Permian Resources Correlations

PR Stock

USD 13.93 0.08 0.58%

The current 90-days correlation between Permian Resources and Range Resources Corp is 0.4 (i.e., Very weak diversification). The correlation of Permian Resources 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.

Permian Resources Correlation With Market

Average diversification

The correlation between Permian Resources and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Permian Resources and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Permian Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Permian Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

To learn how to invest in Permian Stock, please use our How to Invest in Permian Resources guide.

Moving together with Permian Stock

0.61	INDI	Indus Gas Limited	Pair Corr
0.67	VTLE	Vital Energy	Pair Corr
0.64	EPSN	Epsilon Energy	Pair Corr

Moving against Permian Stock

0.8	SEPL	Seplat Petroleum Dev	Pair Corr
0.72	EU	enCore Energy Corp	Pair Corr
0.65	WCAT	Wildcat Petroleum Plc	Pair Corr
0.38	SHE	Stonehorse Energy	Pair Corr
0.36	CDA	Canuc Resources Corp Earnings Call This Week	Pair Corr
0.76	FO	Falcon Oil Gas Earnings Call This Week	Pair Corr
0.72	EONR	EON Resources Earnings Call Tomorrow	Pair Corr
0.67	RG8	Regal Asian Investments	Pair Corr
0.54	BRN	Barnwell Industries	Pair Corr
0.5	ROK	ROK Resources	Pair Corr
0.47	VSR	Voltaic Strategic	Pair Corr
0.47	CWV	Crown Point Energy	Pair Corr
0.32	SQZ	Serica Energy PLC	Pair Corr

Related Correlations Analysis

	RRC	APA	OVV	AR	AM	HESM	VIST	MTDR	DINO	NFG
RRC		0.73	-0.3	0.8	0.43	-0.77	0.26	-0.54	0.65	-0.1	RRC
APA	0.73		0.22	0.78	0.52	-0.39	0.11	-0.14	0.67	0.1	APA
OVV	-0.3	0.22		0.2	0.44	0.68	-0.39	0.83	-0.21	0.64	OVV
AR	0.8	0.78	0.2		0.51	-0.36	0.23	-0.17	0.62	0.06	AR
AM	0.43	0.52	0.44	0.51		-0.21	-0.57	0.3	0.1	0.77	AM
HESM	-0.77	-0.39	0.68	-0.36	-0.21		-0.26	0.77	-0.57	0.3	HESM
VIST	0.26	0.11	-0.39	0.23	-0.57	-0.26		-0.65	0.51	-0.83	VIST
MTDR	-0.54	-0.14	0.83	-0.17	0.3	0.77	-0.65		-0.58	0.74	MTDR
DINO	0.65	0.67	-0.21	0.62	0.1	-0.57	0.51	-0.58		-0.43	DINO
NFG	-0.1	0.1	0.64	0.06	0.77	0.3	-0.83	0.74	-0.43		NFG
	RRC	APA	OVV	AR	AM	HESM	VIST	MTDR	DINO	NFG

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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

MTDR	+ 0.83	OVV
AR	+ 0.8	RRC
AR	+ 0.78	APA
NFG	+ 0.77	AM
MTDR	+ 0.77	HESM
NFG	+ 0.74	MTDR

High negative correlations

NFG	- 0.83	VIST
HESM	- 0.77	RRC
MTDR	- 0.65	VIST
DINO	- 0.58	MTDR
DINO	- 0.57	HESM
VIST	- 0.57	AM

Risk-Adjusted Indicators

There is a big difference between Permian Stock performing well and Permian Resources 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 Permian Resources' 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
RRC	1.57	0.19	0.08	0.29	2.00	(1.67)	3.20	(2.92)	11.28
APA	2.34	0.27	0.09	1.21	2.49	(2.71)	6.97	(3.82)	14.78
OVV	1.64	(0.01)	(0.01)	0.02	2.25	(1.61)	3.46	(3.39)	10.17
AR	1.74	0.12	0.05	0.18	2.21	(1.84)	3.48	(4.26)	12.23
AM	0.83	0.00	(0.02)	0.04	1.06	(0.88)	1.69	(1.93)	4.72
HESM	1.04	(0.33)	0.00	(0.73)	0.00	0.00	1.61	(2.89)	12.05
VIST	2.71	0.31	0.09	0.85	2.87	(3.21)	7.07	(4.16)	22.62
MTDR	2.08	(0.17)	0.00	(0.18)	0.00	0.00	3.73	(4.46)	14.25
DINO	1.52	0.20	0.11	0.36	1.53	(1.79)	3.70	(2.86)	8.66
NFG	0.95	(0.12)	0.00	2.33	0.00	0.00	1.74	(1.78)	7.66

Permian Resources Corporate Management

Charles Osborn	VP Officer	Profile
Jamie Wheat	VP Accounting	Profile
Casey McCain	Senior Operations	Profile
Will Ellison	Vice Midstream	Profile
John JD	Executive Counsel	Profile
James Walter	Director CoCEO	Profile
Ryan Gitomer	Senior Finance	Profile

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