Flotek Industries Correlations

FTK Stock

USD 14.86 0.24 1.64%

The current 90-days correlation between Flotek Industries and Playstudios is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Flotek Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Flotek Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Flotek Industries Correlation With Market

Significant diversification

The correlation between Flotek Industries and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flotek Industries 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 Flotek Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Flotek Stock please use our How to buy in Flotek Stock guide.

Moving together with Flotek Stock

0.68	EFXT	Enerflex	Pair Corr
0.61	WFRD	Weatherford International	Pair Corr
0.87	DTI	Drilling Tools Inter	Pair Corr
0.8	FTI	TechnipFMC PLC	Pair Corr
0.84	MRC	MRC Global	Pair Corr
0.94	NGS	Natural Gas Services	Pair Corr
0.89	NOA	North American Const	Pair Corr
0.66	OII	Oceaneering International	Pair Corr
0.74	OIS	Oil States International	Pair Corr
0.83	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.81	TDW	Tidewater	Pair Corr
0.81	VAL	Valaris	Pair Corr
0.75	WHD	Cactus Inc	Pair Corr
0.71	NESRW	National Energy Services	Pair Corr
0.68	NEXT	Nextdecade Corp	Pair Corr

Moving against Flotek Stock

0.51	FLOC	Flowco Holdings	Pair Corr
0.31	CLB	Core Laboratories	Pair Corr
0.32	SND	Smart Sand	Pair Corr

Related Correlations Analysis

	WDC	MTX	MOLN	PLNT	MYPS	BNTX	SCWTF	JOUT
WDC		0.0	-0.22	0.89	0.49	0.52	0.52	0.94	WDC
MTX	0.0		0.05	0.01	0.16	-0.15	-0.34	0.11	MTX
MOLN	-0.22	0.05		-0.27	0.06	-0.17	0.07	-0.23	MOLN
PLNT	0.89	0.01	-0.27		0.29	0.53	0.45	0.81	PLNT
MYPS	0.49	0.16	0.06	0.29		0.09	0.42	0.58	MYPS
BNTX	0.52	-0.15	-0.17	0.53	0.09		0.59	0.39	BNTX
SCWTF	0.52	-0.34	0.07	0.45	0.42	0.59		0.39	SCWTF
JOUT	0.94	0.11	-0.23	0.81	0.58	0.39	0.39		JOUT
	WDC	MTX	MOLN	PLNT	MYPS	BNTX	SCWTF	JOUT

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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

JOUT	+ 0.94	WDC
PLNT	+ 0.89	WDC
JOUT	+ 0.81	PLNT
SCWTF	+ 0.59	BNTX
JOUT	+ 0.58	MYPS
BNTX	+ 0.53	PLNT

High negative correlations

SCWTF	- 0.34	MTX
PLNT	- 0.27	MOLN
JOUT	- 0.23	MOLN
MOLN	- 0.22	WDC
BNTX	- 0.17	MOLN
BNTX	- 0.15	MTX

Risk-Adjusted Indicators

There is a big difference between Flotek Stock performing well and Flotek Industries 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 Flotek Industries' 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
WDC	2.08	0.77	0.13	2.55	3.72	(2.19)	5.59	(2.26)	20.43
MTX	1.96	(0.07)	0.00	0.81	0.00	0.00	4.15	(4.46)	18.95
MOLN	3.41	(0.22)	0.00	(0.59)	0.00	0.00	8.03	(7.97)	22.81
PLNT	1.52	0.19	0.04	(1.08)	1.76	(1.68)	4.41	(2.82)	9.12
MYPS	3.05	0.12	0.00	(0.55)	3.33	(3.71)	7.20	(5.77)	21.32
BNTX	2.70	0.28	0.05	(2.79)	3.33	(3.35)	6.03	(4.30)	25.06
SCWTF	0.06	0.02	0.00	2.65	0.00	0.00	0.00	0.00	1.99
JOUT	2.29	0.43	0.12	195.55	2.41	(2.57)	4.79	(3.58)	10.84

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