EQT Correlations

EQT Stock

USD 52.88 0.85 1.58%

The correlation of EQT 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. If the correlation is 0, the equities are not correlated; they are entirely random.

EQT Correlation With Market

Modest diversification

The correlation between EQT Corp. and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EQT Corp. 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 EQT Corporation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with EQT Stock

0.97	AR	Antero Resources Corp	Pair Corr
0.78	LB	LandBridge Company	Pair Corr
0.77	SD	SandRidge Energy	Pair Corr
0.64	BRN	Barnwell Industries	Pair Corr
0.71	BSM	Black Stone Minerals	Pair Corr
0.78	CRK	Comstock Resources	Pair Corr
0.66	DVN	Devon Energy	Pair Corr
0.69	EOG	EOG Resources	Pair Corr
0.86	EXE	Expand Energy Symbol Change	Pair Corr
0.76	HES	Hess	Pair Corr

Moving against EQT Stock

0.4	EP	Empire Petroleum Corp Earnings Call This Week	Pair Corr
0.76	CKX	CKX Lands Earnings Call This Week	Pair Corr
0.7	CNX	CNX Resources Corp	Pair Corr

Related Correlations Analysis

	SWN	AR	CHK	MTDR	PXD	DVN	FANG	COP	RRC	PR
SWN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SWN
AR	0.0		0.0	0.39	0.0	0.68	0.4	0.51	0.96	0.49	AR
CHK	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CHK
MTDR	0.0	0.39	0.0		0.0	0.34	0.92	0.83	0.37	0.93	MTDR
PXD	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	PXD
DVN	0.0	0.68	0.0	0.34	0.0		0.34	0.58	0.77	0.38	DVN
FANG	0.0	0.4	0.0	0.92	0.0	0.34		0.83	0.41	0.96	FANG
COP	0.0	0.51	0.0	0.83	0.0	0.58	0.83		0.54	0.85	COP
RRC	0.0	0.96	0.0	0.37	0.0	0.77	0.41	0.54		0.49	RRC
PR	0.0	0.49	0.0	0.93	0.0	0.38	0.96	0.85	0.49		PR
	SWN	AR	CHK	MTDR	PXD	DVN	FANG	COP	RRC	PR

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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

RRC	+ 0.96	AR
PR	+ 0.96	FANG
PR	+ 0.93	MTDR
FANG	+ 0.92	MTDR
PR	+ 0.85	COP
COP	+ 0.83	MTDR

High negative correlations

PR	- 0.0	PXD
RRC	- 0.0	PXD
COP	- 0.0	PXD
FANG	- 0.0	PXD
DVN	- 0.0	PXD
PXD	- 0.0	MTDR

Risk-Adjusted Indicators

There is a big difference between EQT Stock performing well and EQT 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 EQT'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
SWN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AR	2.03	0.39	0.15	0.70	2.55	(2.26)	4.25	(3.44)	16.13
CHK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MTDR	1.71	(0.09)	0.00	(0.52)	0.00	0.00	3.60	(4.08)	13.35
PXD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DVN	1.71	0.09	0.08	(34.29)	2.07	(1.81)	2.98	(3.32)	12.69
FANG	1.43	0.02	0.00	(0.04)	0.00	0.00	2.24	(3.55)	9.40
COP	1.34	0.00	0.04	(0.05)	2.02	(1.25)	2.45	(2.59)	9.02
RRC	1.74	0.22	0.11	0.57	2.25	(1.88)	3.19	(3.61)	12.31
PR	1.69	0.02	0.00	(0.05)	0.00	0.00	3.91	(3.65)	12.33

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