PermRock Royalty Correlations

PRT Stock

USD 3.45 0.05 1.47%

The current 90-days correlation between PermRock Royalty Trust and Permianville Royalty Trust is 0.11 (i.e., Average diversification). The correlation of PermRock Royalty 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.

PermRock Royalty Correlation With Market

Average diversification

The correlation between PermRock Royalty Trust and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PermRock Royalty Trust and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with PermRock Stock

0.68	SM	SM Energy	Pair Corr
0.66	FANG	Diamondback Energy	Pair Corr
0.62	BTE	Baytex Energy Corp	Pair Corr
0.66	CNQ	Canadian Natural Res	Pair Corr
0.7	DVN	Devon Energy	Pair Corr
0.65	KOS	Kosmos Energy	Pair Corr

Moving against PermRock Stock

0.42	EP	Empire Petroleum Corp	Pair Corr
0.4	VIST	Vista Oil Gas	Pair Corr
0.38	CRK	Comstock Resources	Pair Corr
0.36	BKV	BKV Corporation	Pair Corr
0.63	MRO	Marathon Oil	Pair Corr

Related Correlations Analysis

	PVL	MTR	SBR	SJT	PRT
PVL		-0.26	-0.38	-0.14	0.64	PVL
MTR	-0.26		0.75	0.57	0.01	MTR
SBR	-0.38	0.75		0.55	-0.27	SBR
SJT	-0.14	0.57	0.55		0.13	SJT
PRT	0.64	0.01	-0.27	0.13		PRT
	PVL	MTR	SBR	SJT	PRT

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

SBR	+ 0.75	MTR
PRT	+ 0.64	PVL
SJT	+ 0.57	MTR
SJT	+ 0.55	SBR
PRT	+ 0.13	SJT
PRT	+ 0.01	MTR

High negative correlations

SBR	- 0.38	PVL
PRT	- 0.27	SBR
MTR	- 0.26	PVL
SJT	- 0.14	PVL

Risk-Adjusted Indicators

There is a big difference between PermRock Stock performing well and PermRock Royalty 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 PermRock Royalty'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
PVL	1.45	(0.26)	0.00	(0.92)	0.00	0.00	3.23	(4.00)	8.89
MTR	2.05	0.16	0.07	0.36	1.95	(3.00)	5.28	(3.87)	22.38
SBR	0.76	0.05	0.03	0.12	1.11	(0.79)	1.60	(1.38)	8.95
SJT	2.32	0.13	0.05	0.13	2.28	(3.11)	5.57	(4.19)	16.89
PRT	1.38	(0.20)	0.00	(0.79)	0.00	0.00	2.36	(3.40)	8.19

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