Evolution Petroleum Correlations

EPM Stock

USD 4.81 0.02 0.41%

The current 90-days correlation between Evolution Petroleum and Epsilon Energy is -0.04 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Evolution Petroleum moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolution Petroleum moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Evolution Petroleum Correlation With Market

Very good diversification

The correlation between Evolution Petroleum and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolution Petroleum and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Evolution Stock, please use our How to Invest in Evolution Petroleum guide.

Moving together with Evolution Stock

0.82	PR	Permian Resources Sell-off Trend	Pair Corr
0.89	SD	SandRidge Energy	Pair Corr
0.81	SM	SM Energy	Pair Corr
0.78	VTLE	Vital Energy	Pair Corr
0.8	EPSN	Epsilon Energy	Pair Corr
0.67	FANG	Diamondback Energy	Pair Corr
0.84	APA	APA Corporation	Pair Corr
0.75	BKV	BKV Corporation	Pair Corr
0.73	BRY	Berry Petroleum Corp	Pair Corr
0.89	BTE	Baytex Energy Corp Aggressive Push	Pair Corr
0.81	CNQ	Canadian Natural Res	Pair Corr
0.67	CNX	CNX Resources Corp	Pair Corr
0.61	COP	ConocoPhillips	Pair Corr
0.8	CRC	California Resources Corp	Pair Corr
0.69	CRK	Comstock Resources	Pair Corr
0.66	DVN	Devon Energy	Pair Corr
0.83	EGY	Vaalco Energy	Pair Corr
0.84	EOG	EOG Resources	Pair Corr
0.61	EQT	EQT Corporation	Pair Corr
0.72	GTE	Gran Tierra Energy	Pair Corr
0.87	HES	Hess	Pair Corr
0.77	HPK	Highpeak Energy Acqu	Pair Corr
0.79	KOS	Kosmos Energy Aggressive Push	Pair Corr
0.85	KRP	Kimbell Royalty Partners	Pair Corr
0.79	MGY	Magnolia Oil Gas	Pair Corr
0.85	MNR	Mach Natural Resources	Pair Corr
0.83	MUR	Murphy Oil	Pair Corr
0.79	MXC	Mexco Energy	Pair Corr

Moving against Evolution Stock

0.57	ANNAW	AleAnna, Warrant	Pair Corr
0.43	BSM	Black Stone Minerals	Pair Corr
0.38	DMLP	Dorchester Minerals	Pair Corr
0.81	TPL	Texas Pacific Land	Pair Corr
0.58	TXO	MorningStar Partners,	Pair Corr
0.4	REI	Ring Energy	Pair Corr

Related Correlations Analysis

	EPSN	EGY	PHX	NOG	MXC	BRN
EPSN		0.73	0.52	0.79	0.76	0.11	EPSN
EGY	0.73		0.65	0.84	0.74	0.02	EGY
PHX	0.52	0.65		0.61	0.6	-0.09	PHX
NOG	0.79	0.84	0.61		0.6	-0.17	NOG
MXC	0.76	0.74	0.6	0.6		0.41	MXC
BRN	0.11	0.02	-0.09	-0.17	0.41		BRN
	EPSN	EGY	PHX	NOG	MXC	BRN

Click cells to compare fundamentals

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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

NOG	+ 0.84	EGY
NOG	+ 0.79	EPSN
MXC	+ 0.76	EPSN
MXC	+ 0.74	EGY
EGY	+ 0.73	EPSN
PHX	+ 0.65	EGY

High negative correlations

BRN	- 0.17	NOG
BRN	- 0.09	PHX

Risk-Adjusted Indicators

There is a big difference between Evolution Stock performing well and Evolution 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 Evolution 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
EPSN	1.96	0.15	(0.01)	0.86	2.36	(1.96)	3.46	(4.00)	11.92
EGY	2.54	0.08	0.02	0.31	2.74	(2.93)	5.11	(4.03)	17.44
PHX	1.56	0.16	(0.03)	(1.88)	1.94	(2.30)	4.06	(3.93)	21.08
NOG	2.68	0.14	0.09	0.31	3.04	(3.12)	6.37	(4.53)	32.31
MXC	3.93	0.86	0.06	(0.31)	3.93	(6.38)	10.82	(8.31)	54.80
BRN	3.56	(0.03)	0.00	0.31	0.00	0.00	7.03	(6.25)	56.04

Evolution Petroleum Corporate Executives

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

Ryan Stash

Chief Financial Officer

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