SandRidge Energy Correlations

SD Stock

USD 14.64 0.19 1.28%

The current 90-days correlation between SandRidge Energy and GeoPark is 0.3 (i.e., Weak diversification). The correlation of SandRidge Energy 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.

SandRidge Energy Correlation With Market

Average diversification

The correlation between SandRidge Energy 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 SandRidge Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SandRidge Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SandRidge 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 consumer price index.

For information on how to trade SandRidge Stock refer to our How to Trade SandRidge Stock guide.

Moving together with SandRidge Stock

0.81	PR	Permian Resources	Pair Corr
0.83	ERHE	ERHC Energy	Pair Corr
0.77	DEC	Diversified Energy	Pair Corr
0.7	IPO	InPlay Oil Corp	Pair Corr
0.84	AAV	Advantage Oil Gas	Pair Corr
0.78	BRK-B	Berkshire Hathaway	Pair Corr
0.78	AAPL	Apple Inc	Pair Corr
0.87	EXPE	Expedia Group	Pair Corr
0.69	ORRF	Orrstown Financial	Pair Corr
0.66	DNUT	Krispy Kreme	Pair Corr
0.79	COPL	Copley Acquisition Corp	Pair Corr
0.78	KODK	Eastman Kodak	Pair Corr
0.92	DRXGF	Drax Group plc	Pair Corr
0.78	NHIC	NewHold Investment Corp	Pair Corr
0.84	LFST	Lifestance Health	Pair Corr

Moving against SandRidge Stock

0.89	PCI	Perpetual Credit Income	Pair Corr
0.85	KOS	Kosmos Energy	Pair Corr
0.8	SOC	Sable Offshore Corp	Pair Corr
0.77	DELT	Deltic Energy PLC	Pair Corr
0.46	WTI	WT Offshore	Pair Corr
0.44	JGH	Jade Gas Holdings	Pair Corr
0.61	LTNC	Labor Smart	Pair Corr

Related Correlations Analysis

	GPRK	TBN	EGY	REPX	OBE	SGU	NOA	GFR	WTI	OIS
GPRK		-0.14	-0.56	-0.31	-0.3	0.64	-0.01	-0.05	-0.31	0.35	GPRK
TBN	-0.14		-0.13	0.01	0.26	0.18	0.38	-0.27	0.4	0.24	TBN
EGY	-0.56	-0.13		0.15	0.48	-0.72	-0.06	0.01	0.16	-0.41	EGY
REPX	-0.31	0.01	0.15		0.45	-0.07	-0.05	0.22	-0.09	0.13	REPX
OBE	-0.3	0.26	0.48	0.45		-0.2	-0.26	0.15	-0.03	-0.16	OBE
SGU	0.64	0.18	-0.72	-0.07	-0.2		0.12	-0.04	-0.12	0.45	SGU
NOA	-0.01	0.38	-0.06	-0.05	-0.26	0.12		-0.04	0.49	0.2	NOA
GFR	-0.05	-0.27	0.01	0.22	0.15	-0.04	-0.04		-0.18	-0.12	GFR
WTI	-0.31	0.4	0.16	-0.09	-0.03	-0.12	0.49	-0.18		-0.19	WTI
OIS	0.35	0.24	-0.41	0.13	-0.16	0.45	0.2	-0.12	-0.19		OIS
	GPRK	TBN	EGY	REPX	OBE	SGU	NOA	GFR	WTI	OIS

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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

SGU	+ 0.64	GPRK
WTI	+ 0.49	NOA
OBE	+ 0.48	EGY
OBE	+ 0.45	REPX
OIS	+ 0.45	SGU
WTI	+ 0.4	TBN

High negative correlations

SGU	- 0.72	EGY
EGY	- 0.56	GPRK
OIS	- 0.41	EGY
WTI	- 0.31	GPRK
REPX	- 0.31	GPRK
OBE	- 0.3	GPRK

Risk-Adjusted Indicators

There is a big difference between SandRidge Stock performing well and SandRidge Energy 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 SandRidge Energy'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
GPRK	2.88	0.27	0.06	(1.02)	2.78	(3.53)	6.47	(4.38)	32.73
TBN	2.67	0.31	0.08	(0.46)	2.44	(3.62)	6.99	(4.52)	27.87
EGY	1.80	(0.19)	0.00	(0.30)	0.00	0.00	3.75	(4.11)	10.31
REPX	1.77	(0.05)	(0.03)	0.01	2.24	(1.84)	4.22	(3.82)	9.39
OBE	1.91	(0.03)	(0.02)	0.02	2.51	(1.99)	3.58	(4.05)	13.40
SGU	0.90	0.05	(0.01)	8.21	1.16	(0.95)	1.90	(1.80)	6.34
NOA	1.69	(0.05)	0.00	0.03	2.57	(1.75)	3.38	(3.11)	14.03
GFR	2.62	0.00	0.00	0.07	0.00	0.00	5.87	(5.14)	16.48
WTI	3.26	(0.01)	0.00	0.06	3.79	(3.93)	6.70	(6.90)	32.60
OIS	2.33	0.41	0.09	(3.38)	3.13	(2.56)	5.56	(4.25)	20.50

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