Suburban Propane Correlations

SPH Stock

USD 20.99 0.01 0.05%

The current 90-days correlation between Suburban Propane Partners and Northwest Natural Gas is 0.37 (i.e., Weak diversification). The correlation of Suburban Propane 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.

Suburban Propane Correlation With Market

Modest diversification

The correlation between Suburban Propane Partners and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Suburban Propane 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 Suburban Propane 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 american community survey.

Moving together with Suburban Stock

0.63	NI	NiSource	Pair Corr
0.74	SR	Spire Inc	Pair Corr
0.72	ATO	Atmos Energy	Pair Corr
0.67	BKH	Black Hills	Pair Corr
0.61	CPK	Chesapeake Utilities	Pair Corr
0.74	NWN	Northwest Natural Gas	Pair Corr
0.61	OGS	One Gas	Pair Corr
0.9	SWX	Southwest Gas Holdings	Pair Corr
0.85	UGI	UGI Corporation	Pair Corr
0.62	ED	Consolidated Edison	Pair Corr
0.73	ES	Eversource Energy	Pair Corr
0.87	CDZIP	Cadiz Depositary Shares	Pair Corr
0.84	ELPC	Companhia Paranaense	Pair Corr
0.67	ENIC	Enel Chile SA	Pair Corr
0.82	EVRG	Evergy,	Pair Corr
0.83	AEE	Ameren Corp	Pair Corr
0.63	AEP	American Electric Power	Pair Corr
0.83	ALE	Allete Inc	Pair Corr

Moving against Suburban Stock

0.56	NFE	New Fortress Energy	Pair Corr
0.48	OPAL	OPAL Fuels	Pair Corr
0.7	WAVE	Eco Wave Power	Pair Corr
0.53	AES	AES	Pair Corr
0.49	RNWWW	ReNew Energy Global	Pair Corr
0.47	ELLO	Ellomay Capital Earnings Call This Week	Pair Corr
0.37	CMS-PC	CMS Energy	Pair Corr
0.37	ADN	Advent Technologies	Pair Corr

Related Correlations Analysis

	NWN	NJR	ATO	UGIC	CPK	OGS	NIMC	RGCO	SR	NI
NWN		0.71	0.96	0.0	0.92	0.93	0.0	0.34	0.96	0.74	NWN
NJR	0.71		0.73	0.0	0.78	0.76	0.0	0.2	0.75	0.36	NJR
ATO	0.96	0.73		0.0	0.89	0.97	0.0	0.25	0.95	0.69	ATO
UGIC	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	UGIC
CPK	0.92	0.78	0.89	0.0		0.9	0.0	0.28	0.89	0.64	CPK
OGS	0.93	0.76	0.97	0.0	0.9		0.0	0.13	0.91	0.7	OGS
NIMC	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NIMC
RGCO	0.34	0.2	0.25	0.0	0.28	0.13	0.0		0.32	0.18	RGCO
SR	0.96	0.75	0.95	0.0	0.89	0.91	0.0	0.32		0.63	SR
NI	0.74	0.36	0.69	0.0	0.64	0.7	0.0	0.18	0.63		NI
	NWN	NJR	ATO	UGIC	CPK	OGS	NIMC	RGCO	SR	NI

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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

OGS	+ 0.97	ATO
ATO	+ 0.96	NWN
SR	+ 0.96	NWN
SR	+ 0.95	ATO
OGS	+ 0.93	NWN
CPK	+ 0.92	NWN

High negative correlations

NI	- 0.0	NIMC
SR	- 0.0	NIMC
RGCO	- 0.0	NIMC
NIMC	- 0.0	OGS
NIMC	- 0.0	CPK
NI	- 0.0	UGIC

Risk-Adjusted Indicators

There is a big difference between Suburban Stock performing well and Suburban Propane 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 Suburban Propane'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
NWN	0.92	0.08	0.06	0.23	1.11	(0.96)	2.01	(1.53)	5.30
NJR	0.94	0.07	0.05	0.16	1.27	(0.89)	2.02	(2.27)	5.41
ATO	0.95	0.12	0.11	0.27	0.97	(1.03)	1.96	(1.64)	5.33
UGIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CPK	0.98	0.04	0.03	0.07	1.20	(1.01)	2.41	(1.81)	6.12
OGS	1.02	0.09	0.08	0.22	1.06	(1.14)	2.31	(1.70)	5.16
NIMC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RGCO	1.65	0.07	0.03	0.13	1.91	(1.81)	3.43	(3.34)	7.51
SR	0.98	0.24	0.16	0.45	1.19	(1.02)	1.76	(1.62)	7.80
NI	0.92	0.19	0.13	0.36	1.24	(0.93)	2.06	(2.27)	6.69

Suburban Propane Corporate Management

Jane Swift	Independent Member of the Supervisory Board	Profile
M Dagan	Vice President Strategic Initiatives - Renewable Energy	Profile
Francesca Cleffi	Vice President of Human Resources	Profile
Matthew Chanin	Independent Member of the Supervisory Board	Profile

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