Geospace Technologies Correlations

GEOS Stock

USD 11.37 0.08 0.70%

The current 90-days correlation between Geospace Technologies and Ranger Energy Services is 0.3 (i.e., Weak diversification). The correlation of Geospace Technologies 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.

Geospace Technologies Correlation With Market

Very weak diversification

The correlation between Geospace Technologies and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Geospace Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Geospace Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Geospace Stock

0.67	TS	Tenaris SA ADR	Pair Corr
0.69	EFXT	Enerflex	Pair Corr
0.71	FTK	Flotek Industries	Pair Corr
0.66	KGS	Kodiak Gas Services,	Pair Corr
0.69	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.73	SND	Smart Sand	Pair Corr
0.8	SUBCY	Subsea 7 SA	Pair Corr

Moving against Geospace Stock

0.74	NINE	Nine Energy Service	Pair Corr
0.74	WFRD	Weatherford International	Pair Corr
0.73	XPRO	Expro Group Holdings Sell-off Trend	Pair Corr
0.69	NOV	NOV Inc Sell-off Trend	Pair Corr
0.68	DTI	Drilling Tools Inter	Pair Corr
0.59	HAL	Halliburton Fiscal Year End 28th of January 2025	Pair Corr
0.55	OIS	Oil States International	Pair Corr
0.51	NR	Newpark Resources	Pair Corr
0.51	ENSV	Enservco	Pair Corr
0.46	CLB	Core Laboratories	Pair Corr
0.43	FET	Forum Energy Technologies	Pair Corr
0.41	DWSN	Dawson Geophysical	Pair Corr
0.4	VTOL	Bristow Group	Pair Corr
0.35	OII	Oceaneering International	Pair Corr
0.77	VAL	Valaris	Pair Corr
0.76	TDW	Tidewater	Pair Corr
0.7	DK	Delek Energy Downward Rally	Pair Corr
0.56	LBRT	Liberty Oilfield Services Fiscal Year End 22nd of January 2025	Pair Corr
0.53	BP	BP PLC ADR Downward Rally	Pair Corr
0.52	KLXE	KLX Energy Services Downward Rally	Pair Corr
0.5	DINO	HF Sinclair Corp	Pair Corr
0.34	PUMP	ProPetro Holding Corp	Pair Corr
0.31	ACDC	ProFrac Holding Corp	Pair Corr

Related Correlations Analysis

	DNOW	EFXT	VTOL	RES	RNGR
DNOW		-0.39	0.29	0.68	0.11	DNOW
EFXT	-0.39		-0.29	0.26	0.41	EFXT
VTOL	0.29	-0.29		0.09	-0.02	VTOL
RES	0.68	0.26	0.09		0.32	RES
RNGR	0.11	0.41	-0.02	0.32		RNGR
	DNOW	EFXT	VTOL	RES	RNGR

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

RES	+ 0.68	DNOW
RNGR	+ 0.41	EFXT
RNGR	+ 0.32	RES
VTOL	+ 0.29	DNOW
RES	+ 0.26	EFXT
RNGR	+ 0.11	DNOW

High negative correlations

EFXT	- 0.39	DNOW
VTOL	- 0.29	EFXT
RNGR	- 0.02	VTOL

Risk-Adjusted Indicators

There is a big difference between Geospace Stock performing well and Geospace Technologies 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 Geospace Technologies' 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
DNOW	1.62	(0.46)	0.00	(0.27)	0.00	0.00	2.55	(4.38)	7.17
EFXT	1.85	0.16	0.08	0.14	2.11	(2.01)	4.81	(4.06)	11.45
VTOL	1.79	(0.14)	0.00	(0.11)	0.00	0.00	2.81	(4.74)	19.45
RES	1.86	(0.33)	0.00	(0.29)	0.00	0.00	3.93	(4.61)	11.80
RNGR	1.71	0.14	0.07	0.16	1.98	(1.73)	2.80	(3.86)	17.87

Geospace Technologies Corporate Management

Robbin Adams	Chief Project Engineer and Executive VP	Profile
Gene Gradick	Senior Marketing	Profile
David Witt	Senior Technology	Profile
Robert Curda	CFO VP	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC