Seadrill Correlations

SDRL Stock

USD 40.64 0.41 1.02%

The current 90-days correlation between Seadrill Limited and Nabors Industries is 0.5 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Seadrill moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Seadrill Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Seadrill Correlation With Market

Weak diversification

The correlation between Seadrill Limited and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seadrill Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Seadrill Limited. 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 Seadrill Stock

0.63	NE	Noble plc	Pair Corr
0.76	PDS	Precision Drilling	Pair Corr
0.79	RIG	Transocean Aggressive Push	Pair Corr
0.68	PTEN	Patterson UTI Energy	Pair Corr
0.62	NR	Newpark Resources	Pair Corr
0.72	VTLE	Vital Energy	Pair Corr

Moving against Seadrill Stock

0.45

DWSN

Dawson Geophysical

Pair Corr

Related Correlations Analysis

	NBR	PTEN	NE	HP
NBR		0.48	0.08	0.87	NBR
PTEN	0.48		0.6	0.27	PTEN
NE	0.08	0.6		-0.13	NE
HP	0.87	0.27	-0.13		HP
	NBR	PTEN	NE	HP

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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

HP	+ 0.87	NBR
NE	+ 0.6	PTEN
PTEN	+ 0.48	NBR
HP	+ 0.27	PTEN
NE	+ 0.08	NBR

High negative correlations

- 0.13

Risk-Adjusted Indicators

There is a big difference between Seadrill Stock performing well and Seadrill 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 Seadrill'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
NBR	3.11	(0.20)	0.00	(0.05)	0.00	0.00	6.27	(5.77)	15.91
PTEN	2.19	(0.29)	0.00	(0.05)	0.00	0.00	3.53	(4.36)	14.10
NE	1.85	(0.33)	0.00	(0.09)	0.00	0.00	3.36	(3.50)	14.34
HP	2.01	(0.05)	(0.01)	0.07	2.51	(2.06)	3.70	(4.82)	12.16

Seadrill Corporate Management

Emily Li	Head Relations	Profile
Sara Dunne	Director Communications	Profile
Benjamin Wiseman	Corporate Relations	Profile
Marcel Wieggers	Senior Operations	Profile
John CFA	Vice Relations	Profile
Samir Ali	Executive Officer	Profile

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