Civitas Resources Correlations

CIVI Stock

USD 29.32 0.18 0.62%

The current 90-days correlation between Civitas Resources and Chord Energy Corp is 0.9 (i.e., Almost no diversification). The correlation of Civitas Resources 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.

Civitas Resources Correlation With Market

Average diversification

The correlation between Civitas Resources and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Civitas Resources and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Civitas Stock

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

For more detail on how to invest in Civitas Stock please use our How to Invest in Civitas Resources guide.

Moving together with Civitas Stock

0.79	PR	Permian Resources	Pair Corr
0.77	SD	SandRidge Energy	Pair Corr
0.87	SM	SM Energy	Pair Corr
0.91	VTLE	Vital Energy	Pair Corr
0.67	EPSN	Epsilon Energy	Pair Corr
0.88	FANG	Diamondback Energy	Pair Corr
0.82	APA	APA Corporation Sell-off Trend	Pair Corr
0.8	BRY	Berry Petroleum Corp	Pair Corr
0.86	BTE	Baytex Energy Corp Earnings Call This Week	Pair Corr
0.78	CNQ	Canadian Natural Res	Pair Corr
0.87	COP	ConocoPhillips	Pair Corr
0.88	DVN	Devon Energy	Pair Corr
0.84	EGY	Vaalco Energy	Pair Corr
0.83	EOG	EOG Resources	Pair Corr
0.71	EPM	Evolution Petroleum	Pair Corr
0.77	GTE	Gran Tierra Energy	Pair Corr
0.7	HES	Hess	Pair Corr
0.67	HPK	Highpeak Energy Acqu	Pair Corr
0.9	KOS	Kosmos Energy	Pair Corr
0.66	KRP	Kimbell Royalty Partners	Pair Corr
0.8	MGY	Magnolia Oil Gas	Pair Corr
0.71	MNR	Mach Natural Resources	Pair Corr

Moving against Civitas Stock

0.36

TPL

Texas Pacific Land

Pair Corr

Related Correlations Analysis

	CHRD	MGY	MTDR
CHRD		0.87	0.94	CHRD
MGY	0.87		0.94	MGY
MTDR	0.94	0.94		MTDR
	CHRD	MGY	MTDR

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Risk-Adjusted Indicators

There is a big difference between Civitas Stock performing well and Civitas Resources 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 Civitas Resources' 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
CHRD	1.84	0.27	0.10	0.86	1.70	(2.22)	4.12	(3.22)	9.04
MGY	1.64	0.14	0.05	0.35	1.59	(2.03)	3.19	(3.56)	8.87
MTDR	1.92	0.40	0.16	1.52	1.67	(2.41)	4.54	(3.47)	11.06

Civitas Resources Corporate Management

Adrian JD	General VP	Profile
Adrian Milton	General VP	Profile
Brian Cain	Chief Sustainability Officer	Profile
Carrie Fox	Independent Director	Profile
Sandra Garbiso	Chief Accounting Officer, Treasurer	Profile

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