APA Correlations

APA Stock

USD 22.91 0.09 0.39%

The current 90-days correlation between APA Corporation and Diamondback Energy is 0.66 (i.e., Poor diversification). The correlation of APA 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.

APA Correlation With Market

Modest diversification

The correlation between APA Corp. and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding APA Corp. and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with APA Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in APA Corporation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with APA Stock

0.78	CDA	Canuc Resources Corp	Pair Corr
0.92	SD	SandRidge Energy	Pair Corr
0.8	JGH	Jade Gas Holdings	Pair Corr
0.81	RBY	Rubellite Energy	Pair Corr
0.81	SDE	Spartan Delta Corp	Pair Corr
0.73	SEPL	Seplat Petroleum Dev	Pair Corr
0.67	VNOM	Viper Energy Ut	Pair Corr
0.73	LGN	Logan Energy Corp	Pair Corr
0.95	EFXT	Enerflex	Pair Corr
0.79	OBE	Obsidian Energy	Pair Corr
0.74	EONR	EON Resources	Pair Corr
0.78	PSK	PrairieSky Royalty Earnings Call This Week	Pair Corr
0.79	CAD	Cadogan Petroleum plc	Pair Corr

Moving against APA Stock

0.55	CLON	Clontarf Energy Plc	Pair Corr
0.5	DMLP	Dorchester Minerals	Pair Corr
0.44	EP	Empire Petroleum Corp	Pair Corr
0.36	VG	Venture Global,	Pair Corr
0.91	VIST	Vista Oil Gas	Pair Corr
0.81	VIVK	Vivakor	Pair Corr
0.38	ZEN	Zenith Energy	Pair Corr
0.83	EPSN	Epsilon Energy	Pair Corr
0.42	CDR	Condor Energies	Pair Corr

Related Correlations Analysis

	EOG	FANG	HES	DVN	OXY
EOG		0.08	-0.69	0.14	0.26	EOG
FANG	0.08		0.06	0.38	0.28	FANG
HES	-0.69	0.06		0.49	0.34	HES
DVN	0.14	0.38	0.49		0.91	DVN
OXY	0.26	0.28	0.34	0.91		OXY
	EOG	FANG	HES	DVN	OXY

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

OXY	+ 0.91	DVN
DVN	+ 0.49	HES
DVN	+ 0.38	FANG
OXY	+ 0.34	HES
OXY	+ 0.28	FANG
OXY	+ 0.26	EOG

High negative correlations

HES

- 0.69

EOG

Risk-Adjusted Indicators

There is a big difference between APA Stock performing well and APA 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 APA'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	1.05	(0.20)	0.00	(0.21)	0.00	0.00	2.19	(3.02)	7.13
FANG	1.45	(0.06)	(0.03)	(0.01)	1.86	(1.50)	2.99	(3.15)	9.13
HES	1.13	0.25	0.13	(0.73)	1.20	(1.27)	2.15	(2.46)	7.28
DVN	1.56	(0.07)	0.00	(0.01)	0.00	0.00	3.49	(3.24)	9.13
OXY	1.43	(0.16)	0.00	(0.13)	0.00	0.00	2.48	(3.64)	12.35

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

2025 Macroaxis LLC