ConocoPhillips Correlations
COP Stock | USD 95.35 0.27 0.28% |
The current 90-days correlation between ConocoPhillips and EOG Resources is 0.02 (i.e., Significant diversification). The correlation of ConocoPhillips 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.
ConocoPhillips Correlation With Market
Significant diversification
The correlation between ConocoPhillips and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ConocoPhillips and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with ConocoPhillips Stock
0.84 | SM | SM Energy Earnings Call This Week | PairCorr |
0.72 | MTDR | Matador Resources | PairCorr |
0.75 | VTLE | Vital Energy | PairCorr |
0.78 | APA | APA Corporation | PairCorr |
0.79 | BRY | Berry Petroleum Corp | PairCorr |
0.8 | BTE | Baytex Energy Corp Aggressive Push | PairCorr |
0.65 | CNQ | Canadian Natural Res Earnings Call This Week | PairCorr |
0.83 | EGY | Vaalco Energy | PairCorr |
0.63 | EOG | EOG Resources | PairCorr |
0.69 | EPM | Evolution Petroleum | PairCorr |
Moving against ConocoPhillips Stock
0.43 | NEHC | New Era Helium | PairCorr |
0.41 | ANNAW | AleAnna, Warrant | PairCorr |
0.38 | HPKEW | HighPeak Energy | PairCorr |
0.4 | TPL | Texas Pacific Land | PairCorr |
0.32 | EXE | Expand Energy Earnings Call This Week | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between ConocoPhillips Stock performing well and ConocoPhillips 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 ConocoPhillips' 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
EOG | 1.22 | 0.09 | (0.07) | 0.58 | 1.23 | 2.72 | 6.76 | |||
DVN | 1.73 | 0.07 | (0.01) | 0.35 | 1.54 | 3.24 | 10.10 | |||
FANG | 1.67 | 0.06 | (0.04) | 0.39 | 1.78 | 3.64 | 10.27 | |||
CVX | 1.01 | 0.16 | 0.01 | 0.64 | 0.90 | 2.27 | 6.32 | |||
PSX | 1.54 | 0.11 | 0.07 | 0.32 | 1.80 | 3.57 | 14.54 | |||
XOM | 1.09 | 0.02 | (0.09) | 0.32 | 1.37 | 2.18 | 6.28 | |||
BP | 1.27 | 0.19 | 0.01 | 0.98 | 1.33 | 3.37 | 7.14 | |||
VLO | 1.56 | 0.17 | 0.09 | 0.40 | 1.63 | 3.54 | 9.91 |