Murphy Oil Correlations
MUR Stock | USD 24.33 0.15 0.61% |
The current 90-days correlation between Murphy Oil and Magnolia Oil Gas is 0.86 (i.e., Very poor diversification). The correlation of Murphy Oil 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.
Murphy Oil Correlation With Market
Good diversification
The correlation between Murphy Oil and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Murphy Oil and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Murphy Stock
0.88 | PR | Permian Resources | PairCorr |
0.82 | SD | SandRidge Energy | PairCorr |
0.96 | SM | SM Energy Earnings Call This Week | PairCorr |
0.82 | VTLE | Vital Energy | PairCorr |
0.78 | FANG | Diamondback Energy | PairCorr |
0.94 | APA | APA Corporation | PairCorr |
0.69 | BKV | BKV Corporation | PairCorr |
0.92 | BRY | Berry Petroleum Corp | PairCorr |
0.9 | BTE | Baytex Energy Corp Earnings Call Today | PairCorr |
0.84 | CNQ | Canadian Natural Res Earnings Call This Week | PairCorr |
0.73 | CNX | CNX Resources Corp Earnings Call Tomorrow | PairCorr |
0.83 | COP | ConocoPhillips | PairCorr |
0.84 | CRC | California Resources Corp | PairCorr |
0.76 | DEC | Diversified Energy | PairCorr |
0.86 | DVN | Devon Energy | PairCorr |
0.91 | EGY | Vaalco Energy | PairCorr |
0.91 | EOG | EOG Resources | PairCorr |
0.89 | EPM | Evolution Petroleum | PairCorr |
0.91 | HES | Hess Earnings Call This Week | PairCorr |
0.92 | KOS | Kosmos Energy | PairCorr |
0.88 | KRP | Kimbell Royalty Partners | PairCorr |
0.9 | MGY | Magnolia Oil Gas Earnings Call This Week | PairCorr |
0.89 | MNR | Mach Natural Resources | PairCorr |
Moving against Murphy Stock
0.67 | ANNAW | AleAnna, Warrant | PairCorr |
0.52 | BSM | Black Stone Minerals | PairCorr |
0.33 | DMLP | Dorchester Minerals | PairCorr |
0.72 | TPL | Texas Pacific Land Earnings Call This Week | PairCorr |
0.44 | TXO | MorningStar Partners, | PairCorr |
Related Correlations Analysis
0.93 | 0.76 | 0.79 | 0.82 | 0.96 | 0.94 | MGY | ||
0.93 | 0.91 | 0.72 | 0.69 | 0.95 | 0.94 | MTDR | ||
0.76 | 0.91 | 0.61 | 0.46 | 0.81 | 0.84 | HES | ||
0.79 | 0.72 | 0.61 | 0.52 | 0.81 | 0.86 | CIVI | ||
0.82 | 0.69 | 0.46 | 0.52 | 0.71 | 0.63 | RRC | ||
0.96 | 0.95 | 0.81 | 0.81 | 0.71 | 0.97 | APA | ||
0.94 | 0.94 | 0.84 | 0.86 | 0.63 | 0.97 | SM | ||
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Risk-Adjusted Indicators
There is a big difference between Murphy Stock performing well and Murphy Oil 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 Murphy Oil'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
MGY | 1.67 | 0.23 | 0.01 | (0.71) | 1.64 | 3.19 | 8.87 | |||
MTDR | 1.95 | 0.49 | 0.12 | (0.82) | 1.75 | 4.54 | 11.06 | |||
HES | 1.13 | 0.25 | 0.05 | (2.34) | 1.20 | 2.15 | 7.28 | |||
CIVI | 2.76 | 0.31 | 0.02 | (0.44) | 3.14 | 6.98 | 16.27 | |||
RRC | 1.61 | 0.18 | (0.03) | (0.24) | 2.51 | 2.99 | 8.44 | |||
APA | 2.44 | 0.49 | 0.09 | (1.01) | 2.54 | 5.34 | 13.80 | |||
SM | 2.52 | 0.38 | 0.05 | (0.95) | 2.79 | 5.52 | 14.87 |