Williams Companies Correlations

WMB Stock

USD 59.60 0.15 0.25%

The current 90-days correlation between Williams Companies and Enterprise Products Partners is 0.59 (i.e., Very weak diversification). The correlation of Williams Companies 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.

Williams Companies Correlation With Market

Weak diversification

The correlation between Williams Companies 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 Williams Companies and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Williams Companies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade Williams Stock refer to our How to Trade Williams Stock guide.

Moving together with Williams Stock

0.74	AM	Antero Midstream Partners	Pair Corr
0.64	ENB	Enbridge	Pair Corr
0.72	EPD	Enterprise Products	Pair Corr
0.67	KMI	Kinder Morgan	Pair Corr
0.7	LNG	Cheniere Energy	Pair Corr
0.68	PAA	Plains All American	Pair Corr
0.76	WES	Western Midstream	Pair Corr
0.74	HESM	Hess Midstream Partners	Pair Corr

Moving against Williams Stock

0.33	BPT	BP Prudhoe Bay	Pair Corr
0.32	MMLP	Martin Midstream Partners	Pair Corr

Related Correlations Analysis

	EPD	OKE	ET	ENB	MMP	KMI	MPLX	PAA	CEQP
EPD		-0.14	0.27	0.65	0.0	0.21	0.92	0.95	0.0	EPD
OKE	-0.14		0.55	0.31	0.0	0.76	-0.37	-0.09	0.0	OKE
ET	0.27	0.55		0.59	0.0	0.57	0.17	0.42	0.0	ET
ENB	0.65	0.31	0.59		0.0	0.59	0.5	0.63	0.0	ENB
MMP	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MMP
KMI	0.21	0.76	0.57	0.59	0.0		-0.04	0.23	0.0	KMI
MPLX	0.92	-0.37	0.17	0.5	0.0	-0.04		0.87	0.0	MPLX
PAA	0.95	-0.09	0.42	0.63	0.0	0.23	0.87		0.0	PAA
CEQP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CEQP
	EPD	OKE	ET	ENB	MMP	KMI	MPLX	PAA	CEQP

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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

PAA	+ 0.95	EPD
MPLX	+ 0.92	EPD
PAA	+ 0.87	MPLX
KMI	+ 0.76	OKE
ENB	+ 0.65	EPD
PAA	+ 0.63	ENB

High negative correlations

MPLX	- 0.37	OKE
OKE	- 0.14	EPD
PAA	- 0.09	OKE
MPLX	- 0.04	KMI
CEQP	- 0.0	PAA
CEQP	- 0.0	MPLX

Risk-Adjusted Indicators

There is a big difference between Williams Stock performing well and Williams Companies 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 Williams Companies' 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
EPD	0.85	0.13	0.16	0.21	0.92	(0.95)	1.80	(1.43)	5.35
OKE	1.31	(0.01)	0.00	(0.08)	0.00	0.00	2.48	(3.24)	7.50
ET	1.40	0.04	0.03	(0.01)	1.87	(1.36)	3.08	(2.76)	9.12
ENB	0.91	0.13	0.12	0.16	1.24	(0.91)	1.80	(2.18)	5.69
MMP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KMI	1.19	0.11	0.07	0.19	2.07	(1.18)	2.62	(2.23)	12.28
MPLX	1.12	0.22	0.19	0.25	1.11	(1.37)	2.48	(2.19)	5.75
PAA	1.24	0.24	0.17	0.31	1.43	(1.34)	2.54	(2.69)	10.03
CEQP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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