Devon Energy Correlations
| D1VN34 Stock | BRL 193.23 1.17 0.60% |
The current 90-days correlation between Devon Energy and EOG Resources is 0.18 (i.e., Average diversification). The correlation of Devon 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.
Devon Energy Correlation With Market
Weak diversification
The correlation between Devon Energy and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Devon Energy and DJI in the same portfolio, assuming nothing else is changed.
Devon |
The ability to find closely correlated positions to Devon Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Devon Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Devon Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Devon Energy to buy it.
Moving together with Devon Stock
Moving against Devon Stock
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| 0.74 | A1VY34 | A1VY34 | PairCorr |
| 0.68 | M1RO34 | Marathon Oil | PairCorr |
| 0.68 | AMZO34 | Amazon Inc | PairCorr |
| 0.62 | P2LT34 | Palantir Technologies | PairCorr |
| 0.53 | SSFO34 | salesforce inc | PairCorr |
| 0.52 | JBSS3 | JBS SA | PairCorr |
| 0.51 | A1TM34 | A1TM34 | PairCorr |
| 0.5 | HONB34 | Honeywell International | PairCorr |
| 0.48 | CTKA3 | Karsten SA | PairCorr |
| 0.48 | TSMC34 | Taiwan Semiconductor | PairCorr |
| 0.32 | MSBR34 | Morgan Stanley | PairCorr |
| 0.32 | WEGE3 | WEG SA | PairCorr |
| 0.83 | BBSE3 | BB Seguridade Partic | PairCorr |
| 0.75 | TSLA34 | Tesla Inc | PairCorr |
| 0.73 | A1LK34 | A1LK34 | PairCorr |
| 0.71 | MSFT34 | Microsoft | PairCorr |
| 0.71 | AAPL34 | Apple Inc | PairCorr |
| 0.62 | F1RA34 | F1RA34 | PairCorr |
| 0.61 | FHER3 | Fertilizantes Heringer | PairCorr |
| 0.6 | WALM34 | Walmart | PairCorr |
| 0.59 | MRFG3 | Marfrig Global Foods | PairCorr |
| 0.57 | COWC34 | Costco Wholesale | PairCorr |
| 0.57 | CGRA4 | Grazziotin SA | PairCorr |
| 0.54 | VISA34 | Visa Inc | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Devon Stock performing well and Devon 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 Devon 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| COPH34 | 1.42 | 0.00 | (0.01) | (0.01) | 2.14 | 3.56 | 12.68 | |||
| E1OG34 | 0.77 | 0.16 | 0.07 | 0.86 | 0.60 | 1.18 | 12.79 | |||
| OXYP34 | 1.22 | 0.05 | 0.02 | 0.53 | 1.69 | 2.65 | 8.39 | |||
| D1VN34 | 1.19 | (0.24) | 0.00 | (0.30) | 0.00 | 2.75 | 9.80 | |||
| H1ES34 | 0.01 | (0.01) | 0.00 | 1.31 | 0.00 | 0.00 | 0.28 | |||
| A1PA34 | 1.38 | 0.07 | 0.01 | 0.71 | 2.41 | 4.70 | 16.52 | |||
| PRIO3 | 1.51 | (0.15) | 0.00 | 0.59 | 0.00 | 2.70 | 9.24 | |||
| RECV3 | 1.76 | (0.08) | 0.00 | 0.16 | 0.00 | 4.30 | 14.28 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Devon Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Devon Energy Corporate Management
Elected by the shareholders, the Devon Energy's board of directors comprises two types of representatives: Devon Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Devon. The board's role is to monitor Devon Energy's management team and ensure that shareholders' interests are well served. Devon Energy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Devon Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Richard Muncrief | CEO Pres | Profile | |
| Tana Cashion | Ex Admin | Profile | |
| David Harris | Exec Officer | Profile | |
| Alana Tetrick | VP Treasurer | Profile | |
| David Hager | Ex Chairman | Profile | |
| Jeffrey Ritenour | Ex CFO | Profile | |
| Clay Gaspar | Ex COO | Profile |