Denbury Resources Correlations

Summary

DENDelisted Stock

USD 86.53 0.68 0.79%

The current 90-days correlation between Denbury Resources and Matador Resources is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Denbury Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Denbury Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Denbury Resources Correlation With Market

Good diversification

The correlation between Denbury Resources and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Denbury Resources and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Denbury Stock

0.67	ESALF	Eisai	Pair Corr
0.61	OPHLF	Ono Pharmaceutical	Pair Corr
0.63	DSKYF	Daiichi Sankyo	Pair Corr
0.74	ARE	Alexandria Real Estate	Pair Corr
0.64	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.82	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Moving against Denbury Stock

0.83	DIS	Walt Disney	Pair Corr
0.78	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.76	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.75	WMT	Walmart Aggressive Push	Pair Corr
0.74	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.62	HD	Home Depot	Pair Corr
0.6	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Related Correlations Analysis

	MTDR	MUR	CIVI	ESTE	SBOW	CHRD	MGY	PDCE	CNX	EPSN
MTDR		-0.24	-0.05	0.59	0.06	-0.2	0.87	0.53	0.85	0.29	MTDR
MUR	-0.24		0.91	-0.42	0.13	0.93	0.0	-0.81	-0.46	-0.26	MUR
CIVI	-0.05	0.91		-0.35	0.1	0.95	0.17	-0.61	-0.31	-0.26	CIVI
ESTE	0.59	-0.42	-0.35		-0.32	-0.44	0.24	0.57	0.36	-0.15	ESTE
SBOW	0.06	0.13	0.1	-0.32		0.17	0.31	-0.05	0.17	0.12	SBOW
CHRD	-0.2	0.93	0.95	-0.44	0.17		0.06	-0.68	-0.41	-0.32	CHRD
MGY	0.87	0.0	0.17	0.24	0.31	0.06		0.4	0.85	0.43	MGY
PDCE	0.53	-0.81	-0.61	0.57	-0.05	-0.68	0.4		0.68	0.28	PDCE
CNX	0.85	-0.46	-0.31	0.36	0.17	-0.41	0.85	0.68		0.62	CNX
EPSN	0.29	-0.26	-0.26	-0.15	0.12	-0.32	0.43	0.28	0.62		EPSN
	MTDR	MUR	CIVI	ESTE	SBOW	CHRD	MGY	PDCE	CNX	EPSN

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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

CHRD	+ 0.95	CIVI
CHRD	+ 0.93	MUR
CIVI	+ 0.91	MUR
MGY	+ 0.87	MTDR
CNX	+ 0.85	MTDR
CNX	+ 0.85	MGY

High negative correlations

PDCE	- 0.81	MUR
PDCE	- 0.68	CHRD
PDCE	- 0.61	CIVI
CNX	- 0.46	MUR
CHRD	- 0.44	ESTE
ESTE	- 0.42	MUR

Risk-Adjusted Indicators

There is a big difference between Denbury Stock performing well and Denbury 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 Denbury 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
MTDR	1.75	0.15	0.05	0.29	2.28	(1.79)	3.24	(3.39)	12.94
MUR	1.50	(0.21)	0.00	(0.19)	0.00	0.00	2.83	(3.67)	10.12
CIVI	1.61	(0.18)	0.00	(0.13)	0.00	0.00	3.10	(3.66)	11.20
ESTE	2.25	0.20	0.02	(0.27)	2.66	(2.41)	4.37	(4.80)	10.76
SBOW	1.58	0.00	0.07	0.00	1.86	(1.98)	3.59	(2.41)	15.61
CHRD	1.31	(0.19)	0.00	(0.24)	0.00	0.00	2.39	(3.71)	8.25
MGY	1.61	0.03	0.02	0.11	2.05	(1.57)	2.89	(3.67)	10.45
PDCE	1.42	0.24	0.06	(0.38)	1.64	(1.51)	2.84	(2.49)	9.74
CNX	1.78	0.44	0.20	0.57	1.69	(2.01)	4.48	(3.49)	10.09
EPSN	1.97	0.32	0.09	(1.24)	2.10	(2.28)	4.46	(3.65)	11.32

View Denbury Resources Related Equities

Matador Resources Murphy Oil Civitas Resources Earthstone Energy SilverBow Resources Chord Energy Corp Magnolia Oil Gas PDC Energy CNX Resources Corp Epsilon Energy Gulfport Energy Operating GeoPark SM Energy Co Range Resources Corp Callon Petroleum

Risk & Return

Correlation

Still Interested in Denbury Resources?

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