Texas Pacific Correlations

TPL Stock

USD 997.11 4.89 0.49%

The current 90-days correlation between Texas Pacific Land and Permian Resources is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Texas Pacific moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Texas Pacific Land moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Texas Pacific Correlation With Market

Modest diversification

The correlation between Texas Pacific Land and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Pacific Land and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Texas Stock

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

Moving together with Texas Stock

0.61	DMLP	Dorchester Minerals	Pair Corr
0.64	ANNAW	AleAnna, Warrant	Pair Corr
0.71	BSM	Black Stone Minerals	Pair Corr

Moving against Texas Stock

0.82	EPM	Evolution Petroleum	Pair Corr
0.76	EP	Empire Petroleum Corp	Pair Corr
0.75	CRC	California Resources Corp Buyout Trend	Pair Corr
0.74	DEC	Diversified Energy	Pair Corr
0.7	SD	SandRidge Energy	Pair Corr
0.69	APA	APA Corporation Sell-off Trend	Pair Corr
0.69	BTE	Baytex Energy Corp Earnings Call This Week	Pair Corr
0.68	SM	SM Energy	Pair Corr
0.66	EOG	EOG Resources	Pair Corr
0.65	EGY	Vaalco Energy	Pair Corr
0.63	CNQ	Canadian Natural Res	Pair Corr
0.63	CNX	CNX Resources Corp Earnings Call This Week	Pair Corr
0.61	PR	Permian Resources	Pair Corr
0.61	BKV	BKV Corporation	Pair Corr
0.61	EQT	EQT Corporation Earnings Call This Week	Pair Corr
0.57	CRK	Comstock Resources	Pair Corr
0.56	BRY	Berry Petroleum Corp	Pair Corr
0.52	VTLE	Vital Energy	Pair Corr
0.5	EPSN	Epsilon Energy	Pair Corr
0.42	FANG	Diamondback Energy	Pair Corr
0.41	DVN	Devon Energy	Pair Corr
0.36	COP	ConocoPhillips	Pair Corr
0.82	WDS	Woodside Energy Group	Pair Corr
0.81	OBE	Obsidian Energy	Pair Corr
0.8	VET	Vermilion Energy	Pair Corr
0.77	HES	Hess	Pair Corr
0.77	KRP	Kimbell Royalty Partners	Pair Corr
0.75	MNR	Mach Natural Resources	Pair Corr
0.74	WTI	WT Offshore	Pair Corr
0.73	PHX	PHX Minerals	Pair Corr
0.71	MUR	Murphy Oil	Pair Corr
0.7	VTS	Vitesse Energy	Pair Corr

Related Correlations Analysis

	PR	EXE	STR	EOG	TRC	MTDR	VNOM	MKTX	JOE
PR		0.58	0.86	0.85	0.13	0.93	0.04	-0.11	0.79	PR
EXE	0.58		0.65	0.37	-0.43	0.43	0.29	0.0	0.26	EXE
STR	0.86	0.65		0.61	-0.16	0.74	0.27	0.04	0.55	STR
EOG	0.85	0.37	0.61		0.4	0.88	-0.12	-0.15	0.8	EOG
TRC	0.13	-0.43	-0.16	0.4		0.35	-0.57	-0.27	0.54	TRC
MTDR	0.93	0.43	0.74	0.88	0.35		-0.24	-0.24	0.9	MTDR
VNOM	0.04	0.29	0.27	-0.12	-0.57	-0.24		0.15	-0.43	VNOM
MKTX	-0.11	0.0	0.04	-0.15	-0.27	-0.24	0.15		-0.25	MKTX
JOE	0.79	0.26	0.55	0.8	0.54	0.9	-0.43	-0.25		JOE
	PR	EXE	STR	EOG	TRC	MTDR	VNOM	MKTX	JOE

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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

MTDR	+ 0.93	PR
JOE	+ 0.9	MTDR
MTDR	+ 0.88	EOG
STR	+ 0.86	PR
EOG	+ 0.85	PR
JOE	+ 0.8	EOG

High negative correlations

VNOM	- 0.57	TRC
JOE	- 0.43	VNOM
TRC	- 0.43	EXE
MKTX	- 0.27	TRC
JOE	- 0.25	MKTX
MKTX	- 0.24	MTDR

Risk-Adjusted Indicators

There is a big difference between Texas Stock performing well and Texas Pacific 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 Texas Pacific'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
PR	1.84	0.28	0.11	0.83	1.57	(2.16)	4.66	(3.25)	13.71
EXE	1.28	0.12	(0.03)	(0.24)	1.75	(1.30)	2.43	(2.82)	8.20
STR	1.91	0.31	0.11	1.26	1.69	(2.45)	4.08	(3.23)	20.09
EOG	1.26	0.16	0.02	38.15	1.23	(1.47)	2.72	(2.30)	6.76
TRC	1.07	0.24	0.04	(0.72)	1.45	(1.11)	2.59	(1.99)	9.45
MTDR	1.92	0.40	0.16	1.52	1.67	(2.41)	4.54	(3.47)	11.06
VNOM	1.79	0.13	(0.04)	(0.09)	2.00	(2.10)	3.91	(3.48)	10.87
MKTX	1.08	(0.07)	0.00	0.53	0.00	0.00	1.88	(2.28)	7.77
JOE	1.28	0.07	0.06	0.19	1.42	(1.40)	2.88	(2.89)	8.50

Texas Pacific Corporate Management

Micheal JD	Secretary VP	Profile
Stephanie Buffington	Chief Accounting Officer	Profile
Eric Oliver	Independent Director	Profile
Sameer Parasnis	Executive Vice President Chief Commercial Officer	Profile
Donald Cook	Independent Director	Profile
Murray Stahl	Independent Director	Profile

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