APA Correlations

APA Stock

USD 18.94 0.65 3.55%

The current 90-days correlation between APA Corporation and Albertsons Companies is -0.12 (i.e., Good 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

Poor diversification

The correlation between APA Corp. and DJI is 0.71 (i.e., Poor 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 american community survey.

Moving together with APA Stock

0.85	AR	Antero Resources Corp	Pair Corr
0.93	PR	Permian Resources	Pair Corr
0.94	SD	SandRidge Energy	Pair Corr
0.97	SM	SM Energy	Pair Corr
0.7	VIST	Vista Oil Gas Earnings Call This Week	Pair Corr
0.95	VTLE	Vital Energy	Pair Corr
0.7	EPSN	Epsilon Energy	Pair Corr
0.96	FANG	Diamondback Energy	Pair Corr
0.8	BKV	BKV Corporation	Pair Corr
0.9	BRY	Berry Petroleum Corp	Pair Corr
0.9	BTE	Baytex Energy Corp	Pair Corr
0.87	CNQ	Canadian Natural Res	Pair Corr
0.67	CNX	CNX Resources Corp	Pair Corr
0.8	COP	ConocoPhillips	Pair Corr
0.87	CRC	California Resources Corp	Pair Corr
0.78	DEC	Diversified Energy	Pair Corr
0.93	DVN	Devon Energy	Pair Corr
0.88	EGY	Vaalco Energy	Pair Corr
0.92	EOG	EOG Resources	Pair Corr
0.89	EPM	Evolution Petroleum	Pair Corr
0.67	EQT	EQT Corporation	Pair Corr
0.7	EXE	Expand Energy Symbol Change	Pair Corr
0.85	GTE	Gran Tierra Energy	Pair Corr
0.85	HES	Hess	Pair Corr
0.91	HPK	Highpeak Energy Acqu	Pair Corr
0.85	INR	Infinity Natural Res	Pair Corr
0.89	KOS	Kosmos Energy Buyout Trend	Pair Corr
0.9	KRP	Kimbell Royalty Partners	Pair Corr
0.97	MGY	Magnolia Oil Gas	Pair Corr
0.88	MNR	Mach Natural Resources	Pair Corr

Moving against APA Stock

0.32

ANNAW

AleAnna, Warrant

Pair Corr

Related Correlations Analysis

	TW	ACI	CDW	MAT	ANPDY	PLTK	BC	DOOO
TW		0.31	0.63	0.7	0.5	0.12	0.47	0.1	TW
ACI	0.31		0.24	0.08	0.24	0.15	-0.11	-0.25	ACI
CDW	0.63	0.24		0.84	0.75	-0.23	0.67	0.47	CDW
MAT	0.7	0.08	0.84		0.58	-0.28	0.89	0.59	MAT
ANPDY	0.5	0.24	0.75	0.58		-0.1	0.56	0.51	ANPDY
PLTK	0.12	0.15	-0.23	-0.28	-0.1		-0.3	-0.48	PLTK
BC	0.47	-0.11	0.67	0.89	0.56	-0.3		0.81	BC
DOOO	0.1	-0.25	0.47	0.59	0.51	-0.48	0.81		DOOO
	TW	ACI	CDW	MAT	ANPDY	PLTK	BC	DOOO

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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

BC	+ 0.89	MAT
MAT	+ 0.84	CDW
DOOO	+ 0.81	BC
ANPDY	+ 0.75	CDW
MAT	+ 0.7	TW
BC	+ 0.67	CDW

High negative correlations

DOOO	- 0.48	PLTK
BC	- 0.3	PLTK
PLTK	- 0.28	MAT
DOOO	- 0.25	ACI
PLTK	- 0.23	CDW
BC	- 0.11	ACI

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
TW	1.43	(0.12)	0.00	(0.12)	0.00	0.00	2.47	(4.01)	13.52
ACI	1.31	0.04	(0.02)	(1.21)	1.93	(1.28)	2.60	(2.60)	9.71
CDW	1.77	0.08	0.04	0.14	2.38	(1.95)	3.49	(3.34)	17.23
MAT	2.13	(0.02)	0.00	0.06	3.85	(2.11)	4.60	(4.07)	18.82
ANPDY	1.52	0.12	0.02	2.18	2.40	(1.56)	2.88	(2.52)	13.08
PLTK	1.94	(0.11)	0.00	(0.03)	0.00	0.00	4.62	(3.87)	16.32
BC	2.47	(0.02)	0.01	0.07	3.64	(2.61)	5.70	(5.15)	22.61
DOOO	2.24	0.50	0.18	0.52	2.31	(2.55)	5.75	(4.12)	19.19

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