ProPetro Holding Correlations

PUMP Stock

USD 9.41 0.12 1.29%

The correlation of ProPetro Holding 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.

ProPetro Holding Correlation With Market

Average diversification

The correlation between ProPetro Holding Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProPetro Holding Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProPetro Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProPetro Holding Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with ProPetro Stock

0.69	ERHE	ERHC Energy	Pair Corr
0.69	KO	Coca Cola Aggressive Push	Pair Corr
0.82	DD	Dupont De Nemours	Pair Corr
0.64	XOM	Exxon Mobil Corp	Pair Corr
0.82	AXP	American Express	Pair Corr
0.78	CAT	Caterpillar	Pair Corr
0.68	IBM	International Business	Pair Corr

Moving against ProPetro Stock

0.72	BA	Boeing	Pair Corr
0.7	T	ATT Inc	Pair Corr
0.49	DIS	Walt Disney	Pair Corr
0.41	FSTF	First State Financial	Pair Corr

Related Correlations Analysis

	SURRY	GMELF	MNST	ROST	NNN	PKSGY	CASY	RRETY
SURRY		0.0	-0.65	-0.42	0.3	0.0	-0.7	0.13	SURRY
GMELF	0.0		0.0	0.0	0.0	-1.0	0.0	0.0	GMELF
MNST	-0.65	0.0		0.52	-0.34	0.0	0.46	-0.33	MNST
ROST	-0.42	0.0	0.52		-0.57	0.0	0.03	-0.51	ROST
NNN	0.3	0.0	-0.34	-0.57		0.0	0.2	0.29	NNN
PKSGY	0.0	-1.0	0.0	0.0	0.0		0.0	0.0	PKSGY
CASY	-0.7	0.0	0.46	0.03	0.2	0.0		-0.15	CASY
RRETY	0.13	0.0	-0.33	-0.51	0.29	0.0	-0.15		RRETY
	SURRY	GMELF	MNST	ROST	NNN	PKSGY	CASY	RRETY

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

ROST	+ 0.52	MNST
CASY	+ 0.46	MNST
NNN	+ 0.3	SURRY
RRETY	+ 0.29	NNN
CASY	+ 0.2	NNN
RRETY	+ 0.13	SURRY

High negative correlations

PKSGY	- 1.0	GMELF
CASY	- 0.7	SURRY
MNST	- 0.65	SURRY
NNN	- 0.57	ROST
RRETY	- 0.51	ROST
ROST	- 0.42	SURRY

Risk-Adjusted Indicators

There is a big difference between ProPetro Stock performing well and ProPetro Holding 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 ProPetro Holding'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
SURRY	1.42	(0.33)	0.00	0.40	0.00	0.00	0.00	(2.98)	21.55
GMELF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MNST	1.01	0.24	0.14	(1.18)	1.23	(1.08)	2.48	(2.30)	7.15
ROST	1.00	0.24	0.21	0.26	0.76	(1.09)	2.57	(1.47)	6.25
NNN	0.76	(0.03)	0.00	(0.07)	0.00	0.00	1.73	(1.31)	4.89
PKSGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CASY	1.03	0.13	0.09	0.48	1.12	(1.17)	2.45	(2.09)	6.68
RRETY	0.37	(0.21)	0.00	(0.23)	0.00	0.00	0.00	0.00	11.97

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