ChampionX Correlations

CHX Stock

USD 25.81 0.79 2.97%

The current 90-days correlation between ChampionX and NOV Inc is -0.06 (i.e., Good diversification). The correlation of ChampionX 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.

ChampionX Correlation With Market

Good diversification

The correlation between ChampionX and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChampionX and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ChampionX Stock

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

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

Moving together with ChampionX Stock

0.64	WFRD	Weatherford International Earnings Call This Week	Pair Corr
0.65	WTTR	Select Energy Services	Pair Corr
0.64	FET	Forum Energy Technologies	Pair Corr

Moving against ChampionX Stock

0.43	KGS	Kodiak Gas Services,	Pair Corr
0.34	LB	LandBridge Company	Pair Corr
0.31	HP	Helmerich and Payne Earnings Call This Week	Pair Corr

Related Correlations Analysis

	VTOL	RES	NOV	OII	WHD	MGY	WFRD	LBRT
VTOL		0.49	0.87	0.87	0.75	0.82	0.89	0.43	VTOL
RES	0.49		0.55	0.35	0.23	0.36	0.56	0.45	RES
NOV	0.87	0.55		0.9	0.84	0.93	0.84	0.7	NOV
OII	0.87	0.35	0.9		0.96	0.95	0.84	0.56	OII
WHD	0.75	0.23	0.84	0.96		0.94	0.75	0.61	WHD
MGY	0.82	0.36	0.93	0.95	0.94		0.81	0.67	MGY
WFRD	0.89	0.56	0.84	0.84	0.75	0.81		0.37	WFRD
LBRT	0.43	0.45	0.7	0.56	0.61	0.67	0.37		LBRT
	VTOL	RES	NOV	OII	WHD	MGY	WFRD	LBRT

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Risk-Adjusted Indicators

There is a big difference between ChampionX Stock performing well and ChampionX 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 ChampionX'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
VTOL	1.51	0.32	0.12	1.00	1.63	(1.69)	3.34	(2.95)	8.56
RES	1.96	0.03	(0.05)	(0.01)	2.31	(2.32)	4.11	(3.61)	11.92
NOV	1.71	0.11	0.01	0.42	1.65	(2.11)	3.94	(3.01)	9.52
OII	1.65	0.23	0.08	0.57	1.77	(1.90)	4.12	(3.32)	8.86
WHD	1.68	0.15	0.07	0.30	1.59	(1.94)	4.63	(2.90)	9.39
MGY	1.64	0.14	0.05	0.35	1.59	(2.03)	3.19	(3.56)	8.87
WFRD	2.45	0.47	0.08	(0.62)	2.93	(2.70)	6.10	(5.05)	14.59
LBRT	2.60	(0.04)	(0.02)	0.08	3.30	(2.77)	5.73	(6.01)	15.48

ChampionX Corporate Management

Julia JD	General VP	Profile
Mamatha Chamarthi	Independent Director	Profile
Antoine Marcos	Chief Accounting Officer, Vice President Corporate Controller	Profile
Stuart Porter	Director	Profile
Daniel Rabun	Independent Chairman of the Board	Profile
Syed Raza	Senior Vice President Chief Digital Officer	Profile
Jordan Zweig	Senior Officer	Profile

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