Liberty Oilfield Correlations

LBRT Stock

USD 18.44 0.04 0.22%

The current 90-days correlation between Liberty Oilfield Services and Nextier Oilfield Solutions is 0.01 (i.e., Significant diversification). The correlation of Liberty Oilfield 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.

Liberty Oilfield Correlation With Market

Weak diversification

The correlation between Liberty Oilfield Services and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Liberty Oilfield Services and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Liberty Oilfield Services. 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 Liberty Stock

0.79	WFRD	Weatherford International	Pair Corr
0.8	DTI	Drilling Tools Inter	Pair Corr
0.75	FET	Forum Energy Technologies	Pair Corr
0.64	NOV	NOV Inc Sell-off Trend	Pair Corr
0.84	XPRO	Expro Group Holdings	Pair Corr
0.71	RES	RPC Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.74	TDW	Tidewater	Pair Corr
0.75	VAL	Valaris	Pair Corr

Moving against Liberty Stock

0.54	TS	Tenaris SA ADR	Pair Corr
0.46	EFXT	Enerflex	Pair Corr
0.45	BKR	Baker Hughes Fiscal Year End 28th of January 2025	Pair Corr
0.45	KGS	Kodiak Gas Services,	Pair Corr
0.45	SND	Smart Sand	Pair Corr
0.41	FTK	Flotek Industries	Pair Corr
0.34	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.64	PFIE	Profire Ene	Pair Corr
0.62	GEOS	Geospace Technologies	Pair Corr
0.47	RNGR	Ranger Energy Services	Pair Corr
0.44	AE	Adams Resources Energy	Pair Corr
0.36	SUBCY	Subsea 7 SA	Pair Corr
0.35	TTI	Tetra Technologies	Pair Corr

Related Correlations Analysis

	NEX	SOI	RNGR	ACDC	AROC	NR	VTOL	PUMP	RES
NEX		0.45	0.91	0.44	0.85	0.25	0.36	0.19	-0.21	NEX
SOI	0.45		0.35	0.32	0.5	-0.42	-0.23	0.22	0.25	SOI
RNGR	0.91	0.35		0.54	0.91	0.36	0.53	0.28	-0.2	RNGR
ACDC	0.44	0.32	0.54		0.68	0.52	0.52	0.7	0.5	ACDC
AROC	0.85	0.5	0.91	0.68		0.32	0.5	0.55	0.12	AROC
NR	0.25	-0.42	0.36	0.52	0.32		0.82	0.51	0.2	NR
VTOL	0.36	-0.23	0.53	0.52	0.5	0.82		0.5	0.09	VTOL
PUMP	0.19	0.22	0.28	0.7	0.55	0.51	0.5		0.8	PUMP
RES	-0.21	0.25	-0.2	0.5	0.12	0.2	0.09	0.8		RES
	NEX	SOI	RNGR	ACDC	AROC	NR	VTOL	PUMP	RES

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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

RNGR	+ 0.91	NEX
AROC	+ 0.91	RNGR
AROC	+ 0.85	NEX
VTOL	+ 0.82	NR
RES	+ 0.8	PUMP
PUMP	+ 0.7	ACDC

High negative correlations

NR	- 0.42	SOI
VTOL	- 0.23	SOI
RES	- 0.21	NEX
RES	- 0.2	RNGR

Risk-Adjusted Indicators

There is a big difference between Liberty Stock performing well and Liberty Oilfield 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 Liberty Oilfield'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
NEX	2.68	0.57	0.13	(2.68)	2.99	(2.86)	6.33	(4.55)	17.50
SOI	2.52	0.64	0.18	(1.13)	2.11	(3.13)	4.44	(4.19)	43.08
RNGR	1.39	0.36	0.19	0.67	1.30	(1.56)	3.56	(2.21)	6.77
ACDC	3.56	0.33	0.09	0.32	4.01	(3.98)	7.24	(5.82)	17.89
AROC	1.66	0.16	0.13	0.21	1.58	(2.00)	3.19	(2.31)	14.49
NR	1.76	(0.22)	(0.04)	0.01	2.11	(1.91)	3.73	(3.89)	13.55
VTOL	1.55	(0.13)	(0.05)	0.00	2.17	(1.71)	2.89	(2.86)	12.05
PUMP	2.50	(0.15)	0.00	0.05	2.93	(2.70)	5.25	(4.78)	21.85
RES	2.09	(0.14)	(0.03)	0.03	2.44	(2.36)	4.55	(4.55)	14.14

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