Viper Energy Correlations

VNOM Stock

USD 52.09 1.64 3.25%

The current 90-days correlation between Viper Energy Ut and Teekay Tankers is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Viper Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Viper Energy Ut moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Viper Energy Correlation With Market

Modest diversification

The correlation between Viper Energy Ut and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Viper Energy Ut and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Viper Energy Ut. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Viper Stock

0.78	DTM	DT Midstream	Pair Corr
0.79	ENB	Enbridge	Pair Corr
0.62	GLP	Global Partners LP	Pair Corr
0.77	KMI	Kinder Morgan Earnings Call This Week	Pair Corr
0.83	LNG	Cheniere Energy	Pair Corr
0.78	OKE	ONEOK Inc	Pair Corr
0.72	PBA	Pembina Pipeline Corp	Pair Corr
0.83	TRP	TC Energy Corp	Pair Corr
0.81	WMB	Williams Companies	Pair Corr
0.62	EP-PC	El Paso Energy	Pair Corr

Moving against Viper Stock

0.6	BPT	BP Prudhoe Bay	Pair Corr
0.54	PXSAW	Pyxis Tankers	Pair Corr
0.5	CQP	Cheniere Energy Partners	Pair Corr
0.47	LPG	Dorian LPG	Pair Corr
0.45	BROGW	Brooge Energy Limited	Pair Corr
0.41	GEL	Genesis Energy LP	Pair Corr
0.46	WES	Western Midstream	Pair Corr
0.45	TNK	Teekay Tankers	Pair Corr
0.42	PAA	Plains All American	Pair Corr
0.38	INSW	International Seaways	Pair Corr

Related Correlations Analysis

	TNK	INSW	FRO	DHT	STNG	TRMD	TK
TNK		0.96	0.53	0.58	0.81	0.34	0.37	TNK
INSW	0.96		0.51	0.61	0.69	0.28	0.54	INSW
FRO	0.53	0.51		0.82	0.46	0.19	0.42	FRO
DHT	0.58	0.61	0.82		0.33	-0.06	0.66	DHT
STNG	0.81	0.69	0.46	0.33		0.48	-0.09	STNG
TRMD	0.34	0.28	0.19	-0.06	0.48		-0.29	TRMD
TK	0.37	0.54	0.42	0.66	-0.09	-0.29		TK
	TNK	INSW	FRO	DHT	STNG	TRMD	TK

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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

INSW	+ 0.96	TNK
DHT	+ 0.82	FRO
STNG	+ 0.81	TNK
STNG	+ 0.69	INSW
TK	+ 0.66	DHT
DHT	+ 0.61	INSW

High negative correlations

TK	- 0.29	TRMD
TK	- 0.09	STNG
TRMD	- 0.06	DHT

Risk-Adjusted Indicators

There is a big difference between Viper Stock performing well and Viper 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 Viper 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
TNK	1.62	(0.23)	0.00	(0.09)	0.00	0.00	3.50	(3.48)	10.32
INSW	1.50	(0.18)	0.00	(0.09)	0.00	0.00	2.77	(3.05)	9.22
FRO	1.95	0.03	0.01	0.12	2.54	(1.87)	3.80	(4.68)	13.71
DHT	1.57	0.10	0.04	0.22	1.90	(1.63)	4.04	(3.69)	11.53
STNG	1.37	(0.21)	0.00	(0.17)	0.00	0.00	2.81	(3.09)	8.28
TRMD	1.64	(0.29)	0.00	(0.13)	0.00	0.00	2.97	(3.84)	11.13
TK	1.58	0.05	0.05	0.12	2.06	(1.69)	3.65	(3.37)	10.98

Viper Energy Corporate Management

Matt Zmigrosky	General VP	Profile
Thomas Hawkins	Ex LLC	Profile
Adam Lawlis	IR Contact Officer	Profile
Al Barkmann	Executive LLC	Profile

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