EOG Resources Correlations

EOG Stock

USD 120.72 0.04 0.03%

The correlation of EOG 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.

EOG Resources Correlation With Market

Good diversification

The correlation between EOG Resources and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EOG Resources and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with EOG Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EOG 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 persons.

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

Moving together with EOG Stock

0.79	AR	Antero Resources Corp	Pair Corr
0.7	PR	Permian Resources	Pair Corr
0.9	SD	SandRidge Energy	Pair Corr
0.84	SM	SM Energy	Pair Corr
0.95	VTLE	Vital Energy	Pair Corr
0.8	FANG	Diamondback Energy	Pair Corr
0.81	APA	APA Corporation	Pair Corr
0.92	BRY	Berry Petroleum Corp	Pair Corr
0.95	BTE	Baytex Energy Corp	Pair Corr
0.7	CNQ	Canadian Natural Res	Pair Corr
0.83	COP	ConocoPhillips	Pair Corr
0.7	CRC	California Resources Corp	Pair Corr
0.95	DVN	Devon Energy	Pair Corr
0.93	EGY	Vaalco Energy	Pair Corr
0.89	EPM	Evolution Petroleum	Pair Corr
0.65	GFR	Greenfire Resources	Pair Corr
0.76	GTE	Gran Tierra Energy	Pair Corr
0.87	HES	Hess	Pair Corr
0.8	HPK	Highpeak Energy Acqu	Pair Corr
0.7	INR	Infinity Natural Res	Pair Corr
0.93	KOS	Kosmos Energy	Pair Corr
0.72	KRP	Kimbell Royalty Partners	Pair Corr
0.85	MGY	Magnolia Oil Gas	Pair Corr
0.88	MNR	Mach Natural Resources	Pair Corr

Moving against EOG Stock

0.44

ANNAW

AleAnna, Warrant

Pair Corr

Related Correlations Analysis

	PXD	PR	DVN	CTRA	MRO	FANG	COP	HES	APA	RRC
PXD		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PXD
PR	0.0		0.73	0.41	0.0	0.86	0.66	0.66	0.93	0.83	PR
DVN	0.0	0.73		0.78	0.0	0.85	0.85	0.87	0.84	0.76	DVN
CTRA	0.0	0.41	0.78		0.0	0.68	0.76	0.86	0.65	0.47	CTRA
MRO	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MRO
FANG	0.0	0.86	0.85	0.68	0.0		0.91	0.9	0.97	0.66	FANG
COP	0.0	0.66	0.85	0.76	0.0	0.91		0.93	0.83	0.46	COP
HES	0.0	0.66	0.87	0.86	0.0	0.9	0.93		0.86	0.57	HES
APA	0.0	0.93	0.84	0.65	0.0	0.97	0.83	0.86		0.76	APA
RRC	0.0	0.83	0.76	0.47	0.0	0.66	0.46	0.57	0.76		RRC
	PXD	PR	DVN	CTRA	MRO	FANG	COP	HES	APA	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

APA	+ 0.97	FANG
APA	+ 0.93	PR
HES	+ 0.93	COP
COP	+ 0.91	FANG
HES	+ 0.9	FANG
HES	+ 0.87	DVN

High negative correlations

RRC	- 0.0	MRO
APA	- 0.0	MRO
HES	- 0.0	MRO
COP	- 0.0	MRO
FANG	- 0.0	MRO
MRO	- 0.0	CTRA

Risk-Adjusted Indicators

There is a big difference between EOG Stock performing well and EOG 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 EOG 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
PXD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PR	2.48	0.01	0.01	0.04	4.18	(2.49)	4.66	(4.82)	25.76
DVN	2.41	(0.09)	0.00	0.56	0.00	0.00	3.44	(6.34)	26.60
CTRA	1.65	(0.08)	0.00	1.58	0.00	0.00	3.12	(4.52)	14.43
MRO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FANG	2.39	(0.20)	0.00	(0.09)	0.00	0.00	4.75	(5.17)	21.87
COP	1.94	(0.21)	0.00	(0.12)	0.00	0.00	3.57	(4.16)	19.69
HES	1.57	(0.21)	0.00	(0.14)	0.00	0.00	2.15	(3.30)	16.05
APA	3.13	(0.17)	0.00	(0.04)	0.00	0.00	5.31	(7.91)	31.78
RRC	1.95	0.10	0.02	(0.77)	3.58	(1.75)	3.40	(4.55)	14.32

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