Correlation Between GEOPETRO RESOURCE and Halliburton

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Can any of the company-specific risk be diversified away by investing in both GEOPETRO RESOURCE and Halliburton at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining GEOPETRO RESOURCE and Halliburton into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GEOPETRO RESOURCE and Halliburton, you can compare the effects of market volatilities on GEOPETRO RESOURCE and Halliburton 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 GEOPETRO RESOURCE with a short position of Halliburton. Check out your portfolio center. Please also check ongoing floating volatility patterns of GEOPETRO RESOURCE and Halliburton.

Diversification Opportunities for GEOPETRO RESOURCE and Halliburton

0.0
  Correlation Coefficient

Pay attention - limited upside

The 1 month correlation between GEOPETRO and Halliburton is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GEOPETRO RESOURCE and Halliburton in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Halliburton and GEOPETRO RESOURCE 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 GEOPETRO RESOURCE are associated (or correlated) with Halliburton. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Halliburton has no effect on the direction of GEOPETRO RESOURCE i.e., GEOPETRO RESOURCE and Halliburton go up and down completely randomly.

Pair Corralation between GEOPETRO RESOURCE and Halliburton

If you would invest  0.30  in GEOPETRO RESOURCE on April 1, 2022 and sell it today you would earn a total of  0.00  from holding GEOPETRO RESOURCE or generate 0.0% return on investment over 90 days.
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

GEOPETRO RESOURCE  vs.  Halliburton

 Performance (%) 
      Timeline 
GEOPETRO RESOURCE 
GEOPETRO Performance
0 of 100
Over the last 90 days GEOPETRO RESOURCE has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable basic indicators, GEOPETRO RESOURCE is not utilizing all of its potentials. The latest stock price agitation, may contribute to short-term losses for the retail investors.
Halliburton 
Halliburton Performance
0 of 100
Over the last 90 days Halliburton has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Stock's basic indicators remain relatively steady which may send shares a bit higher in July 2022. The new chaos may also be a sign of medium-term up-swing for the company stakeholders.

Structure and Payout Changes

Forward Annual Dividend Yield
0.0149
Payout Ratio
0.26
Last Split Factor
2:1
Forward Annual Dividend Rate
0.48
Dividend Date
2022-06-22
Ex Dividend Date
2022-05-31
Last Split Date
2006-07-17

Halliburton Price Channel

GEOPETRO RESOURCE and Halliburton Volatility Contrast

 Predicted Return Density 
      Returns 

Pair Trading with GEOPETRO RESOURCE and Halliburton

The main advantage of trading using opposite GEOPETRO RESOURCE and Halliburton positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GEOPETRO RESOURCE position performs unexpectedly, Halliburton can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Halliburton will offset losses from the drop in Halliburton's long position.
The idea behind GEOPETRO RESOURCE and Halliburton pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
Check out your portfolio center. Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Price Transformation module to use Price Transformation models to analyze depth of different equity instruments across global markets.

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