| AMPY Stock | | | USD 6.61 0.26 3.78% |
The current 90-days correlation between Amplify Energy Corp and Evolution Petroleum is 0.4 (i.e., Very weak diversification). The correlation of Amplify Energy 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.
Amplify Energy Correlation With Market
Weak diversification
The correlation between Amplify Energy Corp and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Energy Corp and DJI in the same portfolio, assuming nothing else is changed.
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