Star Gas Correlations

SGU Stock

USD 13.34 0.11 0.82%

The current 90-days correlation between Star Gas Partners and Par Pacific Holdings is 0.16 (i.e., Average diversification). The correlation of Star 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.

Star Gas Correlation With Market

Modest diversification

The correlation between Star Gas Partners and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Star Gas Partners and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Star Gas 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 price.

Moving together with Star Stock

0.7	IEP	Icahn Enterprises	Pair Corr
0.9	PSX	Phillips 66	Pair Corr
0.92	SUN	Sunoco LP	Pair Corr
0.78	UGP	Ultrapar Participacoes	Pair Corr
0.69	CAPL	Crossamerica Partners	Pair Corr
0.71	D	Dominion Energy	Pair Corr
0.9	ED	Consolidated Edison	Pair Corr
0.73	ES	Eversource Energy	Pair Corr
0.64	HE	Hawaiian Electric	Pair Corr
0.91	NI	NiSource	Pair Corr
0.91	SO	Southern	Pair Corr
0.96	SR	Spire Inc	Pair Corr
0.91	DUKB	Duke Energy Corp	Pair Corr
0.64	ELPC	Companhia Paranaense	Pair Corr
0.96	ENIC	Enel Chile SA	Pair Corr
0.96	EVRG	Evergy,	Pair Corr
0.94	AEE	Ameren Corp	Pair Corr

Moving against Star Stock

0.75	AMTX	Aemetis	Pair Corr
0.71	PBF	PBF Energy Downward Rally	Pair Corr
0.65	PTLE	PTL LTD Ordinary	Pair Corr
0.54	PARR	Par Pacific Holdings	Pair Corr
0.51	CSAN	Cosan SA ADR Earnings Call This Week	Pair Corr
0.47	DK	Delek Energy	Pair Corr
0.47	CMS-PC	CMS Energy	Pair Corr
0.78	RNWWW	ReNew Energy Global	Pair Corr
0.62	EDN	Empresa Distribuidora	Pair Corr
0.43	ELLO	Ellomay Capital	Pair Corr
0.4	AES	AES Aggressive Push	Pair Corr
0.38	BIP	Brookfield Infrastructure	Pair Corr

Related Correlations Analysis

	UGP	PARR	DK	CAPL	DKL	CVI	PBF	DINO	SUN	CSAN
UGP		-0.24	-0.12	0.6	0.42	0.39	-0.37	0.1	0.77	-0.04	UGP
PARR	-0.24		0.91	-0.66	0.41	0.4	0.87	0.75	-0.33	0.41	PARR
DK	-0.12	0.91		-0.52	0.46	0.41	0.84	0.76	-0.31	0.5	DK
CAPL	0.6	-0.66	-0.52		-0.04	0.0	-0.57	-0.26	0.63	-0.25	CAPL
DKL	0.42	0.41	0.46	-0.04		0.61	0.26	0.24	0.42	-0.06	DKL
CVI	0.39	0.4	0.41	0.0	0.61		0.27	0.39	0.21	0.23	CVI
PBF	-0.37	0.87	0.84	-0.57	0.26	0.27		0.67	-0.47	0.5	PBF
DINO	0.1	0.75	0.76	-0.26	0.24	0.39	0.67		-0.01	0.36	DINO
SUN	0.77	-0.33	-0.31	0.63	0.42	0.21	-0.47	-0.01		-0.53	SUN
CSAN	-0.04	0.41	0.5	-0.25	-0.06	0.23	0.5	0.36	-0.53		CSAN
	UGP	PARR	DK	CAPL	DKL	CVI	PBF	DINO	SUN	CSAN

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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

DK	+ 0.91	PARR
PBF	+ 0.87	PARR
PBF	+ 0.84	DK
SUN	+ 0.77	UGP
DINO	+ 0.76	DK
DINO	+ 0.75	PARR

High negative correlations

CAPL	- 0.66	PARR
PBF	- 0.57	CAPL
CSAN	- 0.53	SUN
CAPL	- 0.52	DK
SUN	- 0.47	PBF
PBF	- 0.37	UGP

Risk-Adjusted Indicators

There is a big difference between Star Stock performing well and Star 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 Star 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
UGP	2.16	0.27	0.11	0.23	2.31	(2.59)	5.92	(3.91)	11.08
PARR	2.54	0.00	0.00	(0.07)	0.00	0.00	4.89	(5.53)	16.24
DK	2.66	0.06	0.03	0.05	3.35	(2.70)	5.29	(5.12)	16.57
CAPL	0.75	0.19	0.24	1.26	0.74	(0.81)	1.61	(1.36)	4.68
DKL	1.02	0.21	0.21	0.34	0.96	(1.17)	2.92	(1.98)	6.06
CVI	2.18	0.23	0.10	0.44	2.55	(2.15)	5.07	(3.86)	12.26
PBF	2.68	(0.38)	0.00	(0.50)	0.00	0.00	5.31	(5.39)	22.28
DINO	1.88	(0.06)	0.00	(0.12)	0.00	0.00	3.90	(4.79)	12.94
SUN	0.98	0.15	0.13	0.22	1.16	(0.95)	2.39	(2.13)	5.34
CSAN	2.80	(0.01)	0.00	(0.08)	0.00	0.00	6.31	(5.69)	15.34

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