Cheniere Energy Correlations

LNG Stock

USD 227.27 3.24 1.45%

The correlation of Cheniere Energy 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.

Cheniere Energy Correlation With Market

Good diversification

The correlation between Cheniere Energy and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cheniere Energy 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 Cheniere Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Cheniere Stock

0.68	DTM	DT Midstream	Pair Corr
0.82	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.7	OKE	ONEOK Inc	Pair Corr
0.64	WMB	Williams Companies	Pair Corr

Moving against Cheniere Stock

0.37

DLNG-PB

Dynagas LNG Partners

Pair Corr

Related Correlations Analysis

	HEP	WES	DCP	CEQP	WMB	EPD	OKE	ET	ENB	LPG
HEP		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HEP
WES	0.0		0.0	0.0	0.26	0.8	0.04	0.45	0.67	0.04	WES
DCP	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	DCP
CEQP	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CEQP
WMB	0.0	0.26	0.0	0.0		0.19	0.49	0.33	0.1	0.09	WMB
EPD	0.0	0.8	0.0	0.0	0.19		-0.31	0.13	0.64	-0.3	EPD
OKE	0.0	0.04	0.0	0.0	0.49	-0.31		0.61	0.18	0.73	OKE
ET	0.0	0.45	0.0	0.0	0.33	0.13	0.61		0.58	0.61	ET
ENB	0.0	0.67	0.0	0.0	0.1	0.64	0.18	0.58		0.29	ENB
LPG	0.0	0.04	0.0	0.0	0.09	-0.3	0.73	0.61	0.29		LPG
	HEP	WES	DCP	CEQP	WMB	EPD	OKE	ET	ENB	LPG

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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	+ 0.8	WES
LPG	+ 0.73	OKE
ENB	+ 0.67	WES
ENB	+ 0.64	EPD
ET	+ 0.61	OKE
LPG	+ 0.61	ET

High negative correlations

OKE	- 0.31	EPD
LPG	- 0.3	EPD
LPG	- 0.0	CEQP
ENB	- 0.0	CEQP
ET	- 0.0	CEQP
OKE	- 0.0	CEQP

Risk-Adjusted Indicators

There is a big difference between Cheniere Stock performing well and Cheniere Energy 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 Cheniere Energy'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
HEP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WES	1.31	0.15	0.11	0.16	1.45	(1.43)	2.77	(2.50)	7.33
DCP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CEQP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WMB	1.41	0.18	0.13	(1.24)	1.87	(1.55)	3.24	(2.05)	12.05
EPD	0.84	0.09	0.16	(2.60)	0.91	(0.97)	1.80	(1.43)	5.35
OKE	1.26	(0.01)	0.05	(0.02)	1.69	(1.32)	2.20	(3.07)	7.50
ET	1.37	0.01	0.04	(0.50)	1.87	(1.34)	3.05	(2.76)	8.95
ENB	0.90	0.06	0.11	(0.37)	1.23	(0.90)	1.80	(2.18)	5.69
LPG	2.01	0.05	0.04	0.09	2.66	(2.11)	4.25	(5.55)	11.00

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