TechnipFMC PLC Correlations

Stocks . USA . 
Stock . TechnipFMC PLC
FTI Stock  USD 37.54  3.95  11.76%   
The current 90-days correlation between TechnipFMC PLC and NOV Inc is 0.59 (i.e., Very weak diversification). The correlation of TechnipFMC PLC 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.

TechnipFMC PLC Correlation With Market

Weak diversification

The correlation between TechnipFMC PLC and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TechnipFMC PLC and DJI in the same portfolio, assuming nothing else is changed.
  
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Moving together with TechnipFMC Stock

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Moving against TechnipFMC Stock

  0.53FLOC Flowco HoldingsPairCorr
  0.32STAK STAK Ordinary SharesPairCorr

Related Correlations Analysis

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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   
VAL
+ 0.99
TDW
TDW
+ 0.96
OII
VAL
+ 0.95
OII
OII
+ 0.91
NOV
TDW
+ 0.87
NOV
VAL
+ 0.87
NOV
  
High negative correlations   
CLB
- 0.11
CHX
INVX
- 0.07
CHX
INVX
- 0.01
FLS

Risk-Adjusted Indicators

There is a big difference between TechnipFMC Stock performing well and TechnipFMC PLC 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 TechnipFMC PLC'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.

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