Patterson UTI Correlations

PTEN Stock

USD 5.89 0.14 2.43%

The current 90-days correlation between Patterson UTI Energy and Helmerich and Payne is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Patterson UTI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patterson UTI Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Patterson UTI Correlation With Market

Poor diversification

The correlation between Patterson UTI Energy and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Patterson UTI Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Patterson Stock

0.8	HP	Helmerich and Payne	Pair Corr
0.91	NBR	Nabors Industries	Pair Corr
0.75	RIG	Transocean	Pair Corr
0.83	BORR	Borr Drilling	Pair Corr
0.87	BP	BP PLC ADR Sell-off Trend	Pair Corr
0.62	SD	SandRidge Energy	Pair Corr
0.9	SM	SM Energy	Pair Corr
0.79	TS	Tenaris SA ADR	Pair Corr
0.78	DMLP	Dorchester Minerals	Pair Corr
0.77	DNOW	Now Inc	Pair Corr
0.8	VNOM	Viper Energy Ut	Pair Corr
0.81	VTLE	Vital Energy	Pair Corr
0.62	EFXT	Enerflex	Pair Corr
0.66	EONR	EON Resources Symbol Change	Pair Corr

Moving against Patterson Stock

0.44

ANNAW

AleAnna, Warrant

Pair Corr

Related Correlations Analysis

	HP	NE	NBR	PDS	RIG	PTEN	SDRL	BORR	E
HP		-0.22	0.85	0.06	0.34	0.8	-0.07	0.57	-0.08	HP
NE	-0.22		0.27	0.81	0.74	0.2	0.93	0.38	0.93	NE
NBR	0.85	0.27		0.47	0.71	0.91	0.38	0.8	0.37	NBR
PDS	0.06	0.81	0.47		0.83	0.48	0.86	0.72	0.85	PDS
RIG	0.34	0.74	0.71	0.83		0.75	0.88	0.8	0.8	RIG
PTEN	0.8	0.2	0.91	0.48	0.75		0.41	0.83	0.38	PTEN
SDRL	-0.07	0.93	0.38	0.86	0.88	0.41		0.54	0.93	SDRL
BORR	0.57	0.38	0.8	0.72	0.8	0.83	0.54		0.45	BORR
E	-0.08	0.93	0.37	0.85	0.8	0.38	0.93	0.45		E
	HP	NE	NBR	PDS	RIG	PTEN	SDRL	BORR	E

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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

SDRL	+ 0.93	NE
E	+ 0.93	NE
E	+ 0.93	SDRL
PTEN	+ 0.91	NBR
SDRL	+ 0.88	RIG
SDRL	+ 0.86	PDS

High negative correlations

NE	- 0.22	HP
E	- 0.08	HP
SDRL	- 0.07	HP

Risk-Adjusted Indicators

There is a big difference between Patterson Stock performing well and Patterson UTI 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 Patterson UTI'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
HP	3.06	(0.57)	0.00	2.97	0.00	0.00	5.38	(5.59)	29.53
NE	2.74	0.24	0.04	(1.75)	4.15	(2.98)	5.42	(4.99)	26.55
NBR	4.36	(0.39)	0.00	1.20	0.00	0.00	7.86	(8.65)	34.43
PDS	2.46	0.03	0.01	0.06	3.52	(2.42)	3.96	(5.68)	23.23
RIG	3.96	(0.22)	0.00	(0.09)	0.00	0.00	8.70	(7.59)	24.95
PTEN	3.17	(0.51)	0.00	(0.17)	0.00	0.00	4.54	(7.07)	34.78
SDRL	2.89	0.06	0.02	0.08	4.24	(3.02)	7.43	(6.03)	23.57
BORR	3.96	(0.31)	0.00	(0.12)	0.00	0.00	7.19	(7.69)	30.47
E	1.39	0.07	0.03	0.14	2.25	(1.43)	2.87	(4.77)	11.79

Patterson UTI Corporate Management

Seth JD	General VP	Profile
Kenneth CPA	Executive Officer	Profile
James Drickamer	VP Relations	Profile
Michael Sabella	Vice Relations	Profile
Seth Wexler	General Counsel, Secretary	Profile
Matt Pye	Senior Affairs	Profile
Kathryn Roark	Diversity Sustainability	Profile

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