Worley Parsons Correlations

WYGPY Stock  USD 10.11  1.34  15.28%   
The current 90-days correlation between Worley Parsons and Saipem SpA is -0.04 (i.e., Good diversification). The correlation of Worley Parsons 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.

Worley Parsons Correlation With Market

Good diversification

The correlation between Worley Parsons and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Worley Parsons and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Worley Parsons could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Worley Parsons when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Worley Parsons - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Worley Parsons to buy it.

Moving together with Worley Pink Sheet

  0.71JPM JPMorgan ChasePairCorr
  0.66MMM 3M CompanyPairCorr
  0.7GE GE AerospacePairCorr

Moving against Worley Pink Sheet

  0.31MSFT MicrosoftPairCorr

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   
PLSDFSMGI
CFWFFPOFCY
BRYFFSAPMF
CFWFFPLSDF
BRYFFSMGI
SAPMFPOFCY
  
High negative correlations   
SMGIPOFCY
PLSDFPOFCY
CFWFFBRYFF
SMGISAPMF
BRYFFPOFCY
PLSDFSAPMF

Risk-Adjusted Indicators

There is a big difference between Worley Pink Sheet performing well and Worley Parsons 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 Worley Parsons' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Worley Parsons without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Worley Parsons Corporate Management

Mark BrantleyGroup APACProfile
Verena PrestonGroup RelationsProfile
Mark TruemanInvestor Relations OfficerProfile
Tiernan ORourkeChief OfficerProfile
Vikki PinkChief OfficerProfile