One Gas Correlations

OGS Stock

USD 74.54 0.46 0.62%

The current 90-days correlation between One Gas and Northwest Natural Gas is 0.75 (i.e., Poor diversification). The correlation of One Gas 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.

One Gas Correlation With Market

Modest diversification

The correlation between One Gas and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding One Gas and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in One Gas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with One Stock

0.85	NI	NiSource Sell-off Trend	Pair Corr
0.89	SR	Spire Inc	Pair Corr
0.95	ATO	Atmos Energy	Pair Corr
0.79	BKH	Black Hills	Pair Corr
0.82	CPK	Chesapeake Utilities	Pair Corr
0.69	NJR	NewJersey Resources	Pair Corr
0.86	NWN	Northwest Natural Gas	Pair Corr
0.62	SPH	Suburban Propane Partners	Pair Corr
0.61	SWX	Southwest Gas Holdings	Pair Corr
0.79	UGI	UGI Corporation	Pair Corr
0.76	D	Dominion Energy	Pair Corr
0.9	ED	Consolidated Edison	Pair Corr
0.85	ES	Eversource Energy	Pair Corr
0.75	HE	Hawaiian Electric	Pair Corr
0.91	SO	Southern	Pair Corr
0.73	DUKB	Duke Energy Corp	Pair Corr
0.65	ELPC	Companhia Paranaense	Pair Corr
0.75	ENIC	Enel Chile SA	Pair Corr
0.85	EVRG	Evergy,	Pair Corr
0.66	WTRG	Essential Utilities	Pair Corr
0.84	AEE	Ameren Corp	Pair Corr
0.86	AEP	American Electric Power	Pair Corr
0.74	ALE	Allete Inc	Pair Corr
0.8	AQN	Algonquin Power Utilities	Pair Corr

Moving against One Stock

0.71	NFE	New Fortress Energy Buyout Trend	Pair Corr
0.67	OPAL	OPAL Fuels	Pair Corr
0.6	CTRI	Centuri Holdings,	Pair Corr
0.56	RNWWW	ReNew Energy Global	Pair Corr
0.31	CMS-PC	CMS Energy	Pair Corr
0.53	EDN	Empresa Distribuidora	Pair Corr
0.5	EIX	Edison International	Pair Corr
0.36	AES	AES Aggressive Push	Pair Corr
0.35	BIP	Brookfield Infrastructure	Pair Corr

Related Correlations Analysis

	NWN	CPK	NIMC	UGIC	NJR	RGCO	ATO
NWN		0.92	0.0	0.0	0.7	0.35	0.82	NWN
CPK	0.92		0.0	0.0	0.81	0.3	0.71	CPK
NIMC	0.0	0.0		0.0	0.0	0.0	0.0	NIMC
UGIC	0.0	0.0	0.0		0.0	0.0	0.0	UGIC
NJR	0.7	0.81	0.0	0.0		0.19	0.56	NJR
RGCO	0.35	0.3	0.0	0.0	0.19		0.28	RGCO
ATO	0.82	0.71	0.0	0.0	0.56	0.28		ATO
	NWN	CPK	NIMC	UGIC	NJR	RGCO	ATO

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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

CPK	+ 0.92	NWN
ATO	+ 0.82	NWN
NJR	+ 0.81	CPK
ATO	+ 0.71	CPK
NJR	+ 0.7	NWN
ATO	+ 0.56	NJR

High negative correlations

ATO	- 0.0	UGIC
RGCO	- 0.0	UGIC
NJR	- 0.0	UGIC
ATO	- 0.0	NIMC
RGCO	- 0.0	NIMC
NJR	- 0.0	NIMC

Risk-Adjusted Indicators

There is a big difference between One Stock performing well and One Gas 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 One Gas' 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
NWN	0.95	0.05	0.09	0.04	1.32	(1.01)	2.01	(2.20)	5.30
CPK	0.99	0.04	0.00	(0.03)	0.00	0.00	2.41	(1.99)	6.12
NIMC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UGIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NJR	0.99	0.07	0.09	0.07	1.48	(0.94)	2.02	(2.45)	5.41
RGCO	1.67	0.12	0.08	0.13	2.00	(1.80)	3.15	(3.48)	7.96
ATO	0.93	0.13	0.16	0.26	1.10	(1.00)	1.96	(1.77)	5.33

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