Helix Energy Correlations

HLX Stock

USD 7.00 0.05 0.72%

The current 90-days correlation between Helix Energy Solutions and NPK International is 0.58 (i.e., Very weak diversification). The correlation of Helix Energy 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.

Helix Energy Correlation With Market

Weak diversification

The correlation between Helix Energy Solutions and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Helix Energy Solutions and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Helix Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Helix Energy Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Helix Stock

0.62	SLB	Schlumberger NV Aggressive Push	Pair Corr
0.64	TTI	Tetra Technologies Earnings Call This Week	Pair Corr
0.61	NESR	National Energy Services	Pair Corr
0.65	NGS	Natural Gas Services	Pair Corr

Moving against Helix Stock

0.48	600583	Offshore Oil Engineering	Pair Corr
0.34	JINDRILL	Jindal Drilling And Earnings Call This Week	Pair Corr
0.5	OMSE	OMS Energy Technologies Trending	Pair Corr
0.5	STAK	STAK Ordinary Shares	Pair Corr
0.45	PBCRY	Bank Central Asia	Pair Corr
0.42	PPERY	Bank Mandiri Persero Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NPKI	RES	TTI	NESR	VTS	GLP	HPK	VTOL	NVGS	DEC
NPKI		0.14	0.91	0.72	-0.52	-0.6	-0.52	0.45	-0.22	-0.52	NPKI
RES	0.14		-0.04	0.11	0.29	0.31	0.27	-0.06	0.44	0.35	RES
TTI	0.91	-0.04		0.65	-0.72	-0.76	-0.39	0.38	-0.44	-0.74	TTI
NESR	0.72	0.11	0.65		-0.33	-0.38	-0.75	0.47	-0.08	-0.34	NESR
VTS	-0.52	0.29	-0.72	-0.33		0.83	0.12	0.05	0.63	0.9	VTS
GLP	-0.6	0.31	-0.76	-0.38	0.83		0.32	-0.19	0.79	0.89	GLP
HPK	-0.52	0.27	-0.39	-0.75	0.12	0.32		-0.5	0.17	0.23	HPK
VTOL	0.45	-0.06	0.38	0.47	0.05	-0.19	-0.5		0.01	-0.07	VTOL
NVGS	-0.22	0.44	-0.44	-0.08	0.63	0.79	0.17	0.01		0.67	NVGS
DEC	-0.52	0.35	-0.74	-0.34	0.9	0.89	0.23	-0.07	0.67		DEC
	NPKI	RES	TTI	NESR	VTS	GLP	HPK	VTOL	NVGS	DEC

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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

TTI	+ 0.91	NPKI
DEC	+ 0.9	VTS
DEC	+ 0.89	GLP
GLP	+ 0.83	VTS
NVGS	+ 0.79	GLP
NESR	+ 0.72	NPKI

High negative correlations

GLP	- 0.76	TTI
HPK	- 0.75	NESR
DEC	- 0.74	TTI
VTS	- 0.72	TTI
GLP	- 0.6	NPKI
DEC	- 0.52	NPKI

Risk-Adjusted Indicators

There is a big difference between Helix Stock performing well and Helix Energy 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 Helix Energy'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
NPKI	1.41	0.45	0.33	0.42	1.00	(1.78)	3.73	(1.61)	7.67
RES	1.68	(0.17)	0.00	(0.01)	0.00	0.00	3.53	(3.90)	13.55
TTI	2.52	1.07	0.38	0.67	2.06	(3.10)	6.63	(4.80)	20.88
NESR	1.95	0.97	0.48	1.43	1.23	(2.40)	5.49	(2.96)	16.28
VTS	1.49	(0.24)	0.00	(0.13)	0.00	0.00	2.46	(3.27)	15.89
GLP	1.16	(0.20)	0.00	(0.30)	0.00	0.00	2.27	(2.37)	6.00
HPK	2.59	(0.42)	0.00	(0.81)	0.00	0.00	5.29	(6.23)	23.51
VTOL	1.54	0.05	0.02	0.12	1.80	(1.63)	3.29	(3.34)	13.04
NVGS	1.23	(0.09)	0.00	(0.06)	0.00	0.00	2.56	(2.20)	7.22
DEC	1.69	(0.25)	0.00	(0.35)	0.00	0.00	3.58	(3.46)	15.81

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