Nabors Energy Correlations

NETDW Stock

0.17 0.01 6.25%

The current 90-days correlation between Nabors Energy Transition and Ecolab Inc is 0.01 (i.e., Significant diversification). The correlation of Nabors 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Nabors Energy Correlation With Market

Significant diversification

The correlation between Nabors Energy Transition and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nabors Energy Transition 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 Nabors Energy Transition. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Nabors Stock

0.65	V	Visa Class A	Pair Corr
0.69	MA	Mastercard	Pair Corr
0.63	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.7	ENVA	Enova International	Pair Corr
0.66	FDUS	Fidus Investment Corp	Pair Corr
0.61	FINV	FinVolution Group	Pair Corr
0.69	AGM	Federal Agricultural	Pair Corr
0.64	AMP	Ameriprise Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.75	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.72	COF	Capital One Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.72	DFS	Discover Financial Fiscal Year End 15th of January 2025	Pair Corr
0.78	FRHC	Freedom Holding Corp	Pair Corr
0.73	SLM	SLM Corp Normal Trading	Pair Corr
0.75	SYF	Synchrony Financial Fiscal Year End 28th of January 2025	Pair Corr
0.64	IPXXU	Inflection Point Acq	Pair Corr
0.78	IREN	Iris Energy	Pair Corr
0.61	LRFC	Logan Ridge Finance	Pair Corr
0.72	MFIN	Medallion Financial Corp Normal Trading	Pair Corr
0.73	OPRT	Oportun Financial Corp	Pair Corr
0.75	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.73	ALLY	Ally Financial Sell-off Trend	Pair Corr
0.71	APAM	Artisan Partners Asset Fiscal Year End 4th of February 2025	Pair Corr

Moving against Nabors Stock

0.59	WU	Western Union	Pair Corr
0.54	FCFS	FirstCash	Pair Corr
0.36	PT	Pintec Technology	Pair Corr
0.63	ORGN	Origin Materials	Pair Corr
0.58	PFLT	PennantPark Floating Rate	Pair Corr
0.46	MCVT	Mill City Ventures	Pair Corr
0.45	GROW	US Global Investors	Pair Corr

Related Correlations Analysis

	ECL	RIVN	PCAR	HWKN	MPX	APD	LI
ECL		-0.17	-0.45	0.03	-0.37	-0.07	0.42	ECL
RIVN	-0.17		0.1	0.31	0.16	-0.25	-0.54	RIVN
PCAR	-0.45	0.1		0.52	0.69	0.73	-0.27	PCAR
HWKN	0.03	0.31	0.52		0.55	0.45	-0.2	HWKN
MPX	-0.37	0.16	0.69	0.55		0.42	-0.48	MPX
APD	-0.07	-0.25	0.73	0.45	0.42		-0.01	APD
LI	0.42	-0.54	-0.27	-0.2	-0.48	-0.01		LI
	ECL	RIVN	PCAR	HWKN	MPX	APD	LI

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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

APD	+ 0.73	PCAR
MPX	+ 0.69	PCAR
MPX	+ 0.55	HWKN
HWKN	+ 0.52	PCAR
APD	+ 0.45	HWKN
LI	+ 0.42	ECL

High negative correlations

LI	- 0.54	RIVN
LI	- 0.48	MPX
PCAR	- 0.45	ECL
MPX	- 0.37	ECL
LI	- 0.27	PCAR
APD	- 0.25	RIVN

Risk-Adjusted Indicators

There is a big difference between Nabors Stock performing well and Nabors 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 Nabors 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
ECL	0.70	(0.05)	0.00	(0.04)	0.00	0.00	1.36	(1.05)	4.42
RIVN	3.13	0.26	0.05	0.83	4.12	(3.32)	6.75	(6.95)	28.00
PCAR	1.25	0.14	0.13	0.16	1.27	(1.49)	3.32	(2.43)	10.18
HWKN	1.69	(0.02)	0.02	0.07	2.52	(1.61)	3.39	(3.24)	13.83
MPX	1.13	(0.05)	(0.01)	0.04	1.40	(1.22)	2.41	(2.20)	8.35
APD	0.91	0.11	0.05	0.78	0.82	(0.96)	1.67	(1.52)	11.21
LI	3.24	0.28	0.05	4.47	3.95	(3.63)	7.97	(7.07)	25.86

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