DT Midstream Correlations

DTM Stock

USD 98.71 2.63 2.74%

The current 90-days correlation between DT Midstream and Western Midstream Partners is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DT Midstream moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DT Midstream moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

DT Midstream Correlation With Market

Good diversification

The correlation between DT Midstream and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DT Midstream and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DT Midstream. 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 DTM Stock, please use our How to Invest in DT Midstream guide.

Moving together with DTM Stock

0.76	EE	Excelerate Energy	Pair Corr
0.76	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.69	TK	Teekay	Pair Corr
0.72	DLNG	Dynagas LNG Partners	Pair Corr
0.79	VNOM	Viper Energy Ut	Pair Corr
0.71	NVGS	Navigator Holdings	Pair Corr
0.65	FLNG	FLEX LNG	Pair Corr
0.85	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.67	LNG	Cheniere Energy	Pair Corr
0.8	LPG	Dorian LPG	Pair Corr
0.62	NGL	NGL Energy Partners	Pair Corr
0.92	OKE	ONEOK Inc	Pair Corr
0.84	PBT	Permian Basin Royalty	Pair Corr
0.7	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.68	TNK	Teekay Tankers	Pair Corr

Moving against DTM Stock

0.62	GEL	Genesis Energy LP	Pair Corr
0.41	DLNG-PB	Dynagas LNG Partners	Pair Corr
0.37	MPLX	MPLX LP Sell-off Trend	Pair Corr
0.36	GLP-PB	Global Partners LP	Pair Corr
0.35	GLP	Global Partners LP	Pair Corr
0.34	CQP	Cheniere Energy Partners	Pair Corr
0.65	GLOP-PC	GasLog Partners LP	Pair Corr
0.53	GLOP-PB	GasLog Partners LP	Pair Corr
0.52	GLOP-PA	GasLog Partners LP	Pair Corr
0.31	PBA	Pembina Pipeline Corp	Pair Corr

Related Correlations Analysis

	CEQP	WES	MPLX	HEP	HESM	BROG	SMLP	PAGP	DCP	TRGP
CEQP		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CEQP
WES	0.0		0.7	0.0	0.81	-0.48	0.0	0.85	0.0	0.76	WES
MPLX	0.0	0.7		0.0	0.89	-0.45	0.0	0.85	0.0	0.48	MPLX
HEP	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	HEP
HESM	0.0	0.81	0.89	0.0		-0.52	0.0	0.89	0.0	0.55	HESM
BROG	0.0	-0.48	-0.45	0.0	-0.52		0.0	-0.61	0.0	-0.43	BROG
SMLP	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SMLP
PAGP	0.0	0.85	0.85	0.0	0.89	-0.61	0.0		0.0	0.76	PAGP
DCP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	DCP
TRGP	0.0	0.76	0.48	0.0	0.55	-0.43	0.0	0.76	0.0		TRGP
	CEQP	WES	MPLX	HEP	HESM	BROG	SMLP	PAGP	DCP	TRGP

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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

HESM	+ 0.89	MPLX
PAGP	+ 0.89	HESM
PAGP	+ 0.85	WES
PAGP	+ 0.85	MPLX
HESM	+ 0.81	WES
TRGP	+ 0.76	WES

High negative correlations

PAGP	- 0.61	BROG
BROG	- 0.52	HESM
BROG	- 0.48	WES
BROG	- 0.45	MPLX
TRGP	- 0.43	BROG
TRGP	- 0.0	DCP

Risk-Adjusted Indicators

There is a big difference between DTM Stock performing well and DT Midstream 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 DT Midstream'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
CEQP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WES	1.35	0.18	0.17	(3.11)	1.42	(1.55)	2.77	(2.12)	7.33
MPLX	1.07	0.27	0.28	3.78	0.91	(1.33)	2.48	(1.70)	5.75
HEP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HESM	1.27	0.33	0.24	(1.53)	1.28	(1.28)	2.60	(2.51)	6.71
BROG	4.71	(0.12)	0.00	0.05	0.00	0.00	9.01	(12.59)	36.49
SMLP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PAGP	1.11	0.32	0.28	2.45	1.00	(1.24)	2.42	(1.85)	9.41
DCP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TRGP	1.70	0.18	0.13	(0.54)	2.04	(1.72)	3.23	(2.90)	8.33

DT Midstream Corporate Management

Richard Redmond	Executive Vice President Chief Administrative Officer	Profile
Dwayne Wilson	Independent Director	Profile
Robert Skaggs	Executive Chairman of the Board	Profile
Wright Lassiter	Lead Independent Director	Profile
Stephen Baker	Independent Director	Profile
Todd Lohrmann	Director Relations	Profile

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