CKX Lands Correlations

CKX Stock

USD 12.04 0.30 2.43%

The current 90-days correlation between CKX Lands and Mexco Energy is -0.09 (i.e., Good diversification). The correlation of CKX Lands 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.

CKX Lands Correlation With Market

Good diversification

The correlation between CKX Lands and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CKX Lands and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CKX Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CKX Lands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

For more information on how to buy CKX Stock please use our How to Invest in CKX Lands guide.

Moving together with CKX Stock

0.69	ONL	Orion Office Reit	Pair Corr
0.65	DX	Dynex Capital	Pair Corr
0.64	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.64	MITT-PA	AG Mortgage Investment	Pair Corr
0.63	MITT-PB	AG Mortgage Investment	Pair Corr
0.73	WELL	Welltower	Pair Corr

Moving against CKX Stock

0.72	GIPRW	Generation Income	Pair Corr
0.52	OMH	Ohmyhome Limited Ordinary	Pair Corr
0.34	OZ	Belpointe PREP LLC	Pair Corr
0.31	RC	Ready Capital Corp	Pair Corr
0.56	WY	Weyerhaeuser	Pair Corr
0.33	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.8	EPRT	Essential Properties	Pair Corr
0.74	ESBA	Empire State Realty	Pair Corr
0.71	ESRT	Empire State Realty	Pair Corr
0.7	FCPT	Four Corners Property	Pair Corr

Related Correlations Analysis

	MXC	NOG	EPM	HUSA	REI	BRN	PNRG	ISRL
MXC		0.35	0.28	0.76	0.08	0.51	-0.26	0.19	MXC
NOG	0.35		-0.05	0.28	-0.3	0.53	-0.1	0.1	NOG
EPM	0.28	-0.05		0.28	0.7	0.14	-0.24	-0.07	EPM
HUSA	0.76	0.28	0.28		-0.08	0.5	-0.05	0.18	HUSA
REI	0.08	-0.3	0.7	-0.08		-0.03	-0.35	0.02	REI
BRN	0.51	0.53	0.14	0.5	-0.03		-0.27	0.36	BRN
PNRG	-0.26	-0.1	-0.24	-0.05	-0.35	-0.27		0.0	PNRG
ISRL	0.19	0.1	-0.07	0.18	0.02	0.36	0.0		ISRL
	MXC	NOG	EPM	HUSA	REI	BRN	PNRG	ISRL

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

HUSA	+ 0.76	MXC
REI	+ 0.7	EPM
BRN	+ 0.53	NOG
BRN	+ 0.51	MXC
BRN	+ 0.5	HUSA
ISRL	+ 0.36	BRN

High negative correlations

PNRG	- 0.35	REI
REI	- 0.3	NOG
PNRG	- 0.27	BRN
PNRG	- 0.26	MXC
PNRG	- 0.24	EPM
PNRG	- 0.1	NOG

Risk-Adjusted Indicators

There is a big difference between CKX Stock performing well and CKX Lands 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 CKX Lands' 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
MXC	3.82	0.59	0.13	0.92	3.65	(5.67)	7.79	(7.74)	54.80
NOG	2.24	(0.13)	(0.04)	0.00	2.98	(2.39)	4.32	(4.42)	17.56
EPM	1.52	0.21	0.04	(3.60)	2.05	(1.46)	2.90	(3.77)	7.73
HUSA	10.17	3.61	0.20	(0.21)	8.81	(12.07)	25.27	(13.54)	151.46
REI	3.00	0.52	0.10	(1.67)	3.36	(3.60)	6.82	(6.10)	21.91
BRN	3.42	0.39	0.01	(0.06)	5.58	(4.33)	7.03	(5.74)	56.04
PNRG	3.31	(0.41)	0.00	(0.10)	0.00	0.00	5.05	(8.38)	24.21
ISRL	1.00	0.02	0.00	0.07	0.00	0.00	2.64	(2.20)	11.08

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