ONEOK Correlations

0KCI Stock   99.85  1.61  1.64%   
The current 90-days correlation between ONEOK Inc and Fevertree Drinks Plc is -0.13 (i.e., Good diversification). The correlation of ONEOK 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.

ONEOK Correlation With Market

Average diversification

The correlation between ONEOK Inc and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ONEOK Inc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ONEOK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ONEOK when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ONEOK - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ONEOK Inc to buy it.

Moving together with ONEOK Stock

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  0.810LAI Summit MaterialsPairCorr
  0.91BGEO Bank of GeorgiaPairCorr
  0.71GST GSTechnologiesPairCorr
  0.80P5L Axway Software SAPairCorr
  0.820HPW Broadridge FinancialPairCorr
  0.840K2K Molson Coors BeveragePairCorr
  0.89SMDS DS Smith PLCPairCorr
  0.890HJI Automatic Data ProcessingPairCorr
  0.73III 3I Group PLCPairCorr
  0.84DEC Diversified EnergyPairCorr
  0.87HSBK Halyk BankPairCorr
  0.880HW4 Charter CommunicationsPairCorr
  0.69HSBA HSBC Holdings PLCPairCorr
  0.640R15 SoftBank Group CorpPairCorr
  0.72WISE Wise plcPairCorr
  0.66XLM XLMedia PLCPairCorr

Moving against ONEOK Stock

  0.77FOG Falcon Oil GasPairCorr
  0.74CLA CAP LEASE AVIATIONPairCorr
  0.67TLOU Tlou EnergyPairCorr
  0.31ECO Eco Oil GasPairCorr
  0.5RIO Rio Tinto PLCPairCorr
  0.42MARS Marstons PLCPairCorr

Related Correlations Analysis

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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   
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SYM0IRN
0IRNFGEN
0IRNFEVR
  
High negative correlations   
0O9QFGEN
PETSSBDS
0O9QPETS
0O9QFEVR
0O9Q0IRN
SBDSFGEN

Risk-Adjusted Indicators

There is a big difference between ONEOK Stock performing well and ONEOK 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 ONEOK'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in ONEOK without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Positions Ratings

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ONEOK Corporate Management

Elected by the shareholders, the ONEOK's board of directors comprises two types of representatives: ONEOK inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ONEOK. The board's role is to monitor ONEOK's management team and ensure that shareholders' interests are well served. ONEOK's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ONEOK's outside directors are responsible for providing unbiased perspectives on the board's policies.