WT Offshore Correlations

WTI Stock

USD 1.94 0.03 1.57%

The current 90-days correlation between WT Offshore and Evolution Petroleum is 0.25 (i.e., Modest diversification). The correlation of WT Offshore 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.

WT Offshore Correlation With Market

Average diversification

The correlation between WT Offshore and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WT Offshore 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 WT Offshore. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in WTI Stock please use our How to Invest in WT Offshore guide.

Moving together with WTI Stock

0.65	EONR	EON Resources Symbol Change	Pair Corr
0.65	EGY	Vaalco Energy	Pair Corr

Moving against WTI Stock

0.41	MRO	Marathon Oil	Pair Corr
0.32	PHX	PHX Minerals	Pair Corr

Related Correlations Analysis

	EPM	REI	GTE	ESTE	CPE	PR	PED	RRC	CHK	AR
EPM		-0.09	-0.2	0.43	0.25	0.81	0.03	0.83	-0.19	0.85	EPM
REI	-0.09		0.49	-0.24	-0.23	-0.13	0.15	-0.31	0.31	-0.21	REI
GTE	-0.2	0.49		0.12	0.3	0.11	-0.04	-0.08	0.05	-0.09	GTE
ESTE	0.43	-0.24	0.12		0.84	0.7	-0.6	0.68	0.21	0.61	ESTE
CPE	0.25	-0.23	0.3	0.84		0.55	-0.42	0.51	-0.05	0.41	CPE
PR	0.81	-0.13	0.11	0.7	0.55		-0.21	0.92	-0.04	0.91	PR
PED	0.03	0.15	-0.04	-0.6	-0.42	-0.21		-0.24	-0.6	-0.17	PED
RRC	0.83	-0.31	-0.08	0.68	0.51	0.92	-0.24		-0.14	0.97	RRC
CHK	-0.19	0.31	0.05	0.21	-0.05	-0.04	-0.6	-0.14		-0.08	CHK
AR	0.85	-0.21	-0.09	0.61	0.41	0.91	-0.17	0.97	-0.08		AR
	EPM	REI	GTE	ESTE	CPE	PR	PED	RRC	CHK	AR

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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

AR	+ 0.97	RRC
RRC	+ 0.92	PR
AR	+ 0.91	PR
AR	+ 0.85	EPM
CPE	+ 0.84	ESTE
RRC	+ 0.83	EPM

High negative correlations

CHK	- 0.6	PED
PED	- 0.6	ESTE
PED	- 0.42	CPE
RRC	- 0.31	REI
RRC	- 0.24	PED
ESTE	- 0.24	REI

Risk-Adjusted Indicators

There is a big difference between WTI Stock performing well and WT Offshore 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 WT Offshore'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
EPM	1.84	0.15	0.06	0.31	1.81	(2.22)	3.99	(3.20)	20.30
REI	2.49	(0.39)	0.00	(0.18)	0.00	0.00	4.43	(5.33)	18.99
GTE	2.44	(0.23)	0.00	(0.26)	0.00	0.00	4.84	(4.69)	10.37
ESTE	2.25	0.09	0.01	0.31	2.66	(2.41)	4.37	(4.80)	10.76
CPE	2.33	(0.02)	(0.03)	0.08	3.03	(2.30)	4.32	(5.23)	12.38
PR	1.62	0.05	0.02	0.19	1.97	(1.76)	2.90	(3.33)	8.22
PED	2.02	(0.08)	(0.05)	0.00	2.24	(2.90)	3.49	(3.30)	22.97
RRC	1.40	0.19	0.10	0.35	1.47	(1.53)	3.64	(2.66)	8.94
CHK	1.21	0.05	(0.08)	0.00	1.47	(1.29)	2.63	(2.45)	5.88
AR	1.79	0.19	0.08	0.30	2.03	(1.87)	4.91	(2.73)	13.54

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