Cross Timbers Correlations
CRT Stock | USD 9.51 0.30 3.06% |
The current 90-days correlation between Cross Timbers Royalty and San Juan Basin is -0.12 (i.e., Good diversification). The correlation of Cross Timbers 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.
Cross Timbers Correlation With Market
Modest diversification
The correlation between Cross Timbers Royalty and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cross Timbers Royalty and DJI in the same portfolio, assuming nothing else is changed.
Moving against Cross Stock
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0.57 | BKV | BKV Corporation | PairCorr |
0.56 | APA | APA Corporation Sell-off Trend | PairCorr |
0.56 | CNQ | Canadian Natural Res | PairCorr |
0.53 | DVN | Devon Energy | PairCorr |
0.53 | EPM | Evolution Petroleum | PairCorr |
0.52 | SD | SandRidge Energy | PairCorr |
0.52 | BRY | Berry Petroleum Corp | PairCorr |
0.5 | SM | SM Energy | PairCorr |
0.5 | EOG | EOG Resources | PairCorr |
0.5 | EQT | EQT Corporation Earnings Call Today | PairCorr |
0.47 | CNX | CNX Resources Corp Earnings Call This Week | PairCorr |
0.47 | EGY | Vaalco Energy | PairCorr |
0.46 | FANG | Diamondback Energy | PairCorr |
0.46 | CRK | Comstock Resources Earnings Call This Week | PairCorr |
0.42 | VTLE | Vital Energy | PairCorr |
0.42 | BTE | Baytex Energy Corp Earnings Call This Week | PairCorr |
0.39 | EPSN | Epsilon Energy | PairCorr |
0.34 | COP | ConocoPhillips | PairCorr |
0.31 | AR | Antero Resources Corp | PairCorr |
0.31 | VIST | Vista Oil Gas | PairCorr |
0.59 | OVV | Ovintiv Earnings Call This Week | PairCorr |
0.59 | WDS | Woodside Energy Group | PairCorr |
0.58 | KRP | Kimbell Royalty Partners | PairCorr |
0.57 | NOG | Northern Oil Gas | PairCorr |
0.56 | OXY | Occidental Petroleum | PairCorr |
0.56 | VTS | Vitesse Energy | PairCorr |
0.55 | MGY | Magnolia Oil Gas | PairCorr |
0.55 | STR | Sitio Royalties Corp | PairCorr |
0.54 | HES | Hess | PairCorr |
0.53 | MUR | Murphy Oil | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Cross Stock performing well and Cross Timbers 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 Cross Timbers' 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
SBR | 0.75 | 0.05 | (0.06) | 0.42 | 0.90 | 1.57 | 4.25 | |||
MTR | 3.27 | 0.62 | 0.05 | (0.48) | 5.91 | 5.36 | 66.90 | |||
SJT | 2.35 | 0.29 | 0.04 | (1.30) | 2.80 | 5.44 | 15.90 | |||
PBT | 1.23 | 0.43 | 0.16 | 3.34 | 1.50 | 2.82 | 9.14 | |||
NRT | 1.80 | 0.31 | 0.11 | 9.62 | 1.38 | 5.20 | 10.45 |