Schlumberger Correlations

SLB Stock

USD 43.59 0.74 1.67%

The current 90-days correlation between Schlumberger NV and Baker Hughes Co is 0.85 (i.e., Very poor 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

Very weak diversification

The correlation between Schlumberger NV and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schlumberger NV 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 Schlumberger NV. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Schlumberger Stock

0.61	WFRD	Weatherford International	Pair Corr
0.99	CHX	ChampionX	Pair Corr
0.68	FTI	TechnipFMC PLC	Pair Corr
0.87	HAL	Halliburton Fiscal Year End 28th of January 2025	Pair Corr
0.82	HLX	Helix Energy Solutions	Pair Corr
0.61	NOV	NOV Inc	Pair Corr
0.75	OII	Oceaneering International	Pair Corr
0.67	OIS	Oil States International	Pair Corr
0.76	RES	RPC Inc Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Schlumberger Stock

0.46	SUBCY	Subsea 7 SA Earnings Call Next Week	Pair Corr
0.4	NESR	National Energy Services	Pair Corr
0.39	NESRW	National Energy Services	Pair Corr

Related Correlations Analysis

	BKR	NOV	WFRD	TS	HAL	CHX	FTI	DNOW	OII	WHD
BKR		-0.22	-0.36	0.94	0.01	0.28	0.78	0.62	0.57	0.84	BKR
NOV	-0.22		0.94	-0.48	0.88	0.62	0.26	0.43	0.64	0.07	NOV
WFRD	-0.36	0.94		-0.6	0.86	0.61	0.12	0.33	0.49	-0.02	WFRD
TS	0.94	-0.48	-0.6		-0.24	0.08	0.62	0.43	0.32	0.71	TS
HAL	0.01	0.88	0.86	-0.24		0.87	0.49	0.51	0.74	0.34	HAL
CHX	0.28	0.62	0.61	0.08	0.87		0.69	0.65	0.75	0.61	CHX
FTI	0.78	0.26	0.12	0.62	0.49	0.69		0.73	0.85	0.88	FTI
DNOW	0.62	0.43	0.33	0.43	0.51	0.65	0.73		0.79	0.76	DNOW
OII	0.57	0.64	0.49	0.32	0.74	0.75	0.85	0.79		0.73	OII
WHD	0.84	0.07	-0.02	0.71	0.34	0.61	0.88	0.76	0.73		WHD
	BKR	NOV	WFRD	TS	HAL	CHX	FTI	DNOW	OII	WHD

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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

TS	+ 0.94	BKR
WFRD	+ 0.94	NOV
HAL	+ 0.88	NOV
WHD	+ 0.88	FTI
CHX	+ 0.87	HAL
HAL	+ 0.86	WFRD

High negative correlations

TS	- 0.6	WFRD
TS	- 0.48	NOV
WFRD	- 0.36	BKR
HAL	- 0.24	TS
NOV	- 0.22	BKR
WHD	- 0.02	WFRD

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
BKR	1.26	0.14	0.13	0.26	1.11	(1.47)	2.82	(2.69)	10.97
NOV	1.27	(0.29)	0.00	(0.06)	0.00	0.00	2.86	(3.09)	10.65
WFRD	2.06	(0.57)	0.00	(0.11)	0.00	0.00	3.62	(4.75)	11.40
TS	1.19	0.20	0.17	0.31	0.92	(1.36)	2.45	(2.38)	9.47
HAL	1.43	(0.24)	0.00	(0.04)	0.00	0.00	3.03	(3.67)	10.02
CHX	1.46	(0.22)	(0.06)	0.02	1.87	(1.61)	2.93	(3.32)	11.10
FTI	1.54	(0.01)	0.01	0.15	2.12	(1.51)	3.30	(3.65)	9.76
DNOW	1.67	(0.05)	0.07	0.14	1.56	(2.07)	3.55	(2.75)	13.24
OII	2.06	(0.21)	(0.02)	0.06	2.51	(2.18)	4.35	(4.07)	15.31
WHD	1.91	(0.09)	0.01	0.11	2.33	(2.11)	3.55	(4.46)	16.21

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