Halliburton Correlations

HAL Stock

18.33 0.16 0.87%

The current 90-days correlation between Halliburton and Broadcom is 0.13 (i.e., Average diversification). The correlation of Halliburton 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.

Halliburton Correlation With Market

Good diversification

The correlation between Halliburton and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Halliburton and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Halliburton could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Halliburton when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Halliburton - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Halliburton to buy it.

Moving together with Halliburton Stock

0.78	SCL	Schlumberger Limited	Pair Corr
0.83	HAL	Halliburton Earnings Call This Week	Pair Corr
0.62	68V	Baker Hughes Earnings Call This Week	Pair Corr
0.84	NO8	NOV Inc	Pair Corr

Moving against Halliburton Stock

0.35	BRH	Berkshire Hathaway	Pair Corr
0.49	ALV	Allianz SE	Pair Corr

Related Correlations Analysis

	1YD	YRB	E5M	9TG	E5M	GTR	VMC	9IRA
1YD		0.87	-0.48	0.94	-0.51	0.11	0.23	0.67	1YD
YRB	0.87		-0.32	0.76	-0.36	0.12	0.14	0.59	YRB
E5M	-0.48	-0.32		-0.68	0.98	0.24	0.47	-0.23	E5M
9TG	0.94	0.76	-0.68		-0.7	-0.01	0.15	0.56	9TG
E5M	-0.51	-0.36	0.98	-0.7		0.21	0.43	-0.25	E5M
GTR	0.11	0.12	0.24	-0.01	0.21		0.57	-0.05	GTR
VMC	0.23	0.14	0.47	0.15	0.43	0.57		0.11	VMC
9IRA	0.67	0.59	-0.23	0.56	-0.25	-0.05	0.11		9IRA
	1YD	YRB	E5M	9TG	E5M	GTR	VMC	9IRA

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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

E5M	+ 0.98	E5M
9TG	+ 0.94	1YD
YRB	+ 0.87	1YD
9TG	+ 0.76	YRB
9IRA	+ 0.67	1YD
9IRA	+ 0.59	YRB

High negative correlations

E5M	- 0.7	9TG
9TG	- 0.68	E5M
E5M	- 0.51	1YD
E5M	- 0.48	1YD
E5M	- 0.36	YRB
E5M	- 0.32	YRB

Risk-Adjusted Indicators

There is a big difference between Halliburton Stock performing well and Halliburton 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 Halliburton'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
1YD	1.96	0.61	0.29	1.38	1.48	(2.43)	5.06	(3.20)	12.96
YRB	1.34	0.45	0.22	1.05	1.05	(1.82)	2.93	(1.94)	11.21
E5M	1.88	(0.14)	0.00	(0.26)	0.00	0.00	3.55	(3.45)	14.81
9TG	1.01	0.31	0.13	8.64	1.01	(1.19)	2.45	(1.99)	5.88
E5M	1.68	(0.09)	0.00	0.57	0.00	0.00	3.49	(3.96)	11.30
GTR	2.38	0.21	0.01	(0.47)	2.25	(2.97)	6.07	(3.38)	18.24
VMC	1.28	0.07	(0.02)	0.55	1.31	(1.79)	2.52	(2.54)	11.02
9IRA	3.08	0.72	0.20	2.69	2.52	(4.40)	7.97	(5.19)	21.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Halliburton without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Halliburton Corporate Management

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

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