correlations Analysis

	VTOL	RES	NOV	OII	WHD	VAL	FTI	GEOS	TDW
VTOL		0.09	0.81	0.75	0.48	0.27	0.56	0.24	0.18	VTOL
RES	0.09		0.32	0.2	0.32	0.31	0.23	-0.3	0.3	RES
NOV	0.81	0.32		0.48	0.2	0.72	0.23	-0.16	0.64	NOV
OII	0.75	0.2	0.48		0.89	-0.19	0.93	0.58	-0.3	OII
WHD	0.48	0.32	0.2	0.89		-0.4	0.92	0.68	-0.51	WHD
VAL	0.27	0.31	0.72	-0.19	-0.4		-0.41	-0.64	0.96	VAL
FTI	0.56	0.23	0.23	0.93	0.92	-0.41		0.6	-0.5	FTI
GEOS	0.24	-0.3	-0.16	0.58	0.68	-0.64	0.6		-0.73	GEOS
TDW	0.18	0.3	0.64	-0.3	-0.51	0.96	-0.5	-0.73		TDW
	VTOL	RES	NOV	OII	WHD	VAL	FTI	GEOS	TDW

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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

TDW	+ 0.96	VAL
FTI	+ 0.93	OII
FTI	+ 0.92	WHD
WHD	+ 0.89	OII
NOV	+ 0.81	VTOL
OII	+ 0.75	VTOL

High negative correlations

TDW	- 0.73	GEOS
GEOS	- 0.64	VAL
TDW	- 0.51	WHD
TDW	- 0.5	FTI
FTI	- 0.41	VAL
VAL	- 0.4	WHD

Risk-Adjusted Indicators

There is a big difference between Weatherford Stock performing well and Weatherford International 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 Weatherford International'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
VTOL	1.54	(0.16)	0.00	(0.01)	0.00	0.00	2.89	(2.86)	12.05
RES	2.09	(0.19)	(0.04)	0.01	2.42	(2.40)	4.55	(4.55)	14.14
NOV	1.26	(0.31)	0.00	(0.14)	0.00	0.00	1.99	(2.72)	11.26
OII	2.12	(0.11)	0.01	0.07	2.48	(2.27)	4.23	(4.07)	15.31
WHD	1.92	(0.04)	0.03	0.10	2.19	(2.17)	3.85	(4.46)	16.21
VAL	2.01	(0.58)	0.00	(0.44)	0.00	0.00	3.56	(4.29)	10.17
FTI	1.60	0.10	0.05	0.21	2.20	(1.56)	3.52	(3.50)	9.70
GEOS	2.37	(0.03)	0.02	0.10	3.93	(2.37)	4.68	(3.88)	27.12
TDW	2.04	(1.04)	0.00	(0.55)	0.00	0.00	3.00	(4.88)	19.98

Weatherford International Corporate Management

Scott Weatherholt	General VP	Profile
Luke CFA	Senior Relations	Profile
David Reed	Executive Officer	Profile
Desmond Mills	Senior Officer	Profile
Sebastian Pellizzer	Director Relations	Profile
Kelley Hughes	Director Communications	Profile

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