Woodside Energy Correlations
| WDS Stock | USD 19.24 0.02 0.10% |
The correlation of Woodside Energy is a statistical measure of how it moves in relation to other equities. 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 Woodside Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Woodside Energy Group 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.
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Woodside Energy Group. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in employment. Woodside |
The ability to find closely correlated positions to Woodside Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Woodside Energy 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 Woodside Energy - 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 Woodside Energy Group to buy it.
Moving together with Woodside Stock
| + | 0.85 | SD | SandRidge Energy | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.67 | SM | SM Energy | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.92 | VTLE | Vital Energy | Symbol Change | PairCorr | |
| + | 0.93 | APA | APA Corporation | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.84 | BRY | Berry Petroleum Corp | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.73 | BTE | Baytex Energy Corp | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.76 | CHK | Chesapeake Energy Corp | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.74 | CNX | CNX Resources Corp | Fiscal Quarter End 31st of December 2023 | PairCorr |
Moving against Woodside Stock
| - | 0.6 | DMLP | Dorchester Minerals | Fiscal Quarter End 31st of December 2023 | PairCorr |
Related Correlations Analysis
MCHX | KEY | AFSIP | BOC | EVC | AROW | ZZHGY | ||
MCHX | 0.39 | 0.14 | 0.07 | 0.3 | 0.18 | -0.37 | MCHX | |
KEY | 0.39 | 0.37 | -0.07 | 0.85 | 0.74 | -0.77 | KEY | |
AFSIP | 0.14 | 0.37 | -0.19 | 0.39 | 0.35 | -0.47 | AFSIP | |
BOC | 0.07 | -0.07 | -0.19 | -0.34 | -0.67 | 0.31 | BOC | |
EVC | 0.3 | 0.85 | 0.39 | -0.34 | 0.82 | -0.7 | EVC | |
AROW | 0.18 | 0.74 | 0.35 | -0.67 | 0.82 | -0.69 | AROW | |
ZZHGY | -0.37 | -0.77 | -0.47 | 0.31 | -0.7 | -0.69 | ZZHGY | |
MCHX | KEY | AFSIP | BOC | EVC | AROW | ZZHGY |
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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 | High negative correlations |
Risk-Adjusted Indicators
There is a big difference between Woodside Stock performing well and Woodside Energy 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 Woodside Energy'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 | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCHX | 3.57 | (0.12) | 0.00 | (0.06) | 0.00 | (0.02) | 0.00 | 6.98 | (7.95) | 27.90 | |
| KEY | 2.03 | 0.27 | 0.13 | 0.12 | 1.88 | 0.10 | (2.44) | 4.99 | (3.58) | 13.56 | |
| AFSIP | 2.28 | 0.14 | 0.03 | 1.25 | 3.11 | 0.04 | (3.05) | 5.44 | (5.55) | 21.52 | |
| BOC | 1.57 | (0.21) | 0.00 | (0.10) | 0.00 | (0.1) | 0.00 | 3.24 | (3.48) | 9.58 | |
| EVC | 2.22 | 0.27 | 0.10 | 0.13 | 2.39 | 0.10 | (2.46) | 5.52 | (4.85) | 13.67 | |
| AROW | 1.77 | 0.75 | 0.52 | 0.69 | 0.85 | 0.31 | (2.29) | 5.15 | (2.39) | 12.65 | |
| ZZHGY | 0.22 | (0.13) | 0.00 | (6.20) | 0.00 | (0.21) | 0.00 | 0.00 | 0.00 | 4.29 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Woodside Energy 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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Woodside Energy Corporate Management
Elected by the shareholders, the Woodside Energy's board of directors comprises two types of representatives: Woodside Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Woodside. The board's role is to monitor Woodside Energy's management team and ensure that shareholders' interests are well served. Woodside Energy'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, Woodside Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.
Already Invested in Woodside Energy Group?
The danger of trading Woodside Energy Group 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 Woodside Energy 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 Woodside Energy. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Woodside Energy Group 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 Woodside Energy Group is a strong investment it is important to analyze Woodside Energy's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Woodside Energy's future performance. For an informed investment choice regarding Woodside Stock, refer to the following important reports: Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Woodside Energy Group. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in employment. Note that the Woodside Energy Group information on this page should be used as a complementary analysis to other Woodside Energy'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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Complementary Tools for Woodside Stock analysis
When running Woodside Energy's price analysis, check to measure Woodside Energy'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 Woodside Energy is operating at the current time. Most of Woodside Energy's value examination focuses on studying past and present price action to predict the probability of Woodside Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Woodside Energy's price. Additionally, you may evaluate how the addition of Woodside Energy to your portfolios can decrease your overall portfolio volatility.
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Is Woodside Energy'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 Woodside Energy. If investors know Woodside 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 Woodside Energy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.37) | Dividend Share 2.24 | Earnings Share 3.73 | Revenue Per Share 9.708 | Quarterly Revenue Growth 0.274 |
The market value of Woodside Energy Group is measured differently than its book value, which is the value of Woodside that is recorded on the company's balance sheet. Investors also form their own opinion of Woodside Energy's value that differs from its market value or its book value, called intrinsic value, which is Woodside Energy'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 Woodside Energy's market value can be influenced by many factors that don't directly affect Woodside Energy'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 Woodside Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Woodside Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Woodside Energy'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.