Tidewater Correlations

TDW Stock

USD 47.93 0.69 1.42%

The current 90-days correlation between Tidewater and Valaris is 0.82 (i.e., Very poor diversification). The correlation of Tidewater 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.

Tidewater Correlation With Market

Modest diversification

The correlation between Tidewater and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tidewater and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tidewater Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tidewater. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For more information on how to buy Tidewater Stock please use our How to Invest in Tidewater guide.

Moving together with Tidewater Stock

0.93	TS	Tenaris SA ADR	Pair Corr
0.92	VTOL	Bristow Group	Pair Corr
0.91	EFXT	Enerflex	Pair Corr
0.88	WFRD	Weatherford International Earnings Call This Week	Pair Corr
0.73	WTTR	Select Energy Services	Pair Corr
0.77	BKR	Baker Hughes Earnings Call This Week	Pair Corr
0.72	DTI	Drilling Tools Inter	Pair Corr
0.85	FET	Forum Energy Technologies	Pair Corr
0.95	FTI	TechnipFMC PLC Earnings Call This Week	Pair Corr
0.73	FTK	Flotek Industries	Pair Corr
0.84	MRC	MRC Global	Pair Corr
0.77	NGS	Natural Gas Services	Pair Corr
0.87	NOV	NOV Inc Earnings Call This Week	Pair Corr
0.96	OII	Oceaneering International Earnings Call This Week	Pair Corr
0.96	OIS	Oil States International	Pair Corr
0.74	XPRO	Expro Group Holdings	Pair Corr
0.88	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.62	SLB	Schlumberger NV	Pair Corr
0.92	TTI	Tetra Technologies	Pair Corr
0.99	VAL	Valaris	Pair Corr
0.92	WHD	Cactus Inc	Pair Corr
0.64	GEOS	Geospace Technologies	Pair Corr
0.73	NESRW	National Energy Services	Pair Corr

Moving against Tidewater Stock

0.45	FLOC	Flowco Holdings	Pair Corr
0.44	LB	LandBridge Company	Pair Corr
0.52	HP	Helmerich and Payne Earnings Call This Week	Pair Corr
0.38	STAK	STAK Ordinary Shares	Pair Corr

Related Correlations Analysis

	VAL	WFRD	FTI	GEOS	WHD	NE	OII	INVX	OIS
VAL		0.9	0.94	0.61	0.9	0.97	0.96	0.48	0.95	VAL
WFRD	0.9		0.8	0.59	0.75	0.83	0.84	0.46	0.84	WFRD
FTI	0.94	0.8		0.66	0.93	0.96	0.98	0.4	0.96	FTI
GEOS	0.61	0.59	0.66		0.47	0.6	0.62	0.33	0.7	GEOS
WHD	0.9	0.75	0.93	0.47		0.94	0.96	0.4	0.91	WHD
NE	0.97	0.83	0.96	0.6	0.94		0.97	0.46	0.94	NE
OII	0.96	0.84	0.98	0.62	0.96	0.97		0.46	0.97	OII
INVX	0.48	0.46	0.4	0.33	0.4	0.46	0.46		0.41	INVX
OIS	0.95	0.84	0.96	0.7	0.91	0.94	0.97	0.41		OIS
	VAL	WFRD	FTI	GEOS	WHD	NE	OII	INVX	OIS

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Risk-Adjusted Indicators

There is a big difference between Tidewater Stock performing well and Tidewater 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 Tidewater'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
VAL	2.34	0.59	0.23	1.11	1.86	(2.71)	5.42	(3.69)	14.35
WFRD	2.45	0.47	0.08	(0.62)	2.93	(2.70)	6.10	(5.05)	14.59
FTI	1.40	0.31	0.17	0.58	1.26	(1.65)	2.99	(2.87)	13.70
GEOS	5.09	1.15	0.24	1.30	4.00	(6.69)	7.56	(8.70)	70.40
WHD	1.68	0.15	0.07	0.30	1.59	(1.94)	4.63	(2.90)	9.39
NE	1.93	0.46	0.19	0.82	1.70	(2.29)	5.09	(3.29)	11.80
OII	1.65	0.23	0.08	0.57	1.77	(1.90)	4.12	(3.32)	8.86
INVX	1.76	(0.01)	(0.03)	0.12	2.11	(2.01)	4.19	(4.19)	12.94
OIS	2.74	0.64	0.23	0.86	2.15	(3.44)	5.99	(4.30)	28.48

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