TechnipFMC PLC Correlations

FTI Stock

USD 50.07 0.63 1.27%

The current 90-days correlation between TechnipFMC PLC and Halliburton is 0.12 (i.e., Average diversification). The correlation of TechnipFMC PLC 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.

TechnipFMC PLC Correlation With Market

Modest diversification

The correlation between TechnipFMC PLC and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TechnipFMC PLC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TechnipFMC Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in TechnipFMC PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more detail on how to invest in TechnipFMC Stock please use our How to Invest in TechnipFMC PLC guide.

Moving together with TechnipFMC Stock

0.88	0NIS	SBM Offshore NV	Pair Corr
0.93	WFRD	Weatherford International	Pair Corr
0.87	CLB	Core Laboratories	Pair Corr
0.71	DTI	Drilling Tools Inter	Pair Corr
0.82	FET	Forum Energy Technologies	Pair Corr
0.91	NGS	Natural Gas Services	Pair Corr
0.96	NOV	NOV Inc	Pair Corr
0.63	OII	Oceaneering International	Pair Corr
0.73	OIS	Oil States International	Pair Corr
0.88	SLB	Schlumberger NV Aggressive Push	Pair Corr
0.91	WHD	Cactus Inc	Pair Corr
0.75	002108	Cangzhou Mingzhu Plastic	Pair Corr
0.86	LBRT	Liberty Oilfield Services	Pair Corr
0.76	RNGR	Ranger Energy Services	Pair Corr
0.69	USAC	USA Compression Partners	Pair Corr

Moving against TechnipFMC Stock

0.64	SRJ	SRJ Technologies	Pair Corr
0.57	GEOS	Geospace Technologies	Pair Corr
0.33	AT	Ashtead Technology	Pair Corr
0.88	STAK	STAK Ordinary Shares	Pair Corr
0.86	ASPN	Aspen Aerogels	Pair Corr
0.63	BRY	Bri Chem Corp	Pair Corr

Related Correlations Analysis

	HAL	CTRA	TS	EC	VG	YPF	PBA	WES	DVN	TPL
HAL		0.61	0.72	0.59	-0.64	0.62	-0.32	0.71	0.53	-0.22	HAL
CTRA	0.61		0.87	0.7	-0.68	0.78	0.08	0.82	0.83	-0.19	CTRA
TS	0.72	0.87		0.76	-0.67	0.88	-0.13	0.76	0.65	-0.11	TS
EC	0.59	0.7	0.76		-0.53	0.7	-0.07	0.76	0.59	-0.16	EC
VG	-0.64	-0.68	-0.67	-0.53		-0.73	0.43	-0.65	-0.56	0.49	VG
YPF	0.62	0.78	0.88	0.7	-0.73		-0.28	0.7	0.52	-0.11	YPF
PBA	-0.32	0.08	-0.13	-0.07	0.43	-0.28		-0.04	0.32	0.02	PBA
WES	0.71	0.82	0.76	0.76	-0.65	0.7	-0.04		0.81	-0.33	WES
DVN	0.53	0.83	0.65	0.59	-0.56	0.52	0.32	0.81		-0.42	DVN
TPL	-0.22	-0.19	-0.11	-0.16	0.49	-0.11	0.02	-0.33	-0.42		TPL
	HAL	CTRA	TS	EC	VG	YPF	PBA	WES	DVN	TPL

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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

YPF	+ 0.88	TS
TS	+ 0.87	CTRA
DVN	+ 0.83	CTRA
WES	+ 0.82	CTRA
DVN	+ 0.81	WES
YPF	+ 0.78	CTRA

High negative correlations

YPF	- 0.73	VG
VG	- 0.68	CTRA
VG	- 0.67	TS
WES	- 0.65	VG
VG	- 0.64	HAL
DVN	- 0.56	VG

Risk-Adjusted Indicators

There is a big difference between TechnipFMC Stock performing well and TechnipFMC PLC 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 TechnipFMC PLC'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
HAL	1.86	0.42	0.17	0.87	1.95	(2.11)	4.74	(3.41)	15.86
CTRA	1.45	0.11	0.02	0.77	1.79	(1.49)	2.88	(2.93)	9.69
TS	1.24	0.14	0.07	0.25	1.63	(1.24)	3.69	(2.40)	9.87
EC	1.53	0.22	0.07	9.03	1.71	(1.67)	3.53	(3.12)	7.69
VG	3.48	(0.99)	0.00	(0.32)	0.00	0.00	6.27	(8.00)	25.95
YPF	2.35	0.49	0.19	0.70	1.92	(2.74)	5.32	(4.29)	29.25
PBA	0.90	(0.17)	0.00	(0.71)	0.00	0.00	1.44	(2.73)	6.67
WES	0.86	0.06	0.00	0.37	1.06	(0.92)	2.02	(1.82)	4.55
DVN	1.56	0.03	0.00	0.13	1.92	(1.69)	3.68	(3.33)	9.26
TPL	1.95	(0.14)	0.00	(0.08)	0.00	0.00	5.79	(4.23)	16.39

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