Enterprise Products Correlations

EPD Stock

USD 33.95 0.11 0.33%

The current 90-days correlation between Enterprise Products and MPLX LP is 0.7 (i.e., Poor diversification). The correlation of Enterprise Products 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.

Enterprise Products Correlation With Market

Weak diversification

The correlation between Enterprise Products Partners and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enterprise Products Partners 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 Enterprise Products Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Enterprise Stock

0.85	AM	Antero Midstream Partners	Pair Corr
0.91	CQP	Cheniere Energy Partners	Pair Corr
0.81	DHT	DHT Holdings	Pair Corr
0.61	FRO	Frontline Downward Rally	Pair Corr
0.66	GEL	Genesis Energy LP	Pair Corr
0.78	GLP	Global Partners LP	Pair Corr
0.94	PAA	Plains All American	Pair Corr
0.64	GLOP-PB	GasLog Partners LP	Pair Corr
0.67	GLOP-PC	GasLog Partners LP	Pair Corr
0.84	WES	Western Midstream	Pair Corr
0.68	WMB	Williams Companies	Pair Corr
0.81	EP-PC	El Paso Energy	Pair Corr
0.94	HESM	Hess Midstream Partners	Pair Corr

Moving against Enterprise Stock

0.65	DLNG	Dynagas LNG Partners	Pair Corr
0.34	BPT	BP Prudhoe Bay	Pair Corr
0.32	VNOM	Viper Energy Ut	Pair Corr
0.31	PBT	Permian Basin Royalty	Pair Corr
0.53	STNG	Scorpio Tankers	Pair Corr
0.5	IMPP	Imperial Petroleum	Pair Corr
0.48	GLNG	Golar LNG Limited	Pair Corr

Related Correlations Analysis

	MPLX	KMI	MMP	OKE	ET	PAA	WMB	ENB	CEQP	TRP
MPLX		-0.1	0.0	-0.33	0.04	0.86	0.55	0.44	0.0	0.16	MPLX
KMI	-0.1		0.0	0.82	0.48	0.18	0.66	0.58	0.0	0.53	KMI
MMP	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MMP
OKE	-0.33	0.82	0.0		0.57	-0.04	0.48	0.41	0.0	0.36	OKE
ET	0.04	0.48	0.0	0.57		0.31	0.27	0.45	0.0	0.06	ET
PAA	0.86	0.18	0.0	-0.04	0.31		0.63	0.58	0.0	0.1	PAA
WMB	0.55	0.66	0.0	0.48	0.27	0.63		0.63	0.0	0.58	WMB
ENB	0.44	0.58	0.0	0.41	0.45	0.58	0.63		0.0	0.69	ENB
CEQP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CEQP
TRP	0.16	0.53	0.0	0.36	0.06	0.1	0.58	0.69	0.0		TRP
	MPLX	KMI	MMP	OKE	ET	PAA	WMB	ENB	CEQP	TRP

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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

PAA	+ 0.86	MPLX
OKE	+ 0.82	KMI
TRP	+ 0.69	ENB
WMB	+ 0.66	KMI
WMB	+ 0.63	PAA
ENB	+ 0.63	WMB

High negative correlations

OKE	- 0.33	MPLX
KMI	- 0.1	MPLX
PAA	- 0.04	OKE
TRP	- 0.0	CEQP
CEQP	- 0.0	ENB
CEQP	- 0.0	WMB

Risk-Adjusted Indicators

There is a big difference between Enterprise Stock performing well and Enterprise Products 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 Enterprise Products' 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
MPLX	1.06	0.28	0.25	0.34	0.89	(1.32)	2.48	(1.70)	5.75
KMI	1.18	0.15	0.07	0.25	1.96	(1.22)	2.79	(1.90)	12.28
MMP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OKE	1.31	0.06	0.04	0.05	1.68	(1.36)	2.98	(3.07)	7.50
ET	1.35	0.10	0.06	0.10	1.74	(1.36)	3.08	(2.76)	9.12
PAA	1.20	0.30	0.20	0.41	1.25	(1.32)	2.54	(1.92)	10.03
WMB	1.41	0.23	0.12	0.27	1.80	(1.62)	3.24	(2.05)	12.05
ENB	0.86	0.16	0.13	0.25	1.18	(0.88)	1.80	(2.09)	5.69
CEQP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TRP	0.93	0.12	0.10	0.24	1.22	(0.92)	1.81	(1.83)	6.60

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