Viper Energy Correlations

VNOM Stock

USD 44.23 1.14 2.51%

The current 90-days correlation between Viper Energy Ut and Western Midstream Partners is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Viper Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Viper Energy Ut moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Viper Energy Correlation With Market

Weak diversification

The correlation between Viper Energy Ut and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Viper Energy Ut 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 Viper Energy Ut. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Viper Stock

0.68	EE	Excelerate Energy	Pair Corr
0.65	DLNG	Dynagas LNG Partners	Pair Corr
0.75	DTM	DT Midstream	Pair Corr
0.73	LPG	Dorian LPG	Pair Corr
0.73	OKE	ONEOK Inc	Pair Corr
0.84	PBT	Permian Basin Royalty	Pair Corr
0.76	PXS	Pyxis Tankers	Pair Corr
0.67	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.91	GLNG	Golar LNG Limited	Pair Corr

Moving against Viper Stock

0.67	GEL	Genesis Energy LP	Pair Corr
0.47	AM	Antero Midstream Partners	Pair Corr
0.42	CQP	Cheniere Energy Partners	Pair Corr
0.34	EPD	Enterprise Products	Pair Corr
0.76	GLOP-PC	GasLog Partners LP	Pair Corr
0.69	GLOP-PB	GasLog Partners LP	Pair Corr
0.63	GLOP-PA	GasLog Partners LP	Pair Corr
0.51	PBA	Pembina Pipeline Corp	Pair Corr
0.43	SEAL-PB	Seapeak LLC	Pair Corr
0.42	HESM	Hess Midstream Partners	Pair Corr
0.4	MPLX	MPLX LP	Pair Corr
0.38	EP-PC	El Paso Energy	Pair Corr
0.37	SEAL-PA	Seapeak LLC	Pair Corr

Related Correlations Analysis

	CEQP	WES	DTM	MPLX	HEP	BPT	FLNG	HESM	NS	ENLC
CEQP		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CEQP
WES	0.0		0.22	0.76	0.0	-0.29	0.55	0.85	0.0	-0.15	WES
DTM	0.0	0.22		-0.27	0.0	-0.16	0.62	-0.12	0.0	0.45	DTM
MPLX	0.0	0.76	-0.27		0.0	-0.25	0.24	0.91	0.0	-0.51	MPLX
HEP	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HEP
BPT	0.0	-0.29	-0.16	-0.25	0.0		-0.43	-0.4	0.0	-0.35	BPT
FLNG	0.0	0.55	0.62	0.24	0.0	-0.43		0.35	0.0	0.25	FLNG
HESM	0.0	0.85	-0.12	0.91	0.0	-0.4	0.35		0.0	-0.3	HESM
NS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NS
ENLC	0.0	-0.15	0.45	-0.51	0.0	-0.35	0.25	-0.3	0.0		ENLC
	CEQP	WES	DTM	MPLX	HEP	BPT	FLNG	HESM	NS	ENLC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

HESM	+ 0.91	MPLX
HESM	+ 0.85	WES
MPLX	+ 0.76	WES
FLNG	+ 0.62	DTM
FLNG	+ 0.55	WES
ENLC	+ 0.45	DTM

High negative correlations

ENLC	- 0.51	MPLX
FLNG	- 0.43	BPT
HESM	- 0.4	BPT
ENLC	- 0.35	BPT
ENLC	- 0.3	HESM
BPT	- 0.29	WES

Risk-Adjusted Indicators

There is a big difference between Viper Stock performing well and Viper Energy 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 Viper Energy'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
CEQP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WES	1.33	0.14	0.10	0.14	1.47	(1.43)	2.77	(2.50)	7.33
DTM	1.68	0.04	0.00	(0.02)	0.00	0.00	3.39	(2.29)	15.93
MPLX	1.12	0.22	0.19	0.25	1.11	(1.37)	2.48	(2.19)	5.75
HEP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BPT	4.50	0.02	0.00	(0.06)	0.00	0.00	8.70	(7.25)	55.36
FLNG	1.48	0.06	0.06	(1.05)	1.91	(1.60)	3.25	(3.95)	10.07
HESM	1.27	0.30	0.19	0.46	1.31	(1.26)	2.60	(2.51)	6.71
NS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENLC	1.09	(0.04)	0.00	(0.30)	0.00	0.00	1.99	(3.17)	6.59

Viper Energy Corporate Management

Matt Zmigrosky	General VP	Profile
Thomas Hawkins	Ex LLC	Profile
Adam Lawlis	IR Contact Officer	Profile
Al Barkmann	Executive LLC	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC