Transportadora Correlations

TGS Stock

USD 27.56 0.65 2.42%

The current 90-days correlation between Transportadora de Gas and National Fuel Gas is 0.14 (i.e., Average diversification). The correlation of Transportadora 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.

Transportadora Correlation With Market

Modest diversification

The correlation between Transportadora de Gas and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transportadora de Gas 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 Transportadora de 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.

Moving together with Transportadora Stock

0.73	VIVK	Vivakor	Pair Corr
0.72	CVE	Cenovus Energy	Pair Corr
0.91	YPF	YPF Sociedad Anonima	Pair Corr
0.76	SKYQ	Sky Quarry	Pair Corr
0.68	CGBS	Crown LNG Holdings	Pair Corr
0.66	CRGY	Crescent Energy	Pair Corr
0.74	EU	enCore Energy Corp	Pair Corr
0.74	HP	Helmerich and Payne	Pair Corr
0.74	NE	Noble plc	Pair Corr
0.65	PR	Permian Resources	Pair Corr
0.76	SM	SM Energy	Pair Corr
0.84	DLNG	Dynagas LNG Partners	Pair Corr
0.8	DMLP	Dorchester Minerals	Pair Corr
0.78	VIST	Vista Oil Gas	Pair Corr

Moving against Transportadora Stock

0.71	NFG	National Fuel Gas	Pair Corr
0.59	TTE	TotalEnergies SE ADR	Pair Corr
0.57	EC	Ecopetrol SA ADR	Pair Corr
0.48	BP	BP PLC ADR	Pair Corr
0.47	E	Eni SpA ADR	Pair Corr
0.46	SHEL	Shell PLC ADR	Pair Corr
0.42	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.35	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.31	IMO	Imperial Oil	Pair Corr
0.54	AM	Antero Midstream Partners	Pair Corr
0.48	NC	NACCO Industries	Pair Corr
0.34	ANNAW	AleAnna, Warrant	Pair Corr

Related Correlations Analysis

	PBR	EC	PBR-A	EQNR	E	TTE	NFG	YPF	SHEL	BP
PBR		0.67	0.92	0.31	0.54	0.57	0.53	-0.16	0.59	0.67	PBR
EC	0.67		0.67	0.21	0.84	0.9	0.89	-0.76	0.86	0.92	EC
PBR-A	0.92	0.67		0.06	0.46	0.48	0.47	-0.21	0.48	0.61	PBR-A
EQNR	0.31	0.21	0.06		0.53	0.37	0.23	0.13	0.52	0.37	EQNR
E	0.54	0.84	0.46	0.53		0.93	0.87	-0.65	0.97	0.9	E
TTE	0.57	0.9	0.48	0.37	0.93		0.96	-0.76	0.95	0.93	TTE
NFG	0.53	0.89	0.47	0.23	0.87	0.96		-0.85	0.91	0.86	NFG
YPF	-0.16	-0.76	-0.21	0.13	-0.65	-0.76	-0.85		-0.65	-0.67	YPF
SHEL	0.59	0.86	0.48	0.52	0.97	0.95	0.91	-0.65		0.91	SHEL
BP	0.67	0.92	0.61	0.37	0.9	0.93	0.86	-0.67	0.91		BP
	PBR	EC	PBR-A	EQNR	E	TTE	NFG	YPF	SHEL	BP

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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

SHEL	+ 0.97	E
NFG	+ 0.96	TTE
SHEL	+ 0.95	TTE
TTE	+ 0.93	E
BP	+ 0.93	TTE
PBR-A	+ 0.92	PBR

High negative correlations

YPF	- 0.85	NFG
YPF	- 0.76	TTE
YPF	- 0.76	EC
BP	- 0.67	YPF
SHEL	- 0.65	YPF
YPF	- 0.65	E

Risk-Adjusted Indicators

There is a big difference between Transportadora Stock performing well and Transportadora 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 Transportadora'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
PBR	1.22	0.15	0.10	0.28	1.67	(1.24)	3.07	(2.21)	10.11
EC	1.78	0.40	0.18	0.41	1.78	(2.00)	4.99	(3.80)	11.63
PBR-A	1.26	0.08	0.06	0.10	1.77	(1.28)	2.51	(2.32)	8.79
EQNR	1.57	0.20	0.11	0.95	1.99	(1.60)	3.68	(3.54)	9.90
E	0.88	0.19	0.19	0.41	1.03	(0.86)	1.77	(1.52)	4.52
TTE	0.78	0.23	0.27	0.72	0.73	(0.85)	1.87	(1.44)	4.36
NFG	0.89	0.41	0.43	0.78	0.65	(1.07)	2.32	(1.57)	4.36
YPF	2.12	(0.22)	0.00	(0.38)	0.00	0.00	4.92	(5.00)	12.88
SHEL	0.84	0.21	0.21	0.45	0.92	(0.86)	1.93	(1.91)	5.34
BP	1.08	0.26	0.20	0.66	1.27	(1.17)	2.50	(2.18)	10.62

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