Energy Transfer Correlations
| ET Stock | USD 18.60 0.25 1.33% |
The current 90-days correlation between Energy Transfer LP and Kinder Morgan is 0.75 (i.e., Poor diversification). The correlation of Energy Transfer 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.
Energy Transfer Correlation With Market
Weak diversification
The correlation between Energy Transfer LP 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 Energy Transfer LP and DJI in the same portfolio, assuming nothing else is changed.
Energy |
Moving together with Energy Stock
| 0.67 | TK | Teekay | PairCorr |
| 0.8 | FLNG | FLEX LNG | PairCorr |
| 0.75 | DTM | DT Midstream | PairCorr |
| 0.66 | NGL | NGL Energy Partners | PairCorr |
| 0.61 | SMC | Summit Midstream Symbol Change | PairCorr |
| 0.62 | TEN | Tsakos Energy Navigation Symbol Change | PairCorr |
| 0.61 | TNK | Teekay Tankers | PairCorr |
| 0.69 | INSW | International Seaways | PairCorr |
Moving against Energy Stock
| 0.38 | GEL | Genesis Energy LP | PairCorr |
| 0.39 | PBA | Pembina Pipeline Corp | PairCorr |
| 0.36 | GLOP-PA | GasLog Partners LP | PairCorr |
| 0.34 | GLOP-PC | GasLog Partners LP | PairCorr |
| 0.32 | GLOP-PB | GasLog Partners LP | PairCorr |
| 0.41 | SEAL-PB | Seapeak LLC | PairCorr |
| 0.37 | MMLP | Martin Midstream Partners | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Energy Stock performing well and Energy Transfer 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 Energy Transfer'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MMP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| KMI | 1.19 | 0.11 | 0.07 | 0.19 | 2.07 | 2.62 | 12.28 | |||
| MPLX | 1.12 | 0.22 | 0.19 | 0.25 | 1.11 | 2.48 | 5.75 | |||
| ENB | 0.91 | 0.13 | 0.12 | 0.16 | 1.24 | 1.80 | 5.69 | |||
| EPD | 0.85 | 0.13 | 0.16 | 0.21 | 0.92 | 1.80 | 5.35 | |||
| PAA | 1.24 | 0.24 | 0.17 | 0.31 | 1.43 | 2.54 | 10.03 | |||
| CEQP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| WMB | 1.41 | 0.20 | 0.11 | 0.24 | 1.88 | 3.24 | 12.05 | |||
| OKE | 1.31 | (0.01) | 0.00 | (0.08) | 0.00 | 2.48 | 7.50 |