MPLX LP Correlations

MPLX Stock

USD 54.45 0.20 0.37%

The current 90-days correlation between MPLX LP and ONEOK Inc is 0.63 (i.e., Poor diversification). The correlation of MPLX LP 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.

MPLX LP Correlation With Market

Very weak diversification

The correlation between MPLX LP and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MPLX LP 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 MPLX LP. 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.

For more information on how to buy MPLX Stock please use our How to Invest in MPLX LP guide.

Moving together with MPLX Stock

0.91	AM	Antero Midstream Partners	Pair Corr
0.93	CQP	Cheniere Energy Partners	Pair Corr
0.79	DHT	DHT Holdings	Pair Corr
0.91	EPD	Enterprise Products	Pair Corr
0.65	FRO	Frontline	Pair Corr
0.75	GEL	Genesis Energy LP Buyout Trend	Pair Corr
0.87	GLP	Global Partners LP	Pair Corr
0.88	PAA	Plains All American Sell-off Trend	Pair Corr
0.62	GLOP-PB	GasLog Partners LP	Pair Corr
0.75	GLOP-PC	GasLog Partners LP	Pair Corr
0.82	SMC	Summit Midstream Symbol Change	Pair Corr
0.75	WES	Western Midstream	Pair Corr
0.89	EP-PC	El Paso Energy	Pair Corr
0.92	HESM	Hess Midstream Partners	Pair Corr

Moving against MPLX Stock

0.83	PXSAW	Pyxis Tankers	Pair Corr
0.62	DLNG	Dynagas LNG Partners	Pair Corr
0.4	VNOM	Viper Energy Ut	Pair Corr
0.37	BPT	BP Prudhoe Bay	Pair Corr
0.34	EE	Excelerate Energy	Pair Corr
0.53	PBT	Permian Basin Royalty	Pair Corr
0.44	OKE	ONEOK Inc	Pair Corr
0.42	LPG	Dorian LPG	Pair Corr
0.55	GLNG	Golar LNG Limited Sell-off Trend	Pair Corr
0.53	IMPP	Imperial Petroleum	Pair Corr

Related Correlations Analysis

	OKE	EPD	ET	PAA	MMP	KMI	ENB	HEP	NS	WES
OKE		-0.2	0.49	-0.17	0.0	0.69	0.24	0.0	0.0	0.07	OKE
EPD	-0.2		0.35	0.95	0.0	0.21	0.63	0.0	0.0	0.83	EPD
ET	0.49	0.35		0.48	0.0	0.61	0.66	0.0	0.0	0.64	ET
PAA	-0.17	0.95	0.48		0.0	0.23	0.63	0.0	0.0	0.89	PAA
MMP	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MMP
KMI	0.69	0.21	0.61	0.23	0.0		0.59	0.0	0.0	0.38	KMI
ENB	0.24	0.63	0.66	0.63	0.0	0.59		0.0	0.0	0.68	ENB
HEP	0.0	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		0.0	NS
WES	0.07	0.83	0.64	0.89	0.0	0.38	0.68	0.0	0.0		WES
	OKE	EPD	ET	PAA	MMP	KMI	ENB	HEP	NS	WES

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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

PAA	+ 0.95	EPD
WES	+ 0.89	PAA
WES	+ 0.83	EPD
KMI	+ 0.69	OKE
WES	+ 0.68	ENB
ENB	+ 0.66	ET

High negative correlations

EPD	- 0.2	OKE
PAA	- 0.17	OKE
WES	- 0.0	NS
WES	- 0.0	HEP
NS	- 0.0	HEP
NS	- 0.0	ENB

Risk-Adjusted Indicators

There is a big difference between MPLX Stock performing well and MPLX LP 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 MPLX LP'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	1.26	(0.03)	0.00	(0.13)	0.00	0.00	2.48	(3.24)	7.50
EPD	0.85	0.13	0.17	0.19	0.92	(0.97)	1.80	(1.43)	5.35
ET	1.39	0.09	0.07	0.05	1.87	(1.35)	3.08	(2.76)	9.12
PAA	1.27	0.25	0.18	0.31	1.44	(1.36)	2.54	(2.69)	10.03
MMP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KMI	1.16	0.10	0.07	0.15	2.07	(1.17)	2.62	(2.23)	12.28
ENB	0.89	0.11	0.11	0.11	1.23	(0.88)	1.80	(2.18)	5.69
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	1.37	0.18	0.13	0.18	1.49	(1.50)	2.89	(2.50)	7.33

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