Nabors Energy Correlations
NETD Stock | 11.23 0.12 1.08% |
The current 90-days correlation between Nabors Energy Transition and Aehr Test Systems is 0.09 (i.e., Significant diversification). The correlation of Nabors 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.
Nabors Energy Correlation With Market
Significant diversification
The correlation between Nabors Energy Transition 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 Nabors Energy Transition and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Nabors Stock
0.85 | GS | Goldman Sachs Group | PairCorr |
0.79 | AXP | American Express | PairCorr |
0.82 | COF | Capital One Financial Earnings Call This Week | PairCorr |
0.86 | SCM | Stellus Capital Inve | PairCorr |
0.66 | GAIN | Gladstone Investment | PairCorr |
0.86 | GLAD | Gladstone Capital | PairCorr |
0.85 | HTGC | Hercules Capital | PairCorr |
0.88 | MAIN | Main Street Capital | PairCorr |
0.63 | OPFI | OppFi Inc | PairCorr |
0.86 | PFLT | PennantPark Floating Rate | PairCorr |
0.68 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
0.83 | ALLY | Ally Financial | PairCorr |
0.86 | ARCC | Ares Capital | PairCorr |
0.83 | TPVG | Triplepoint Venture | PairCorr |
0.86 | TSLX | Sixth Street Specialty | PairCorr |
0.85 | CSWC | Capital Southwest | PairCorr |
0.86 | C | Citigroup Aggressive Push | PairCorr |
0.77 | L | Loews Corp | PairCorr |
0.77 | DHIL | Diamond Hill Investment | PairCorr |
0.61 | AB | AllianceBernstein Earnings Call This Week | PairCorr |
0.65 | AC | Associated Capital | PairCorr |
0.82 | AX | Axos Financial | PairCorr |
0.8 | BK | Bank of New York | PairCorr |
0.83 | BN | Brookfield Corp | PairCorr |
0.76 | BX | Blackstone Group Normal Trading | PairCorr |
0.85 | CG | Carlyle Group Earnings Call This Week | PairCorr |
0.86 | CM | Canadian Imperial Bank | PairCorr |
0.81 | DB | Deutsche Bank AG Earnings Call This Week | PairCorr |
0.62 | HG | Hamilton Insurance Group, | PairCorr |
0.84 | IX | Orix Corp Ads | PairCorr |
Moving against Nabors Stock
0.46 | PSEC | Prospect Capital | PairCorr |
0.59 | EG | Everest Group | PairCorr |
0.54 | FG | FG Annuities Life | PairCorr |
0.47 | LX | Lexinfintech Holdings | PairCorr |
0.34 | CB | Chubb Earnings Call This Week | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nabors Stock performing well and Nabors 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 Nabors 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
EVVTY | 1.75 | 0.13 | 0.02 | 0.41 | 3.78 | 3.50 | 22.66 | |||
ACLS | 2.32 | 0.71 | 0.20 | (2.57) | 2.20 | 6.44 | 13.36 | |||
AEHR | 3.64 | 0.70 | 0.21 | 0.43 | 3.52 | 9.25 | 26.55 | |||
GFS | 1.69 | 0.11 | 0.08 | 0.21 | 1.77 | 4.42 | 10.76 | |||
GMWKF | 1.87 | 0.41 | 0.08 | (0.61) | 2.28 | 3.46 | 12.93 | |||
NTES | 1.37 | 0.48 | 0.26 | (7.69) | 0.94 | 2.85 | 17.19 | |||
AMKR | 1.78 | 0.20 | 0.12 | 0.27 | 1.73 | 3.82 | 11.83 | |||
SOHU | 2.13 | 0.88 | 0.25 | 4.19 | 2.43 | 5.31 | 16.05 |