Expro Group Correlations

XPRO Stock

USD 9.17 0.43 4.48%

The current 90-days correlation between Expro Group Holdings and ChampionX is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Expro Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Expro Group Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Expro Group Correlation With Market

Poor diversification

The correlation between Expro Group Holdings and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Expro Group Holdings and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Expro Group Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Expro Stock

0.9	TS	Tenaris SA ADR Earnings Call This Week	Pair Corr
0.84	VTOL	Bristow Group	Pair Corr
0.84	EFXT	Enerflex	Pair Corr
0.89	WFRD	Weatherford International	Pair Corr
0.91	WTTR	Select Energy Services	Pair Corr
0.9	BKR	Baker Hughes	Pair Corr
0.87	CHX	ChampionX Sell-off Trend	Pair Corr
0.8	CLB	Core Laboratories	Pair Corr
0.94	FET	Forum Energy Technologies	Pair Corr
0.91	HAL	Halliburton Aggressive Push	Pair Corr
0.9	HLX	Helix Energy Solutions	Pair Corr
0.65	KGS	Kodiak Gas Services,	Pair Corr
0.95	NOV	NOV Inc	Pair Corr
0.88	OII	Oceaneering International	Pair Corr
0.8	OIS	Oil States International	Pair Corr
0.84	RES	RPC Inc	Pair Corr
0.87	SLB	Schlumberger NV Sell-off Trend	Pair Corr
0.78	SND	Smart Sand	Pair Corr
0.69	TDW	Tidewater	Pair Corr
0.67	VAL	Valaris	Pair Corr
0.81	WHD	Cactus Inc	Pair Corr
0.88	INVX	Innovex International, Symbol Change	Pair Corr
0.85	KLXE	KLX Energy Services	Pair Corr
0.93	LBRT	Liberty Oilfield Services	Pair Corr
0.66	NCSM	NCS Multistage Holdings	Pair Corr
0.73	NESR	National Energy Services	Pair Corr
0.76	NEXT	Nextdecade Corp	Pair Corr

Related Correlations Analysis

	CHX	RNGR	WHD	MRC	HLX	OII	DRQ	NR	RES	NGS
CHX		0.83	0.71	0.29	0.91	0.82	0.0	0.0	0.89	0.39	CHX
RNGR	0.83		0.49	-0.07	0.91	0.6	0.0	0.0	0.91	0.03	RNGR
WHD	0.71	0.49		0.75	0.64	0.97	0.0	0.0	0.57	0.78	WHD
MRC	0.29	-0.07	0.75		0.07	0.66	0.0	0.0	0.16	0.82	MRC
HLX	0.91	0.91	0.64	0.07		0.75	0.0	0.0	0.86	0.17	HLX
OII	0.82	0.6	0.97	0.66	0.75		0.0	0.0	0.69	0.72	OII
DRQ	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	DRQ
NR	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NR
RES	0.89	0.91	0.57	0.16	0.86	0.69	0.0	0.0		0.13	RES
NGS	0.39	0.03	0.78	0.82	0.17	0.72	0.0	0.0	0.13		NGS
	CHX	RNGR	WHD	MRC	HLX	OII	DRQ	NR	RES	NGS

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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

OII	+ 0.97	WHD
HLX	+ 0.91	CHX
HLX	+ 0.91	RNGR
RES	+ 0.91	RNGR
RES	+ 0.89	CHX
RES	+ 0.86	HLX

High negative correlations

MRC	- 0.07	RNGR
NGS	- 0.0	NR
RES	- 0.0	NR
NGS	- 0.0	DRQ
RES	- 0.0	DRQ
NR	- 0.0	DRQ

Risk-Adjusted Indicators

There is a big difference between Expro Stock performing well and Expro Group 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 Expro Group'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
CHX	1.79	(0.17)	0.00	(0.09)	0.00	0.00	3.82	(4.27)	20.30
RNGR	2.57	(0.21)	0.00	(0.12)	0.00	0.00	3.45	(5.70)	24.48
WHD	2.21	(0.06)	0.00	(0.01)	0.00	0.00	4.63	(6.60)	19.78
MRC	1.91	0.11	0.04	0.11	2.70	(2.05)	5.96	(3.67)	15.36
HLX	2.57	(0.27)	0.00	(0.13)	0.00	0.00	4.91	(8.14)	23.19
OII	2.36	(0.04)	0.00	0.00	4.30	(2.30)	4.20	(6.56)	23.09
DRQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RES	2.43	(0.09)	0.00	(0.03)	0.00	0.00	3.99	(4.94)	19.15
NGS	2.52	0.35	0.08	0.27	3.82	(2.37)	4.41	(5.62)	24.06

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