NPK International Correlations

NPKI Stock

8.43 0.06 0.71%

The current 90-days correlation between NPK International and Universal is 0.07 (i.e., Significant diversification). The correlation of NPK International 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.

NPK International Correlation With Market

Modest diversification

The correlation between NPK International and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NPK International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NPK Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NPK International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more detail on how to invest in NPK Stock please use our How to Invest in NPK International guide.

Moving together with NPK Stock

0.71	TS	Tenaris SA ADR	Pair Corr
0.62	VTOL	Bristow Group	Pair Corr
0.77	EFXT	Enerflex	Pair Corr
0.67	WFRD	Weatherford International Earnings Call This Week	Pair Corr
0.78	DTI	Drilling Tools Inter	Pair Corr
0.87	FTI	TechnipFMC PLC Earnings Call This Week	Pair Corr
0.87	FTK	Flotek Industries	Pair Corr
0.87	MRC	MRC Global	Pair Corr
0.81	NGS	Natural Gas Services	Pair Corr
0.68	NOA	North American Const Earnings Call This Week	Pair Corr
0.64	NOV	NOV Inc Earnings Call This Week	Pair Corr
0.86	OII	Oceaneering International Earnings Call This Week	Pair Corr
0.87	OIS	Oil States International	Pair Corr
0.8	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.84	TDW	Tidewater	Pair Corr
0.76	TTI	Tetra Technologies	Pair Corr
0.82	VAL	Valaris	Pair Corr
0.88	WHD	Cactus Inc	Pair Corr

Moving against NPK Stock

0.38	FLOC	Flowco Holdings	Pair Corr
0.67	HP	Helmerich and Payne Earnings Call This Week	Pair Corr
0.38	STAK	STAK Ordinary Shares	Pair Corr

Related Correlations Analysis

	UVV	SNDVF	NTGR	SPMMF	KO	BCE	TTGT	PLAY
UVV		-0.45	0.62	0.0	-0.09	-0.06	-0.2	0.24	UVV
SNDVF	-0.45		-0.38	0.0	0.31	-0.53	0.67	-0.79	SNDVF
NTGR	0.62	-0.38		0.0	-0.45	0.2	-0.05	0.4	NTGR
SPMMF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SPMMF
KO	-0.09	0.31	-0.45	0.0		-0.34	0.1	-0.5	KO
BCE	-0.06	-0.53	0.2	0.0	-0.34		-0.4	0.69	BCE
TTGT	-0.2	0.67	-0.05	0.0	0.1	-0.4		-0.65	TTGT
PLAY	0.24	-0.79	0.4	0.0	-0.5	0.69	-0.65		PLAY
	UVV	SNDVF	NTGR	SPMMF	KO	BCE	TTGT	PLAY

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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

PLAY	+ 0.69	BCE
TTGT	+ 0.67	SNDVF
NTGR	+ 0.62	UVV
PLAY	+ 0.4	NTGR
KO	+ 0.31	SNDVF
PLAY	+ 0.24	UVV

High negative correlations

PLAY	- 0.79	SNDVF
PLAY	- 0.65	TTGT
BCE	- 0.53	SNDVF
PLAY	- 0.5	KO
KO	- 0.45	NTGR
SNDVF	- 0.45	UVV

Risk-Adjusted Indicators

There is a big difference between NPK Stock performing well and NPK International 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 NPK International'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
UVV	1.29	0.06	(0.01)	0.27	1.43	(1.49)	2.12	(2.24)	14.71
SNDVF	0.31	(0.11)	0.00	0.58	0.00	0.00	0.00	0.00	11.08
NTGR	2.02	0.21	0.11	0.32	1.74	(2.64)	5.16	(2.66)	22.43
SPMMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KO	0.75	(0.08)	0.00	(0.26)	0.00	0.00	1.55	(1.28)	4.81
BCE	1.15	0.17	0.02	(1.84)	1.19	(1.35)	2.19	(1.87)	7.86
TTGT	3.66	(0.34)	0.00	(0.03)	0.00	0.00	9.24	(10.45)	26.68
PLAY	3.13	0.69	0.26	0.61	2.34	(3.71)	9.24	(5.12)	22.98

NPK International Corporate Management

Douglas CPA	Chief VP	Profile
Celeste Fruge	General VP	Profile
David Paterson	Corporate Systems	Profile
Lori Briggs	Executive Operations	Profile

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