Range Resources Correlations

RRC Stock

USD 33.18 0.04 0.12%

The current 90-days correlation between Range Resources Corp and Permianville Royalty Trust is 0.41 (i.e., Very weak diversification). The correlation of Range 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.

Range Resources Correlation With Market

Weak diversification

The correlation between Range Resources Corp and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Range Resources Corp 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 Range Resources Corp. 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 Range Stock

0.96	AR	Antero Resources Corp	Pair Corr
0.75	EP	Empire Petroleum Corp Upward Rally	Pair Corr
0.84	PR	Permian Resources	Pair Corr
0.75	DMLP	Dorchester Minerals	Pair Corr
0.7	VIST	Vista Oil Gas	Pair Corr
0.84	VTLE	Vital Energy	Pair Corr
0.77	BKV	BKV Corporation	Pair Corr
0.81	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.83	CRC	California Resources Corp	Pair Corr
0.92	CRK	Comstock Resources	Pair Corr
0.91	DEC	Diversified Energy	Pair Corr
0.68	EPM	Evolution Petroleum	Pair Corr
0.96	EQT	EQT Corporation	Pair Corr
0.91	EXE	Expand Energy Symbol Change	Pair Corr
0.64	HES	Hess	Pair Corr

Moving against Range Stock

0.83	BRY	Berry Petroleum Corp	Pair Corr
0.72	BRN	Barnwell Industries	Pair Corr
0.63	APA	APA Corporation	Pair Corr
0.59	EGY	Vaalco Energy	Pair Corr
0.58	EONR	EON Resources Symbol Change	Pair Corr
0.53	DVN	Devon Energy	Pair Corr
0.47	CNQ	Canadian Natural Res	Pair Corr
0.42	BTE	Baytex Energy Corp	Pair Corr
0.33	FANG	Diamondback Energy	Pair Corr
0.65	PED	PEDEVCO Corp	Pair Corr
0.64	TBN	Tamboran Resources	Pair Corr
0.44	KOS	Kosmos Energy	Pair Corr
0.44	MXC	Mexco Energy	Pair Corr
0.42	OXY	Occidental Petroleum	Pair Corr
0.37	OBE	Obsidian Energy	Pair Corr
0.36	GFR	Greenfire Resources	Pair Corr
0.35	REI	Ring Energy	Pair Corr
0.32	MUR	Murphy Oil Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	PVL	CRT	MTR	SBR	SJT	PRT
PVL		0.25	-0.26	-0.38	-0.14	0.64	PVL
CRT	0.25		0.23	0.0	0.44	0.61	CRT
MTR	-0.26	0.23		0.75	0.57	0.01	MTR
SBR	-0.38	0.0	0.75		0.55	-0.27	SBR
SJT	-0.14	0.44	0.57	0.55		0.13	SJT
PRT	0.64	0.61	0.01	-0.27	0.13		PRT
	PVL	CRT	MTR	SBR	SJT	PRT

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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

SBR	+ 0.75	MTR
PRT	+ 0.64	PVL
PRT	+ 0.61	CRT
SJT	+ 0.57	MTR
SJT	+ 0.55	SBR
SJT	+ 0.44	CRT

High negative correlations

SBR	- 0.38	PVL
PRT	- 0.27	SBR
MTR	- 0.26	PVL
SJT	- 0.14	PVL
SBR	- 0.0	CRT

Risk-Adjusted Indicators

There is a big difference between Range Stock performing well and Range 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 Range 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
PVL	1.45	(0.26)	0.00	(0.92)	0.00	0.00	3.23	(4.00)	8.89
CRT	1.84	0.09	0.04	0.11	1.81	(2.36)	4.41	(3.20)	14.03
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

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