Equitrans Midstream Correlations

Summary

ETRNDelisted Stock

USD 12.42 0.06 0.49%

The current 90-days correlation between Equitrans Midstream Corp and Crestwood Equity Partners is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Equitrans Midstream moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Equitrans Midstream Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Equitrans Midstream Correlation With Market

Very good diversification

The correlation between Equitrans Midstream Corp and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equitrans Midstream Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Equitrans Stock

0.7

MCD

McDonalds Fiscal Year End 3rd of February 2025

Pair Corr

Moving against Equitrans Stock

0.41	BAC	Bank of America Aggressive Push	Pair Corr
0.39	DIS	Walt Disney Sell-off Trend	Pair Corr
0.35	TPDDF	Talon Energy	Pair Corr
0.31	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	CEQP	MPLX	PAA	HESM	PAGP	DCP	TRGP	WES	HEP	ENLC
CEQP		0.76	0.1	0.18	0.09	0.79	0.83	0.12	0.95	0.76	CEQP
MPLX	0.76		0.58	0.54	0.55	0.78	0.91	0.38	0.77	0.92	MPLX
PAA	0.1	0.58		0.82	0.98	0.17	0.36	0.65	0.12	0.41	PAA
HESM	0.18	0.54	0.82		0.85	0.06	0.37	0.64	0.17	0.37	HESM
PAGP	0.09	0.55	0.98	0.85		0.11	0.32	0.64	0.09	0.35	PAGP
DCP	0.79	0.78	0.17	0.06	0.11		0.83	0.23	0.83	0.81	DCP
TRGP	0.83	0.91	0.36	0.37	0.32	0.83		0.17	0.87	0.94	TRGP
WES	0.12	0.38	0.65	0.64	0.64	0.23	0.17		0.09	0.28	WES
HEP	0.95	0.77	0.12	0.17	0.09	0.83	0.87	0.09		0.8	HEP
ENLC	0.76	0.92	0.41	0.37	0.35	0.81	0.94	0.28	0.8		ENLC
	CEQP	MPLX	PAA	HESM	PAGP	DCP	TRGP	WES	HEP	ENLC

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Risk-Adjusted Indicators

There is a big difference between Equitrans Stock performing well and Equitrans 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 Equitrans 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	1.40	0.28	0.12	2.79	1.19	(1.74)	3.48	(2.49)	11.57
MPLX	0.73	0.28	0.33	0.82	0.00	(0.90)	2.24	(0.83)	3.38
PAA	1.02	0.07	0.01	0.24	1.23	(1.12)	2.38	(2.06)	6.78
HESM	0.87	0.05	(0.03)	0.25	1.00	(0.98)	2.08	(1.75)	5.41
PAGP	0.98	0.07	0.01	0.28	1.19	(1.05)	2.51	(1.97)	5.97
DCP	0.08	0.01	(0.97)	(0.18)	0.00	(0.11)	0.22	(0.15)	0.53
TRGP	1.25	0.47	0.21	1.04	1.28	(1.40)	2.39	(2.03)	7.97
WES	1.13	0.13	0.02	0.68	1.29	(1.20)	2.48	(2.16)	5.82
HEP	1.05	0.19	0.07	0.90	1.08	(1.11)	2.21	(1.97)	4.89
ENLC	0.84	0.26	0.23	0.75	0.38	(1.09)	1.71	(1.06)	11.30

Equitrans Midstream Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Equitrans Midstream stock to make a market-neutral strategy. Peer analysis of Equitrans Midstream could also be used in its relative valuation, which is a method of valuing Equitrans Midstream by comparing valuation metrics with similar companies.

Crestwood Equity Partners MPLX LP Plains All American Hess Midstream Partners Plains GP Holdings DCP Midstream LP Targa Resources Western Midstream Partners Holly Energy Partners EnLink Midstream LLC NuStar Energy LP Magellan Midstream Partners American Airlines Group Alcoa Corp Apple Inc

Risk & Return

Correlation

Equitrans Midstream Corporate Management

Janice Brenner	Treasurer	Profile
Vicky Bailey	Independent Director	Profile
Sarah Barpoulis	Independent Director	Profile
Kenneth Burke	Independent Director	Profile
D Leland	Independent Director	Profile
Margaret Dorman	Independent Director	Profile
Patricia Collawn	Independent Director	Profile

Still Interested in Equitrans Midstream Corp?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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