Cross Timbers Correlations

CRT Stock

USD 10.94 0.12 1.08%

The current 90-days correlation between Cross Timbers Royalty and North European Oil is 0.32 (i.e., Weak diversification). The correlation of Cross Timbers 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.

Cross Timbers Correlation With Market

Modest diversification

The correlation between Cross Timbers Royalty and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cross Timbers Royalty and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cross Timbers Royalty. 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 Cross Stock

0.85	EPSN	Epsilon Energy	Pair Corr
0.72	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.66	EXE	Expand Energy Symbol Change	Pair Corr
0.66	HES	Hess	Pair Corr
0.68	KRP	Kimbell Royalty Partners	Pair Corr
0.61	MGY	Magnolia Oil Gas	Pair Corr

Moving against Cross Stock

0.38	BRN	Barnwell Industries	Pair Corr
0.38	BRY	Berry Petroleum Corp	Pair Corr
0.41	REI	Ring Energy	Pair Corr
0.38	TBN	Tamboran Resources	Pair Corr
0.31	MUR	Murphy Oil Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	SBR	MTR	SJT	PBT	NRT
SBR		0.69	0.4	0.59	-0.36	SBR
MTR	0.69		0.27	0.56	-0.38	MTR
SJT	0.4	0.27		0.55	-0.47	SJT
PBT	0.59	0.56	0.55		-0.57	PBT
NRT	-0.36	-0.38	-0.47	-0.57		NRT
	SBR	MTR	SJT	PBT	NRT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MTR	+ 0.69	SBR
PBT	+ 0.59	SBR
PBT	+ 0.56	MTR
PBT	+ 0.55	SJT
SJT	+ 0.4	SBR
SJT	+ 0.27	MTR

High negative correlations

NRT	- 0.57	PBT
NRT	- 0.47	SJT
NRT	- 0.38	MTR
NRT	- 0.36	SBR

Risk-Adjusted Indicators

There is a big difference between Cross Stock performing well and Cross Timbers 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 Cross Timbers' 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
SBR	0.75	0.00	(0.08)	0.13	0.81	(0.82)	1.62	(1.38)	5.27
MTR	1.95	0.23	0.07	0.89	1.65	(2.75)	3.87	(3.10)	18.06
SJT	2.22	0.36	0.17	0.57	1.70	(3.09)	5.88	(2.75)	10.70
PBT	1.80	0.19	0.07	0.31	2.46	(1.93)	4.64	(4.79)	13.86
NRT	2.07	(0.60)	0.00	(0.53)	0.00	0.00	4.18	(4.33)	20.43

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC