Kinder Morgan Correlations

KMI Stock

USD 28.06 0.21 0.75%

The current 90-days correlation between Kinder Morgan and ONEOK Inc is 0.74 (i.e., Poor diversification). The correlation of Kinder Morgan 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.

Kinder Morgan Correlation With Market

Modest diversification

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

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kinder Morgan. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For more detail on how to invest in Kinder Stock please use our How to Invest in Kinder Morgan guide.

Moving together with Kinder Stock

0.61	EE	Excelerate Energy	Pair Corr
0.83	DTM	DT Midstream	Pair Corr
0.84	LNG	Cheniere Energy	Pair Corr
0.61	NGL	NGL Energy Partners	Pair Corr
0.72	OKE	ONEOK Inc	Pair Corr
0.68	WMB	Williams Companies	Pair Corr

Moving against Kinder Stock

0.39

MMLP

Martin Midstream Partners

Pair Corr

Related Correlations Analysis

	OKE	MPLX	EPD	MMP	ET	ENB	WMB	TRP
OKE		-0.41	-0.18	0.0	0.54	0.27	0.38	0.32	OKE
MPLX	-0.41		0.92	0.0	0.21	0.49	0.58	0.08	MPLX
EPD	-0.18	0.92		0.0	0.31	0.64	0.71	0.15	EPD
MMP	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MMP
ET	0.54	0.21	0.31	0.0		0.63	0.53	0.26	ET
ENB	0.27	0.49	0.64	0.0	0.63		0.63	0.63	ENB
WMB	0.38	0.58	0.71	0.0	0.53	0.63		0.41	WMB
TRP	0.32	0.08	0.15	0.0	0.26	0.63	0.41		TRP
	OKE	MPLX	EPD	MMP	ET	ENB	WMB	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

EPD	+ 0.92	MPLX
WMB	+ 0.71	EPD
ENB	+ 0.64	EPD
ENB	+ 0.63	ET
WMB	+ 0.63	ENB
TRP	+ 0.63	ENB

High negative correlations

MPLX	- 0.41	OKE
EPD	- 0.18	OKE
TRP	- 0.0	MMP
WMB	- 0.0	MMP
ENB	- 0.0	MMP
ET	- 0.0	MMP

Risk-Adjusted Indicators

There is a big difference between Kinder Stock performing well and Kinder Morgan 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 Kinder Morgan'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
OKE	1.28	0.00	0.00	(0.07)	0.00	0.00	2.48	(3.24)	7.50
MPLX	1.11	0.26	0.21	0.31	1.10	(1.33)	2.48	(2.19)	5.75
EPD	0.84	0.13	0.17	0.20	0.91	(0.97)	1.80	(1.43)	5.35
MMP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ET	1.38	0.06	0.04	0.02	1.88	(1.32)	3.08	(2.76)	9.12
ENB	0.90	0.11	0.11	0.12	1.23	(0.90)	1.80	(2.18)	5.69
WMB	1.41	0.19	0.11	0.21	1.86	(1.60)	3.24	(2.36)	12.05
TRP	0.91	0.08	0.09	0.13	1.34	(0.85)	1.81	(2.11)	6.60

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