Enerflex Correlations

EFXT Stock

USD 7.97 0.08 1.01%

The current 90-days correlation between Enerflex and MRC Global is 0.11 (i.e., Average diversification). The correlation of Enerflex 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.

Enerflex Correlation With Market

Good diversification

The correlation between Enerflex and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enerflex and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Enerflex Stock

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

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

Moving together with Enerflex Stock

0.93	TS	Tenaris SA ADR	Pair Corr
0.89	VTOL	Bristow Group	Pair Corr
0.88	WFRD	Weatherford International Earnings Call This Week	Pair Corr
0.73	WTTR	Select Energy Services	Pair Corr
0.8	BKR	Baker Hughes Earnings Call This Week	Pair Corr
0.79	DTI	Drilling Tools Inter	Pair Corr
0.9	FET	Forum Energy Technologies	Pair Corr
0.92	FTI	TechnipFMC PLC Earnings Call This Week	Pair Corr
0.74	FTK	Flotek Industries	Pair Corr
0.8	MRC	MRC Global	Pair Corr
0.87	NGS	Natural Gas Services	Pair Corr
0.85	NOV	NOV Inc Earnings Call This Week	Pair Corr
0.92	OII	Oceaneering International Earnings Call This Week	Pair Corr
0.92	OIS	Oil States International	Pair Corr
0.71	XPRO	Expro Group Holdings	Pair Corr
0.88	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.91	TDW	Tidewater	Pair Corr
0.88	TTI	Tetra Technologies	Pair Corr
0.92	VAL	Valaris	Pair Corr
0.85	WHD	Cactus Inc	Pair Corr
0.72	GEOS	Geospace Technologies	Pair Corr
0.85	NESRW	National Energy Services	Pair Corr

Moving against Enerflex Stock

0.65	FLOC	Flowco Holdings	Pair Corr
0.48	STAK	STAK Ordinary Shares	Pair Corr

Related Correlations Analysis

	GEOS	MRC	NOA	NGS	XPRO	RNGR	ACDC	KNTK	WTTR
GEOS		0.57	0.1	0.54	0.36	0.36	0.43	-0.23	0.57	GEOS
MRC	0.57		0.49	0.77	0.44	0.0	0.67	0.26	0.53	MRC
NOA	0.1	0.49		0.77	0.55	0.06	0.78	0.55	0.26	NOA
NGS	0.54	0.77	0.77		0.55	0.12	0.88	0.46	0.51	NGS
XPRO	0.36	0.44	0.55	0.55		0.52	0.72	0.1	0.64	XPRO
RNGR	0.36	0.0	0.06	0.12	0.52		0.21	-0.32	0.6	RNGR
ACDC	0.43	0.67	0.78	0.88	0.72	0.21		0.32	0.56	ACDC
KNTK	-0.23	0.26	0.55	0.46	0.1	-0.32	0.32		-0.23	KNTK
WTTR	0.57	0.53	0.26	0.51	0.64	0.6	0.56	-0.23		WTTR
	GEOS	MRC	NOA	NGS	XPRO	RNGR	ACDC	KNTK	WTTR

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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

ACDC	+ 0.88	NGS
ACDC	+ 0.78	NOA
NGS	+ 0.77	MRC
NGS	+ 0.77	NOA
ACDC	+ 0.72	XPRO
ACDC	+ 0.67	MRC

High negative correlations

KNTK	- 0.32	RNGR
WTTR	- 0.23	KNTK
KNTK	- 0.23	GEOS
RNGR	- 0.0	MRC

Risk-Adjusted Indicators

There is a big difference between Enerflex Stock performing well and Enerflex 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 Enerflex'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
GEOS	5.09	1.15	0.24	1.30	4.00	(6.69)	7.56	(8.70)	70.40
MRC	1.95	0.40	0.17	0.58	1.84	(2.31)	5.96	(2.70)	19.71
NOA	1.40	0.12	(0.01)	(0.77)	1.87	(1.40)	2.76	(2.84)	7.48
NGS	2.13	0.60	0.12	(0.47)	2.28	(2.19)	3.99	(3.75)	24.06
XPRO	2.62	0.03	0.00	0.18	3.19	(2.68)	5.82	(5.36)	14.58
RNGR	2.06	(0.01)	0.00	0.15	0.00	0.00	3.45	(4.14)	14.41
ACDC	4.47	0.84	0.15	1.71	4.49	(5.11)	10.60	(7.46)	27.14
KNTK	1.74	(0.10)	(0.04)	0.03	2.29	(1.78)	3.78	(3.93)	9.26
WTTR	2.05	0.29	0.05	(6.49)	2.83	(2.34)	4.39	(3.69)	15.80

Enerflex Corporate Management

Benjamin CPA	VP Controller	Profile
Jeffrey CFA	Vice Relations	Profile
Stefan Ali	Risk Strategy	Profile
David Izett	Senior Counsel	Profile
Patricia Martinez	Chief Officer	Profile

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