ChampionX Correlations

Stocks . Germany . 
Stock . ChampionX
X9P Stock  EUR 29.20  0.40  1.39%   
The current 90-days correlation between ChampionX and ARROW ELECTRONICS is 0.16 (i.e., Average diversification). The correlation of ChampionX 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.

ChampionX Correlation With Market

Very weak diversification

The correlation between ChampionX and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChampionX and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ChampionX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ChampionX 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 ChampionX - 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 ChampionX to buy it.

Moving together with ChampionX Stock

  0.94SCL Schlumberger LimitedPairCorr
  0.84HAL HalliburtonPairCorr
  0.82HAL HalliburtonPairCorr
  0.7368V Baker HughesPairCorr
  0.74TW1 Tenaris SAPairCorr
  0.62NO8 NOV IncPairCorr
  0.781T1 TechnipFMC PLCPairCorr
  0.65APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.67APC Apple IncPairCorr
  0.64APC Apple IncPairCorr
  0.62APC Apple IncPairCorr

Moving against ChampionX Stock

  0.44DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
RN7
+ 0.97
QBE
QBE
+ 0.92
CAI
RN7
+ 0.91
CAI
NEN
+ 0.71
SGM
ARW
+ 0.59
SGM
ARW
+ 0.33
ME5A
  
High negative correlations   
CAI
- 0.78
NEN
CAI
- 0.75
SGM
QBE
- 0.73
SGM
RN7
- 0.66
SGM
QBE
- 0.62
NEN
RN7
- 0.56
NEN

Risk-Adjusted Indicators

There is a big difference between ChampionX Stock performing well and ChampionX 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 ChampionX'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in ChampionX 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.

Did you try this?

Run Price Exposure Probability Now

   

Price Exposure Probability

Analyze equity upside and downside potential for a given time horizon across multiple markets
All  Next Launch Module

ChampionX Corporate Management

Elected by the shareholders, the ChampionX's board of directors comprises two types of representatives: ChampionX inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ChampionX. The board's role is to monitor ChampionX's management team and ensure that shareholders' interests are well served. ChampionX's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ChampionX's outside directors are responsible for providing unbiased perspectives on the board's policies.
Gary LuquetteIndependent DirectorProfile
Byron PopeVice President of ESG & Investor RelationsProfile
Stephen ToddIndependent DirectorProfile
Mamatha ChamarthiIndependent DirectorProfile
Mark EleyChemical TechnologyProfile
Robert GallowayPresident - Drilling TechnologiesProfile
Heidi AldermanDirectorProfile
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY