Correlation Analysis Between Whiting Petroleum and Exxon

This module allows you to analyze existing cross correlation between Whiting Petroleum Corporation and Exxon Mobil Corporation. You can compare the effects of market volatilities on Whiting Petroleum and Exxon and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Whiting Petroleum with a short position of Exxon. See also your portfolio center. Please also check ongoing floating volatility patterns of Whiting Petroleum and Exxon.
Horizon     30 Days    Login   to change
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Comparative Performance

Whiting Petroleum  

Risk-Adjusted Performance

Over the last 30 days Whiting Petroleum Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest sluggish performance, the Stock's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the business stakeholders.
Exxon Mobil  

Risk-Adjusted Performance

Over the last 30 days Exxon Mobil Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Exxon is not utilizing all of its potentials. The new stock price chaos, may contribute to medium term losses for the stakeholders.

Whiting Petroleum and Exxon Volatility Contrast

 Predicted Return Density 

Whiting Petroleum Corp.  vs.  Exxon Mobil Corp.

 Performance (%) 

Pair Volatility

Considering 30-days investment horizon, Whiting Petroleum Corporation is expected to under-perform the Exxon. In addition to that, Whiting Petroleum is 6.45 times more volatile than Exxon Mobil Corporation. It trades about -0.02 of its total potential returns per unit of risk. Exxon Mobil Corporation is currently generating about 0.0 per unit of volatility. If you would invest  6,945  in Exxon Mobil Corporation on October 17, 2019 and sell it today you would lose (26.00)  from holding Exxon Mobil Corporation or give up 0.37% of portfolio value over 30 days.

Pair Corralation between Whiting Petroleum and Exxon

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for Whiting Petroleum and Exxon

Whiting Petroleum Corp. diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Whiting Petroleum Corp. and Exxon Mobil Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exxon Mobil and Whiting Petroleum is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Whiting Petroleum Corporation are associated (or correlated) with Exxon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exxon Mobil has no effect on the direction of Whiting Petroleum i.e. Whiting Petroleum and Exxon go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.