Precision Drilling Correlations

PD Stock

CAD 126.87 0.89 0.71%

The current 90-days correlation between Precision Drilling and Trican Well Service is 0.54 (i.e., Very weak diversification).Precision Drilling's correlation with commodity prices, currency pairs, or macro factors can surface hidden portfolio risks that are not visible in a simple equity-versus-equity analysis.

Market Correlation Profile: Precision Drilling

Significant diversification

The correlation between PD and DJI is 0.09, which Macroaxis classifies as Significant diversification for the selected horizon. The cleaner interpretation is to review correlation beside volatility, expected return, and the role each holding plays in the portfolio.

This correlation view provides context for how Precision Drilling relates to similar exposures. Some jurisdictions apply wash sale rules to substantially identical replacements; this is provided as general context.

Moving together with Precision Stock

0.85	ENB-PFV	Enbridge Pref 5	Pair Corr
0.81	ENB-PFC	Enbridge Pref 11	Pair Corr
0.86	ENB-PFU	Enbridge Pref L	Pair Corr
0.85	ENS	E Split Corp	Pair Corr
0.7	GSTM	Goldstorm Metals Corp	Pair Corr
0.82	BNP	BNP Paribas CDR	Pair Corr
0.65	TD	Toronto Dominion Bank	Pair Corr
0.92	OXY	Occidental Petroleum	Pair Corr
0.74	WMS	Western Metallica	Pair Corr
0.61	IQ	AirIQ Inc	Pair Corr

Moving against Precision Stock

0.74	WFCS	Wells Fargo CDR	Pair Corr
0.71	SAGE	Sage Potash Corp	Pair Corr
0.71	WFCS	WELLS FARGO CDR	Pair Corr
0.69	BOFA	Bank of America	Pair Corr
0.67	JPM	JPMorgan Chase	Pair Corr
0.35	ENS-PA	E Split Corp	Pair Corr

Related Correlations Analysis

	TCW	PSI	CJ	KEL	MER	SDE	ESI	TOT	MATR
TCW		0.75	0.7	0.67	0.87	0.8	0.85	0.7	0.79	TCW
PSI	0.75		0.85	0.82	0.82	0.85	0.87	0.83	0.73	PSI
CJ	0.7	0.85		0.96	0.85	0.95	0.88	0.96	0.57	CJ
KEL	0.67	0.82	0.96		0.83	0.94	0.86	0.94	0.55	KEL
MER	0.87	0.82	0.85	0.83		0.92	0.94	0.85	0.75	MER
SDE	0.8	0.85	0.95	0.94	0.92		0.95	0.97	0.66	SDE
ESI	0.85	0.87	0.88	0.86	0.94	0.95		0.88	0.73	ESI
TOT	0.7	0.83	0.96	0.94	0.85	0.97	0.88		0.57	TOT
MATR	0.79	0.73	0.57	0.55	0.75	0.66	0.73	0.57		MATR
	TCW	PSI	CJ	KEL	MER	SDE	ESI	TOT	MATR

Risk-Adjusted Indicators

Strong stock returns do not always mean Precision Drilling Company is outperforming its peers on a fundamental level. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Precision Drilling'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
TCW	1.62	0.20	0.10	2.89	2.23	-1.64	3.23	-2.95	11.22
PSI	1.20	0.08	0.06	0.14	1.63	-1.23	2.35	-3.06	7.41
CJ	1.44	0.24	0.14	1.18	1.78	-1.49	3.20	-3.11	8.08
KEL	1.83	0.29	0.15	-4.14	2.04	-1.93	3.66	-3.47	9.41
MER	1.86	0.32	0.14	-0.59	2.41	-2.16	3.24	-3.11	19.45
SDE	1.99	0.61	0.26	5.46	2.03	-2.31	4.60	-3.63	11.05
ESI	2.70	0.44	0.12	0.37	3.18	-3.10	6.08	-6.25	18.62
TOT	1.49	0.48	0.32	-30.26	1.31	-1.75	3.59	-2.39	8.44
MATR	1.46	0.26	0.18	0.33	1.30	-1.84	3.88	-2.39	7.74

Be your own money manager

Serious investors usually evaluate Precision Drilling in portfolio context because a good security can still be a weak addition if it increases concentration or unnecessary volatility. Used correctly, optimization turns position sizing and rebalancing into measurable decisions rather than guesswork.

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