Schlumberger Correlations

SLBG34 Stock

BRL 113.28 6.24 5.22%

The current 90-days correlation between Schlumberger Limited and British American Tobacco is -0.01 (i.e., Good diversification). The correlation of Schlumberger 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.

Schlumberger Correlation With Market

Average diversification

The correlation between Schlumberger Limited and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schlumberger Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Schlumberger could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Schlumberger 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 Schlumberger - 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 Schlumberger Limited to buy it.

Moving together with Schlumberger Stock

0.7	HALI34	HALI34	Pair Corr
0.61	COWC34	Costco Wholesale	Pair Corr
0.61	PSSA3	Porto Seguro SA	Pair Corr
0.64	CAON34	Capital One Financial	Pair Corr
0.65	ACNB34	Accenture plc	Pair Corr
0.61	A1VB34	AvalonBay Communities	Pair Corr
0.7	MSBR34	Morgan Stanley	Pair Corr
0.66	HONB34	Honeywell International	Pair Corr

Moving against Schlumberger Stock

0.63	CARE11	Mxima Renda Corporativa	Pair Corr
0.58	HGLG11	Cshg Logistica	Pair Corr
0.49	RBED11	Aesapar Fundo de	Pair Corr
0.38	FIGS11	Fundo de Investimento	Pair Corr
0.38	HGBS11	HEDGE Brasil Shopping	Pair Corr
0.32	MBRF11	Fundo De Investimento	Pair Corr

Related Correlations Analysis

	SLBG34	BTLG11	PLPL3	C1AB34	ATMP3	B1TI34	BUSR39	BIYE39	WUNI34	COPH34
SLBG34		-0.42	-0.08	0.65	-0.49	0.47	0.67	0.81	-0.18	0.52	SLBG34
BTLG11	-0.42		0.76	-0.67	0.86	-0.81	-0.67	-0.51	-0.34	-0.14	BTLG11
PLPL3	-0.08	0.76		-0.5	0.6	-0.77	-0.37	-0.24	-0.52	0.02	PLPL3
C1AB34	0.65	-0.67	-0.5		-0.78	0.83	0.83	0.87	-0.1	0.6	C1AB34
ATMP3	-0.49	0.86	0.6	-0.78		-0.78	-0.74	-0.69	-0.07	-0.4	ATMP3
B1TI34	0.47	-0.81	-0.77	0.83	-0.78		0.8	0.66	0.28	0.29	B1TI34
BUSR39	0.67	-0.67	-0.37	0.83	-0.74	0.8		0.78	0.04	0.38	BUSR39
BIYE39	0.81	-0.51	-0.24	0.87	-0.69	0.66	0.78		-0.28	0.78	BIYE39
WUNI34	-0.18	-0.34	-0.52	-0.1	-0.07	0.28	0.04	-0.28		-0.58	WUNI34
COPH34	0.52	-0.14	0.02	0.6	-0.4	0.29	0.38	0.78	-0.58		COPH34
	SLBG34	BTLG11	PLPL3	C1AB34	ATMP3	B1TI34	BUSR39	BIYE39	WUNI34	COPH34

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

BIYE39	+ 0.87	C1AB34
ATMP3	+ 0.86	BTLG11
B1TI34	+ 0.83	C1AB34
BUSR39	+ 0.83	C1AB34
BIYE39	+ 0.81	SLBG34
BUSR39	+ 0.8	B1TI34

High negative correlations

B1TI34	- 0.81	BTLG11
B1TI34	- 0.78	ATMP3
ATMP3	- 0.78	C1AB34
B1TI34	- 0.77	PLPL3
BUSR39	- 0.74	ATMP3
BIYE39	- 0.69	ATMP3

Risk-Adjusted Indicators

There is a big difference between Schlumberger Stock performing well and Schlumberger 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 Schlumberger'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
SLBG34	1.47	0.04	0.01	0.14	2.02	(1.48)	2.99	(3.43)	11.85
BTLG11	0.82	(0.18)	0.00	21.35	0.00	0.00	1.23	(2.15)	8.00
PLPL3	1.99	(0.39)	0.00	(0.49)	0.00	0.00	3.24	(4.22)	13.45
C1AB34	1.36	0.33	0.10	0.34	1.89	(1.71)	4.00	(4.48)	13.73
ATMP3	2.60	(0.56)	0.00	20.22	0.00	0.00	4.86	(5.73)	16.22
B1TI34	1.08	0.16	0.09	(0.50)	1.24	(1.21)	2.66	(2.16)	7.55
BUSR39	1.05	0.00	(0.01)	0.03	1.60	(1.04)	2.46	(2.73)	8.84
BIYE39	0.91	0.11	0.07	(4.42)	0.93	(1.15)	2.97	(1.72)	6.60
WUNI34	0.89	0.07	0.01	(0.10)	1.29	(1.45)	1.47	(2.75)	9.55
COPH34	1.41	0.00	0.00	0.04	0.00	0.00	3.56	(3.89)	12.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in Schlumberger 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?

Run Alpha Finder Now

Alpha Finder

Use alpha and beta coefficients to find investment opportunities after accounting for the risk

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC