Plains GP Correlations

PAGP Stock

USD 20.02 0.55 2.82%

The current 90-days correlation between Plains GP Holdings and DCP Midstream LP is -0.02 (i.e., Good diversification). The correlation of Plains GP 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.

Plains GP Correlation With Market

Weak diversification

The correlation between Plains GP Holdings and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plains GP Holdings 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 Plains GP Holdings. 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.

Moving together with Plains Stock

0.63	EPD	Enterprise Products	Pair Corr
0.61	NGL	NGL Energy Partners	Pair Corr
0.98	PAA	Plains All American	Pair Corr
0.64	WES	Western Midstream	Pair Corr
0.85	HESM	Hess Midstream Partners	Pair Corr

Related Correlations Analysis

	DCP	TRGP	ETRN	WES	HEP	MPLX	NS	MMP	PAA	GEL
DCP		0.83	0.04	0.23	0.83	0.78	0.81	0.83	0.17	-0.64	DCP
TRGP	0.83		-0.37	0.17	0.87	0.91	0.69	0.75	0.36	-0.75	TRGP
ETRN	0.04	-0.37		0.07	-0.11	-0.42	0.17	0.01	-0.41	0.42	ETRN
WES	0.23	0.17	0.07		0.09	0.38	0.03	0.21	0.65	0.23	WES
HEP	0.83	0.87	-0.11	0.09		0.77	0.89	0.85	0.12	-0.57	HEP
MPLX	0.78	0.91	-0.42	0.38	0.77		0.61	0.76	0.58	-0.62	MPLX
NS	0.81	0.69	0.17	0.03	0.89	0.61		0.93	-0.03	-0.42	NS
MMP	0.83	0.75	0.01	0.21	0.85	0.76	0.93		0.24	-0.44	MMP
PAA	0.17	0.36	-0.41	0.65	0.12	0.58	-0.03	0.24		0.0	PAA
GEL	-0.64	-0.75	0.42	0.23	-0.57	-0.62	-0.42	-0.44	0.0		GEL
	DCP	TRGP	ETRN	WES	HEP	MPLX	NS	MMP	PAA	GEL

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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

MMP	+ 0.93	NS
MPLX	+ 0.91	TRGP
NS	+ 0.89	HEP
HEP	+ 0.87	TRGP
MMP	+ 0.85	HEP
TRGP	+ 0.83	DCP

High negative correlations

GEL	- 0.75	TRGP
GEL	- 0.64	DCP
GEL	- 0.62	MPLX
GEL	- 0.57	HEP
GEL	- 0.44	MMP
GEL	- 0.42	NS

Risk-Adjusted Indicators

There is a big difference between Plains Stock performing well and Plains GP 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 Plains GP'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
DCP	0.08	0.01	(0.97)	(0.18)	0.00	(0.11)	0.22	(0.15)	0.53
TRGP	1.25	0.47	0.21	1.04	1.28	(1.40)	2.39	(2.03)	7.97
ETRN	1.30	0.09	(0.06)	(0.08)	1.45	(1.43)	2.84	(2.48)	7.37
WES	1.13	0.13	0.02	0.68	1.29	(1.20)	2.48	(2.16)	5.82
HEP	1.05	0.19	0.07	0.90	1.08	(1.11)	2.21	(1.97)	4.89
MPLX	0.73	0.28	0.33	0.82	0.00	(0.90)	2.24	(0.83)	3.38
NS	1.06	0.17	0.06	1.43	0.97	(1.28)	2.56	(2.04)	6.35
MMP	0.95	0.24	0.13	1.48	0.71	(1.09)	1.95	(1.58)	15.46
PAA	1.02	0.07	0.01	0.24	1.23	(1.12)	2.38	(2.06)	6.78
GEL	1.41	(0.25)	0.00	(0.15)	0.00	0.00	3.25	(2.58)	14.40

Plains GP Corporate Management

Russ Montgomery	VP Controller	Profile
Constantine Liollio	Senior Projects	Profile
Brad Leone	Director LLC	Profile
Sharon Spurlin	Senior Treasurer	Profile

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