Kinder Morgan Correlations

2KD Stock

EUR 25.41 0.52 2.09%

The current 90-days correlation between Kinder Morgan and Reliance Steel Aluminum is 0.02 (i.e., Significant diversification). The correlation of Kinder Morgan 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Kinder Morgan Correlation With Market

Very weak diversification

The correlation between Kinder Morgan and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinder Morgan and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Kinder Morgan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kinder Morgan 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 Kinder Morgan - 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 Kinder Morgan to buy it.

Moving together with Kinder Stock

0.94	EN3	Enbridge	Pair Corr
0.95	TRS	TC Energy	Pair Corr
0.95	CHQ1	Cheniere Energy	Pair Corr
0.99	WMB	The Williams Companies	Pair Corr
0.96	ONK	ONEOK Inc	Pair Corr
0.96	TAR	Targa Resources Corp	Pair Corr
0.85	5EE	MEBUKI FINANCIAL	Pair Corr
0.74	4FK	Fukuoka Financial	Pair Corr
0.65	C6TB	CHINA BANK ADR20	Pair Corr
0.88	2CDA	Controladora Vuela Compaa	Pair Corr
0.92	LIE	Sun Life Financial	Pair Corr
0.95	AF4	HANOVER INSURANCE	Pair Corr
0.62	D2V	PARKEN Sport Enterta	Pair Corr
0.95	M4I	Mastercard	Pair Corr
0.66	VAI	Vail Resorts	Pair Corr
0.69	MSF	Microsoft	Pair Corr
0.73	HXL	Hexcel	Pair Corr
0.88	RC2	RCM TECHNOLOGIES	Pair Corr
0.77	SYY	Sysco	Pair Corr
0.91	2WY	Wyndham Hotels Resorts	Pair Corr
0.95	WX1	Acadia Realty Trust	Pair Corr
0.95	NT4	Northern Trust	Pair Corr
0.65	UIPN	Unipol Gruppo Finanziario	Pair Corr
0.8	SK3	Smurfit Kappa Group	Pair Corr
0.96	PNP	PNC Financial	Pair Corr
0.95	PCG6	PG E P6	Pair Corr
0.77	0XHR	Xenia Hotels Resorts	Pair Corr
0.91	CQD	Charter Communications	Pair Corr
0.94	FFH	Fifth Third Bancorp	Pair Corr

Moving against Kinder Stock

0.89	PKX	POSCO Holdings	Pair Corr
0.84	SSU	Samsung Electronics	Pair Corr
0.76	LGLG	LG Electronics	Pair Corr

Related Correlations Analysis

	8SP	2DG	TM9	6HW	NOH1	RS6	XYTA	9K1
8SP		0.66	0.55	0.39	-0.17	-0.62	-0.15	0.52	8SP
2DG	0.66		0.58	0.44	-0.32	-0.85	-0.04	0.73	2DG
TM9	0.55	0.58		0.03	0.18	-0.45	0.12	0.78	TM9
6HW	0.39	0.44	0.03		-0.52	-0.5	-0.34	0.03	6HW
NOH1	-0.17	-0.32	0.18	-0.52		0.48	0.19	0.02	NOH1
RS6	-0.62	-0.85	-0.45	-0.5	0.48		0.03	-0.61	RS6
XYTA	-0.15	-0.04	0.12	-0.34	0.19	0.03		0.24	XYTA
9K1	0.52	0.73	0.78	0.03	0.02	-0.61	0.24		9K1
	8SP	2DG	TM9	6HW	NOH1	RS6	XYTA	9K1

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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

9K1	+ 0.78	TM9
9K1	+ 0.73	2DG
2DG	+ 0.66	8SP
TM9	+ 0.58	2DG
TM9	+ 0.55	8SP
9K1	+ 0.52	8SP

High negative correlations

RS6	- 0.85	2DG
RS6	- 0.62	8SP
9K1	- 0.61	RS6
NOH1	- 0.52	6HW
RS6	- 0.5	6HW
RS6	- 0.45	TM9

Risk-Adjusted Indicators

There is a big difference between Kinder Stock performing well and Kinder Morgan 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 Kinder Morgan'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
8SP	2.13	(0.24)	0.00	(1.51)	0.00	0.00	3.36	(4.50)	20.22
2DG	5.51	(0.23)	0.00	(0.09)	0.00	0.00	13.64	(10.00)	52.42
TM9	2.63	(0.26)	0.00	0.53	0.00	0.00	5.56	(6.43)	30.27
6HW	0.38	(0.05)	0.00	(0.23)	0.00	0.00	1.23	(1.41)	4.04
NOH1	1.84	(0.04)	0.00	(0.11)	0.00	0.00	5.58	(3.25)	13.10
RS6	1.44	0.07	0.03	0.26	1.54	(1.61)	2.94	(2.93)	15.24
XYTA	12.41	4.01	0.14	(20.56)	8.83	(55.21)	33.33	(25.00)	233.33
9K1	1.84	(0.33)	0.00	0.62	0.00	0.00	3.03	(4.66)	14.80

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kinder Morgan 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.

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