Martin Midstream Correlations

MMLP Stock

USD 3.71 0.05 1.37%

The correlation of Martin Midstream 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.

Martin Midstream Correlation With Market

Weak diversification

The correlation between Martin Midstream Partners and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Martin Midstream Partners 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 Martin Midstream Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving against Martin Stock

0.64	FLNG	FLEX LNG	Pair Corr
0.58	TK	Teekay	Pair Corr
0.46	ENB	Enbridge	Pair Corr
0.43	DLNG	Dynagas LNG Partners	Pair Corr
0.42	FRO	Frontline	Pair Corr
0.39	NGL	NGL Energy Partners	Pair Corr
0.38	LPG	Dorian LPG	Pair Corr
0.36	LNG	Cheniere Energy	Pair Corr
0.36	PBT	Permian Basin Royalty	Pair Corr
0.35	ET	Energy Transfer LP	Pair Corr
0.33	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.31	VNOM	Viper Energy Ut	Pair Corr
0.58	MARPS	Marine Petroleum Trust	Pair Corr
0.57	NGL-PB	NGL Energy Partners	Pair Corr
0.53	TNK	Teekay Tankers	Pair Corr
0.53	KNOP	KNOT Offshore Partners	Pair Corr
0.5	INSW	International Seaways	Pair Corr
0.49	NGL-PC	NGL Energy Partners	Pair Corr
0.48	NVGS	Navigator Holdings	Pair Corr
0.47	IMPP	Imperial Petroleum	Pair Corr
0.46	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.38	TRP	TC Energy Corp	Pair Corr
0.34	KNTK	Kinetik Holdings	Pair Corr

Related Correlations Analysis

	HEP	NS	WES	ENLC	KNTK	NGL	GEL	TWMIF	DLNG
HEP		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HEP
NS	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	NS
WES	0.0	0.0		-0.04	0.34	0.19	0.46	0.64	-0.26	WES
ENLC	0.0	0.0	-0.04		0.33	0.6	-0.51	-0.02	0.67	ENLC
KNTK	0.0	0.0	0.34	0.33		0.72	-0.58	-0.04	0.58	KNTK
NGL	0.0	0.0	0.19	0.6	0.72		-0.51	0.06	0.68	NGL
GEL	0.0	0.0	0.46	-0.51	-0.58	-0.51		0.63	-0.78	GEL
TWMIF	0.0	0.0	0.64	-0.02	-0.04	0.06	0.63		-0.38	TWMIF
DLNG	0.0	0.0	-0.26	0.67	0.58	0.68	-0.78	-0.38		DLNG
	HEP	NS	WES	ENLC	KNTK	NGL	GEL	TWMIF	DLNG

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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

NGL	+ 0.72	KNTK
DLNG	+ 0.68	NGL
DLNG	+ 0.67	ENLC
TWMIF	+ 0.64	WES
TWMIF	+ 0.63	GEL
NGL	+ 0.6	ENLC

High negative correlations

DLNG	- 0.78	GEL
GEL	- 0.58	KNTK
GEL	- 0.51	NGL
GEL	- 0.51	ENLC
DLNG	- 0.38	TWMIF
DLNG	- 0.26	WES

Risk-Adjusted Indicators

There is a big difference between Martin Stock performing well and Martin 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 Martin 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
HEP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WES	1.31	0.11	0.07	0.16	1.47	(1.43)	2.77	(2.50)	7.33
ENLC	1.09	(0.05)	0.00	0.33	0.00	0.00	1.99	(3.17)	6.59
KNTK	1.80	(0.05)	0.00	(0.06)	0.00	0.00	3.65	(3.57)	13.36
NGL	2.08	0.01	0.00	0.03	4.12	(2.11)	4.59	(3.66)	25.13
GEL	1.83	0.72	0.40	1.59	1.27	(2.30)	4.32	(3.04)	17.19
TWMIF	5.01	1.19	0.13	0.36	4.55	(13.01)	16.67	(7.69)	71.37
DLNG	1.89	(0.16)	0.00	22.22	0.00	0.00	3.36	(3.85)	15.85

Martin Midstream Corporate Management

Sharon Taylor	Executive LLC	Profile
Scot Shoup	Senior LLC	Profile
Johnnie Murry	Senior LLC	Profile
Damon King	VP LLC	Profile

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