Drilling Tools Correlations
| DTI Stock | 2.51 0.14 5.91% |
The current 90-days correlation between Drilling Tools Inter and flyExclusive, is 0.01 (i.e., Significant diversification). The correlation of Drilling Tools 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.
Drilling Tools Correlation With Market
Poor diversification
The correlation between Drilling Tools International and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Drilling Tools International and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Drilling Stock
| 0.8 | TS | Tenaris SA ADR | PairCorr |
| 0.89 | DWSN | Dawson Geophysical Earnings Call Today | PairCorr |
| 0.92 | VTOL | Bristow Group | PairCorr |
| 0.79 | EFXT | Enerflex | PairCorr |
| 0.91 | WFRD | Weatherford International | PairCorr |
| 0.86 | WTTR | Select Energy Services Buyout Trend | PairCorr |
| 0.88 | FLOC | Flowco Holdings | PairCorr |
| 0.86 | BKR | Baker Hughes | PairCorr |
| 0.85 | CHX | ChampionX | PairCorr |
| 0.85 | CLB | Core Laboratories | PairCorr |
| 0.67 | FET | Forum Energy Technologies | PairCorr |
| 0.88 | HAL | Halliburton | PairCorr |
| 0.82 | HLX | Helix Energy Solutions | PairCorr |
| 0.84 | KGS | Kodiak Gas Services, | PairCorr |
| 0.74 | MRC | MRC Global | PairCorr |
| 0.9 | NGS | Natural Gas Services | PairCorr |
| 0.88 | NOA | North American Const | PairCorr |
| 0.87 | NOV | NOV Inc | PairCorr |
| 0.83 | OII | Oceaneering International | PairCorr |
| 0.89 | OIS | Oil States International | PairCorr |
| 0.91 | XPRO | Expro Group Holdings | PairCorr |
| 0.85 | RES | RPC Inc Potential Growth | PairCorr |
| 0.87 | SEI | Solaris Energy Infra Symbol Change | PairCorr |
| 0.85 | SLB | Schlumberger NV | PairCorr |
| 0.86 | TDW | Tidewater | PairCorr |
| 0.92 | TTI | Tetra Technologies | PairCorr |
| 0.76 | VAL | Valaris | PairCorr |
| 0.9 | WHD | Cactus Inc | PairCorr |
| 0.9 | GEOS | Geospace Technologies | PairCorr |
| 0.66 | INVX | Innovex International, Symbol Change | PairCorr |
| 0.93 | KLXE | KLX Energy Services | PairCorr |
| 0.92 | LBRT | Liberty Oilfield Services | PairCorr |
| 0.84 | NESRW | National Energy Services | PairCorr |
| 0.91 | NESR | National Energy Services | PairCorr |
Related Correlations Analysis
| 0.38 | -0.53 | 0.02 | 0.59 | 0.0 | 0.51 | SCHL | ||
| 0.38 | -0.64 | 0.28 | 0.53 | 0.0 | 0.56 | PKE | ||
| -0.53 | -0.64 | -0.19 | -0.66 | 0.0 | -0.6 | IDPUF | ||
| 0.02 | 0.28 | -0.19 | 0.39 | 0.0 | -0.02 | UTI | ||
| 0.59 | 0.53 | -0.66 | 0.39 | 0.0 | 0.52 | DAO | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ZNAE | ||
| 0.51 | 0.56 | -0.6 | -0.02 | 0.52 | 0.0 | FLYX | ||
| 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 Drilling Stock performing well and Drilling Tools 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 Drilling Tools' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SCHL | 2.53 | 0.13 | 0.06 | 0.19 | 3.38 | 4.98 | 20.96 | |||
| PKE | 1.21 | (0.03) | 0.00 | (0.17) | 0.00 | 2.19 | 9.42 | |||
| IDPUF | 0.02 | 0.00 | 0.00 | (0.52) | 0.00 | 0.00 | 0.79 | |||
| UTI | 2.52 | 0.46 | 0.14 | 0.31 | 2.91 | 5.56 | 12.93 | |||
| DAO | 3.85 | 0.35 | 0.07 | 0.24 | 5.02 | 6.56 | 60.77 | |||
| ZNAE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FLYX | 3.64 | 0.05 | 0.03 | (0.02) | 4.20 | 8.26 | 21.59 |
Drilling Tools Corporate Management
| Veda Ragsdill | Vice Resources | Profile | |
| Aldo Rodriguez | Vice Sales | Profile | |
| Jameson Parker | Vice Development | Profile | |
| David Johnson | Chief Officer | Profile |