ProFrac Holding Correlations
| ACDC Stock | USD 8.25 0.21 2.61% |
The correlation of ProFrac Holding 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProFrac Holding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProFrac Holding Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between ProFrac Holding Corp and NYA is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProFrac Holding Corp and NYA in the same portfolio, assuming nothing else is changed.
ProFrac |
The ability to find closely correlated positions to ProFrac Holding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProFrac Holding when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ProFrac Holding - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ProFrac Holding Corp to buy it.
Moving together with ProFrac Stock
| 0.78 | NR | Newpark Resources Financial Report 7th of May 2024 | PairCorr |
| 0.76 | TS | Tenaris SA ADR Earnings Call Today | PairCorr |
| 0.76 | DNOW | Now Inc Financial Report 2nd of May 2024 | PairCorr |
| 0.77 | EFXT | Enerflex Earnings Call This Week | PairCorr |
| 0.78 | WFRD | Weatherford International Buyout Trend | PairCorr |
| 0.75 | BKR | Baker Hughes Financial Report 17th of July 2024 | PairCorr |
| 0.77 | CHX | ChampionX | PairCorr |
| 0.75 | CLB | Core Laboratories | PairCorr |
| 0.81 | FTI | TechnipFMC PLC Earnings Call Today | PairCorr |
| 0.63 | FTK | Flotek Industries | PairCorr |
| 0.8 | HAL | Halliburton Financial Report 17th of July 2024 | PairCorr |
| 0.69 | HLX | Helix Energy Solutions | PairCorr |
| 0.78 | KGS | Kodiak Gas Services | PairCorr |
Related Correlations Analysis
| 0.76 | 0.59 | -0.22 | 0.83 | DNOW | ||
| 0.76 | 0.8 | -0.29 | 0.89 | BKR | ||
| 0.59 | 0.8 | 0.02 | 0.71 | OII | ||
| -0.22 | -0.29 | 0.02 | -0.19 | VTOL | ||
| 0.83 | 0.89 | 0.71 | -0.19 | RNGR | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between ProFrac Stock performing well and ProFrac Holding 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 ProFrac Holding'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DNOW | 1.83 | 0.75 | 0.39 | (1.85) | 1.23 | 3.32 | 22.13 | |||
| BKR | 1.07 | 0.13 | 0.03 | (1.22) | 1.39 | 2.29 | 6.48 | |||
| OII | 1.61 | 0.25 | 0.07 | (0.65) | 1.82 | 2.96 | 9.77 | |||
| VTOL | 1.28 | 0.04 | (0.03) | (0.16) | 1.67 | 2.56 | 8.82 | |||
| RNGR | 1.63 | 0.20 | 0.05 | (0.86) | 1.88 | 3.06 | 13.34 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ProFrac Holding without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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ProFrac Holding Corporate Management
Elected by the shareholders, the ProFrac Holding's board of directors comprises two types of representatives: ProFrac Holding inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ProFrac. The board's role is to monitor ProFrac Holding's management team and ensure that shareholders' interests are well served. ProFrac Holding's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ProFrac Holding's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Ladd Wilks | Chief Officer | Profile | |
| Johnathan Wilks | Chief Officer | Profile | |
| Jeremy Folmar | VP Sales | Profile | |
| Lance Turner | Chief Officer | Profile | |
| Robert Willette | Chief Officer | Profile | |
| Steven Scrogham | Chief Officer | Profile |
Already Invested in ProFrac Holding Corp?
The danger of trading ProFrac Holding Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of ProFrac Holding is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than ProFrac Holding. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile ProFrac Holding Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether ProFrac Holding Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ProFrac Holding's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Profrac Holding Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Profrac Holding Corp Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ProFrac Holding Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. Note that the ProFrac Holding Corp information on this page should be used as a complementary analysis to other ProFrac Holding's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
Complementary Tools for ProFrac Stock analysis
When running ProFrac Holding's price analysis, check to measure ProFrac Holding's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ProFrac Holding is operating at the current time. Most of ProFrac Holding's value examination focuses on studying past and present price action to predict the probability of ProFrac Holding's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ProFrac Holding's price. Additionally, you may evaluate how the addition of ProFrac Holding to your portfolios can decrease your overall portfolio volatility.
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Is ProFrac Holding's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of ProFrac Holding. If investors know ProFrac will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about ProFrac Holding listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.82) | Revenue Per Share 20.092 | Quarterly Revenue Growth (0.38) | Return On Assets 0.0453 | Return On Equity (0.04) |
The market value of ProFrac Holding Corp is measured differently than its book value, which is the value of ProFrac that is recorded on the company's balance sheet. Investors also form their own opinion of ProFrac Holding's value that differs from its market value or its book value, called intrinsic value, which is ProFrac Holding's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ProFrac Holding's market value can be influenced by many factors that don't directly affect ProFrac Holding's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ProFrac Holding's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProFrac Holding is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProFrac Holding's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.