Helmerich Correlations
| HP Stock | USD 40.39 0.05 0.12% |
The correlation of Helmerich 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Helmerich moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Helmerich and Payne moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Helmerich and Payne and NYA is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Helmerich and Payne and NYA in the same portfolio, assuming nothing else is changed.
Helmerich |
The ability to find closely correlated positions to Helmerich could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Helmerich when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Helmerich - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Helmerich and Payne to buy it.
Moving together with Helmerich Stock
| 0.76 | DO | Diamond Offshore Drilling Financial Report 13th of May 2024 | PairCorr |
| 0.81 | NE | Noble plc Earnings Call This Week | PairCorr |
| 0.83 | PDS | Precision Drilling | PairCorr |
| 0.73 | RIG | Transocean Aggressive Push | PairCorr |
| 0.75 | PTEN | Patterson UTI Energy Sell-off Trend | PairCorr |
| 0.82 | SDRL | Seadrill Limited Financial Report 28th of May 2024 | PairCorr |
| 0.71 | E | Eni SpA ADR | PairCorr |
| 0.72 | DINO | HF Sinclair Corp Financial Report 2nd of May 2024 | PairCorr |
| 0.71 | AE | Adams Resources Energy Financial Report 14th of May 2024 | PairCorr |
| 0.83 | AM | Antero Midstream Partners Sell-off Trend | PairCorr |
| 0.79 | AR | Antero Resources Corp | PairCorr |
| 0.86 | BP | BP PLC ADR Financial Report 7th of May 2024 | PairCorr |
| 0.84 | DK | Delek Energy Financial Report 13th of May 2024 | PairCorr |
Moving against Helmerich Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Helmerich Stock performing well and Helmerich 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 Helmerich'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NBR | 2.27 | (0.27) | 0.00 | (0.05) | 0.00 | 4.53 | 12.61 | |||
| PDS | 1.78 | 0.16 | 0.10 | 0.19 | 1.83 | 4.39 | 10.90 | |||
| DO | 1.87 | (0.04) | (0.01) | 0.05 | 2.27 | 3.48 | 12.21 | |||
| SDRL | 1.32 | 0.05 | 0.04 | 0.12 | 1.43 | 3.57 | 7.62 | |||
| PTEN | 1.82 | 0.00 | 0.03 | 0.08 | 1.79 | 3.86 | 17.29 | |||
| NE | 1.29 | (0.04) | (0.02) | 0.05 | 1.40 | 3.10 | 6.47 | |||
| BORR | 2.49 | (0.47) | 0.00 | (0.15) | 0.00 | 3.69 | 17.00 | |||
| RIG | 2.07 | (0.04) | (0.01) | 0.05 | 2.43 | 4.19 | 12.42 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Helmerich without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Top Crypto Exchanges Now
Top Crypto ExchangesSearch and analyze digital assets across top global cryptocurrency exchanges |
| All Next | Launch Module |
Helmerich Corporate Directors
Helmerich corporate directors refer to members of a Helmerich board of directors. The board of directors generally takes responsibility for the Helmerich's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Helmerich's board members must vote for the resolution. The Helmerich board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Edward Rust | Independent Director | Profile | |
| Francis Rooney | Independent Director | Profile | |
| Jose Mas | Independent Director | Profile | |
| Mary VanDeWeghe | Independent Director | Profile |
Already Invested in Helmerich and Payne?
The danger of trading Helmerich and Payne is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Helmerich is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Helmerich. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Helmerich and Payne is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Helmerich and Payne is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Helmerich Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Helmerich And Payne Stock. Highlighted below are key reports to facilitate an investment decision about Helmerich And Payne Stock: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Helmerich and Payne. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in american community survey. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Complementary Tools for Helmerich Stock analysis
When running Helmerich's price analysis, check to measure Helmerich's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Helmerich is operating at the current time. Most of Helmerich's value examination focuses on studying past and present price action to predict the probability of Helmerich's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Helmerich's price. Additionally, you may evaluate how the addition of Helmerich to your portfolios can decrease your overall portfolio volatility.
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |
Is Helmerich's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Helmerich. If investors know Helmerich will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Helmerich listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.46) | Dividend Share 1 | Earnings Share 3.49 | Revenue Per Share 27.592 | Quarterly Revenue Growth (0.11) |
The market value of Helmerich and Payne is measured differently than its book value, which is the value of Helmerich that is recorded on the company's balance sheet. Investors also form their own opinion of Helmerich's value that differs from its market value or its book value, called intrinsic value, which is Helmerich's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Helmerich's market value can be influenced by many factors that don't directly affect Helmerich's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Helmerich's value and its price as these two are different measures arrived at by different means. Investors typically determine if Helmerich is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Helmerich's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.