Berry Petroleum Correlations

BRY Stock

USD 3.11 0.11 3.67%

The current 90-days correlation between Berry Petroleum Corp and CNX Resources Corp is 0.14 (i.e., Average diversification). The correlation of Berry Petroleum 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.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Berry Petroleum Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Berry Stock

0.85	PR	Permian Resources	Pair Corr
0.84	SD	SandRidge Energy	Pair Corr
0.91	SM	SM Energy	Pair Corr
0.75	VTLE	Vital Energy	Pair Corr
0.69	FANG	Diamondback Energy	Pair Corr
0.83	APA	APA Corporation Sell-off Trend	Pair Corr
0.76	BKV	BKV Corporation	Pair Corr
0.77	BTE	Baytex Energy Corp Earnings Call This Week	Pair Corr
0.79	CNQ	Canadian Natural Res	Pair Corr
0.79	CNX	CNX Resources Corp Earnings Call This Week	Pair Corr
0.76	COP	ConocoPhillips	Pair Corr
0.79	CRC	California Resources Corp Buyout Trend	Pair Corr
0.63	CRK	Comstock Resources	Pair Corr
0.75	DEC	Diversified Energy	Pair Corr
0.91	DVN	Devon Energy	Pair Corr
0.9	EGY	Vaalco Energy	Pair Corr
0.91	EOG	EOG Resources	Pair Corr
0.75	EPM	Evolution Petroleum	Pair Corr
0.68	EQT	EQT Corporation Earnings Call This Week	Pair Corr
0.89	HES	Hess	Pair Corr
0.8	KOS	Kosmos Energy	Pair Corr
0.84	KRP	Kimbell Royalty Partners	Pair Corr
0.85	MGY	Magnolia Oil Gas	Pair Corr
0.88	MNR	Mach Natural Resources	Pair Corr

Moving against Berry Stock

0.64	ANNAW	AleAnna, Warrant	Pair Corr
0.58	BSM	Black Stone Minerals	Pair Corr
0.56	TPL	Texas Pacific Land	Pair Corr
0.38	TXO	MorningStar Partners,	Pair Corr

Related Correlations Analysis

	CNX	MVO	SJT	VOC	CRK	SM	PHX	RRC
CNX		0.06	0.11	-0.1	0.77	0.75	0.58	0.78	CNX
MVO	0.06		-0.16	0.4	-0.19	0.23	0.12	-0.08	MVO
SJT	0.11	-0.16		0.21	0.23	0.17	-0.21	0.5	SJT
VOC	-0.1	0.4	0.21		-0.21	-0.01	-0.3	-0.04	VOC
CRK	0.77	-0.19	0.23	-0.21		0.58	0.49	0.9	CRK
SM	0.75	0.23	0.17	-0.01	0.58		0.69	0.67	SM
PHX	0.58	0.12	-0.21	-0.3	0.49	0.69		0.39	PHX
RRC	0.78	-0.08	0.5	-0.04	0.9	0.67	0.39		RRC
	CNX	MVO	SJT	VOC	CRK	SM	PHX	RRC

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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

RRC	+ 0.9	CRK
RRC	+ 0.78	CNX
CRK	+ 0.77	CNX
SM	+ 0.75	CNX
PHX	+ 0.69	SM
RRC	+ 0.67	SM

High negative correlations

PHX	- 0.3	VOC
CRK	- 0.21	VOC
PHX	- 0.21	SJT
CRK	- 0.19	MVO
SJT	- 0.16	MVO
VOC	- 0.1	CNX

Risk-Adjusted Indicators

There is a big difference between Berry Stock performing well and Berry Petroleum 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 Berry Petroleum'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
CNX	1.35	0.16	0.02	2.99	1.99	(1.29)	2.47	(3.92)	9.94
MVO	1.75	0.06	(0.05)	(0.03)	2.04	(2.09)	3.68	(3.55)	10.75
SJT	2.35	0.29	0.04	(1.30)	2.80	(2.41)	5.44	(4.38)	15.90
VOC	1.91	0.31	0.05	(0.53)	2.01	(2.50)	4.38	(3.91)	24.41
CRK	2.32	0.40	0.07	(0.49)	2.51	(2.64)	6.52	(3.79)	17.78
SM	2.50	0.42	0.08	(1.28)	2.74	(2.80)	5.52	(4.42)	14.86
PHX	1.56	0.20	0.00	(0.33)	1.94	(2.30)	4.06	(3.93)	21.08
RRC	1.49	0.17	0.04	0.67	1.97	(1.55)	2.99	(3.39)	8.44

Berry Petroleum Corporate Executives

Elected by the shareholders, the Berry Petroleum's board of directors comprises two types of representatives: Berry Petroleum inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Berry. The board's role is to monitor Berry Petroleum's management team and ensure that shareholders' interests are well served. Berry Petroleum'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, Berry Petroleum's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Jeffrey Magids	VP CFO	Profile
	Jeff Magids	VP CFO	Profile

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