Kodiak Gas Correlations

Stocks . USA . 
Stock . Kodiak Gas Services,
KGS Stock   31.81  0.09  0.28%   
The current 90-days correlation between Kodiak Gas Services, and Now Inc is 0.32 (i.e., Weak diversification). The correlation of Kodiak Gas 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.

Kodiak Gas Correlation With Market

Weak diversification

The correlation between Kodiak Gas Services, and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kodiak Gas Services, and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kodiak Gas Services,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Kodiak Stock

  0.85TS Tenaris SA ADRPairCorr
  0.86EFXT EnerflexPairCorr
  0.79BKR Baker Hughes Fiscal Year End 28th of January 2025 PairCorr
  0.74FTK Flotek IndustriesPairCorr
  0.88SEI Solaris Energy Infra Symbol ChangePairCorr
  0.79SUBCY Subsea 7 SAPairCorr
  0.66GEOS Geospace TechnologiesPairCorr

Moving against Kodiak Stock

  0.61XPRO Expro Group HoldingsPairCorr
  0.59NR Newpark ResourcesPairCorr
  0.55WFRD Weatherford InternationalPairCorr
  0.51NCSM NCS Multistage HoldingsPairCorr
  0.48DTI Drilling Tools InterPairCorr
  0.48NOV NOV IncPairCorr
  0.45FET Forum Energy TechnologiesPairCorr
  0.43VTOL Bristow GroupPairCorr
  0.36OIS Oil States International Upward RallyPairCorr
  0.35NINE Nine Energy ServicePairCorr
  0.68TDW TidewaterPairCorr
  0.62KLXE KLX Energy ServicesPairCorr
  0.55DK Delek EnergyPairCorr
  0.53VAL ValarisPairCorr
  0.47DINO HF Sinclair CorpPairCorr
  0.47BP BP PLC ADRPairCorr

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   
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 Kodiak Stock performing well and Kodiak Gas 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 Kodiak Gas' 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.

Kodiak Gas Corporate Management

Pedro BuhigasExecutive OfficerProfile
Travis MarrsExecutive EngineeringProfile
Jason StewartExecutive TreasurerProfile
Cory RoclawskiExecutive OfficerProfile
Ewan HamiltonExecutive OfficerProfile
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