Atmos Energy Correlations

ATO Stock

USD 150.35 0.40 0.27%

The current 90-days correlation between Atmos Energy and NewJersey Resources is 0.72 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Atmos Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Atmos Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Atmos Energy Correlation With Market

Good diversification

The correlation between Atmos Energy and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atmos Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Atmos Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in Atmos Stock, please use our How to Invest in Atmos Energy guide.

Moving together with Atmos Stock

0.93	NI	NiSource	Pair Corr
0.96	SR	Spire Inc	Pair Corr
0.9	CPK	Chesapeake Utilities	Pair Corr
0.72	NJR	NewJersey Resources	Pair Corr
0.96	NWN	Northwest Natural Gas	Pair Corr
0.97	OGS	One Gas	Pair Corr
0.73	SPH	Suburban Propane Partners	Pair Corr
0.73	SWX	Southwest Gas Holdings	Pair Corr
0.92	UGI	UGI Corporation	Pair Corr
0.77	D	Dominion Energy	Pair Corr
0.91	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.91	ES	Eversource Energy	Pair Corr
0.84	HE	Hawaiian Electric	Pair Corr
0.94	SO	Southern	Pair Corr
0.78	CMS-PB	Consumers Energy	Pair Corr
0.64	CDZIP	Cadiz Depositary Shares Earnings Call This Week	Pair Corr

Moving against Atmos Stock

0.84	NFE	New Fortress Energy	Pair Corr
0.8	OPAL	OPAL Fuels	Pair Corr
0.64	CTRI	Centuri Holdings,	Pair Corr
0.59	MNTK	Montauk Renewables	Pair Corr
0.93	FLNC	Fluence Energy Earnings Call Today	Pair Corr
0.91	VSTE	Vast Renewables	Pair Corr
0.88	NRGV	Energy Vault Holdings	Pair Corr
0.77	RNWWW	ReNew Energy Global	Pair Corr
0.65	WAVE	Eco Wave Power	Pair Corr
0.61	PCG-PE	Pacific Gas	Pair Corr
0.52	PCG-PD	Pacific Gas	Pair Corr
0.47	CMS-PC	CMS Energy	Pair Corr
0.43	PCG-PG	Pacific Gas	Pair Corr
0.42	PCG-PH	Pacific Gas	Pair Corr
0.4	ADN	Advent Technologies	Pair Corr
0.38	ELLO	Ellomay Capital Potential Growth	Pair Corr

Related Correlations Analysis

	NJR	OGS	NWN	CPK	NIMC	UGIC	UGI	SR	SPH
NJR		0.75	0.71	0.79	0.0	0.0	0.59	0.72	0.36	NJR
OGS	0.75		0.93	0.91	0.0	0.0	0.87	0.92	0.62	OGS
NWN	0.71	0.93		0.93	0.0	0.0	0.93	0.97	0.75	NWN
CPK	0.79	0.91	0.93		0.0	0.0	0.84	0.91	0.63	CPK
NIMC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NIMC
UGIC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	UGIC
UGI	0.59	0.87	0.93	0.84	0.0	0.0		0.96	0.88	UGI
SR	0.72	0.92	0.97	0.91	0.0	0.0	0.96		0.77	SR
SPH	0.36	0.62	0.75	0.63	0.0	0.0	0.88	0.77		SPH
	NJR	OGS	NWN	CPK	NIMC	UGIC	UGI	SR	SPH

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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

SR	+ 0.97	NWN
SR	+ 0.96	UGI
NWN	+ 0.93	OGS
CPK	+ 0.93	NWN
UGI	+ 0.93	NWN
SR	+ 0.92	OGS

High negative correlations

SPH	- 0.0	UGIC
SR	- 0.0	UGIC
UGI	- 0.0	UGIC
SPH	- 0.0	NIMC
SR	- 0.0	NIMC
UGI	- 0.0	NIMC

Risk-Adjusted Indicators

There is a big difference between Atmos Stock performing well and Atmos 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 Atmos 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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NJR	0.92	0.09	0.13	(0.38)	1.20	(0.92)	2.02	(2.27)	5.41
OGS	1.01	0.14	0.20	(0.89)	1.00	(1.16)	2.31	(1.70)	5.16
NWN	0.89	0.12	0.16	(8.78)	1.04	(0.96)	2.01	(1.53)	5.30
CPK	0.95	0.09	0.13	(3.32)	1.15	(1.00)	2.41	(1.81)	6.12
NIMC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UGIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UGI	1.00	0.33	0.35	(2.25)	0.77	(1.15)	2.38	(1.65)	6.74
SR	0.96	0.24	0.22	(1.22)	1.16	(1.02)	1.76	(1.62)	7.80
SPH	1.31	0.36	0.25	(5.63)	1.40	(1.48)	2.61	(2.26)	10.08

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