DT Midstream Correlations

DTM Stock

USD 137.17 0.74 0.54%

The current 90-days correlation between DT Midstream and Plains All American is 0.3 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DT Midstream moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DT Midstream moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

DT Midstream Correlation With Market

Poor diversification

The correlation between DT Midstream and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DT Midstream and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with DTM Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DT Midstream. 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.

To learn how to invest in DTM Stock, please use our How to Invest in DT Midstream guide.

Moving together with DTM Stock

0.93	AM	Antero Midstream Partners	Pair Corr
0.9	EE	Excelerate Energy Earnings Call Next Week	Pair Corr
0.86	ET	Energy Transfer LP Sell-off Trend	Pair Corr
0.76	TK	Teekay	Pair Corr
0.83	SRR	Source Rock Royalties	Pair Corr
0.66	AQ30	ALTAGAS LTD PRFG	Pair Corr
0.72	ENB	Enbridge	Pair Corr
0.86	G2O	Golar LNG Limited Earnings Call Tomorrow	Pair Corr
0.93	KEY	Keyera Corp	Pair Corr
0.75	EN3	Enbridge	Pair Corr
0.77	TPZ	Topaz Energy Corp	Pair Corr
0.87	P5P	Pembina Pipeline Corp Earnings Call This Week	Pair Corr
0.7	TK41	Tsakos Energy Navigation	Pair Corr
0.92	K2Y	Keyera Corp	Pair Corr
0.67	ASC	Ardmore Shpng	Pair Corr
0.92	CQP	Cheniere Energy Partners	Pair Corr
0.79	OCW	Euronav NV Earnings Call This Week	Pair Corr
0.83	DHT	DHT Holdings	Pair Corr
0.92	DKL	Delek Logistics Partners Earnings Call This Week	Pair Corr
0.87	ENB	Enbridge	Pair Corr
0.94	EPD	Enterprise Products	Pair Corr
0.89	ETP	Energy Transfer Partners	Pair Corr
0.82	FRO	Frontline Earnings Call This Week	Pair Corr
0.86	GEL	Genesis Energy LP	Pair Corr
0.89	GLP	Global Partners LP Earnings Call This Week	Pair Corr
0.95	KMI	Kinder Morgan Sell-off Trend	Pair Corr
0.94	KYN	Kayne Anderson MLP	Pair Corr
0.69	LNG	Cheniere Energy	Pair Corr
0.87	LPG	Dorian LPG	Pair Corr
0.81	NAT	Nordic American Tankers	Pair Corr
0.88	NGL	NGL Energy Partners	Pair Corr
0.95	OKE	ONEOK Inc Downward Rally	Pair Corr
0.89	PAA	Plains All American	Pair Corr
0.92	PBA	Pembina Pipeline Corp	Pair Corr

Related Correlations Analysis

	PAA	VNOM	AM	DINO	AR	WES	HESM	OVV	NFG	RRC
PAA		0.8	0.83	0.39	-0.17	0.91	0.91	0.84	0.82	-0.05	PAA
VNOM	0.8		0.9	0.45	0.32	0.7	0.92	0.91	0.92	0.27	VNOM
AM	0.83	0.9		0.57	0.19	0.79	0.9	0.93	0.93	0.35	AM
DINO	0.39	0.45	0.57		0.06	0.55	0.34	0.59	0.49	0.41	DINO
AR	-0.17	0.32	0.19	0.06		-0.25	0.06	0.24	0.24	0.73	AR
WES	0.91	0.7	0.79	0.55	-0.25		0.82	0.77	0.71	-0.09	WES
HESM	0.91	0.92	0.9	0.34	0.06	0.82		0.89	0.9	0.06	HESM
OVV	0.84	0.91	0.93	0.59	0.24	0.77	0.89		0.92	0.4	OVV
NFG	0.82	0.92	0.93	0.49	0.24	0.71	0.9	0.92		0.34	NFG
RRC	-0.05	0.27	0.35	0.41	0.73	-0.09	0.06	0.4	0.34		RRC
	PAA	VNOM	AM	DINO	AR	WES	HESM	OVV	NFG	RRC

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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

OVV	+ 0.93	AM
NFG	+ 0.93	AM
HESM	+ 0.92	VNOM
NFG	+ 0.92	VNOM
NFG	+ 0.92	OVV
WES	+ 0.91	PAA

High negative correlations

WES	- 0.25	AR
AR	- 0.17	PAA
RRC	- 0.09	WES
RRC	- 0.05	PAA

Risk-Adjusted Indicators

There is a big difference between DTM Stock performing well and DT Midstream 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 DT Midstream'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
PAA	0.72	0.35	0.28	(9.84)	0.53	(0.89)	1.82	(1.23)	5.15
VNOM	1.27	0.31	0.16	1.83	1.37	(1.45)	2.90	(2.32)	10.04
AM	0.91	0.33	0.17	(1.78)	0.97	(0.98)	2.51	(2.01)	5.56
DINO	1.67	(0.16)	0.00	(0.18)	0.00	0.00	4.03	(2.86)	16.20
AR	2.11	0.03	(0.01)	0.19	2.79	(2.04)	3.73	(4.33)	12.45
WES	0.85	0.11	0.04	0.83	1.23	(0.92)	2.07	(1.76)	8.23
HESM	0.90	0.25	0.18	1.25	0.80	(1.00)	2.29	(1.63)	5.02
OVV	1.85	0.44	0.18	1.38	1.85	(2.19)	4.13	(3.83)	8.85
NFG	0.85	0.12	0.07	0.65	0.90	(0.94)	1.88	(1.53)	5.52
RRC	1.72	0.03	(0.01)	0.72	2.36	(1.62)	3.16	(3.01)	11.21

DT Midstream Corporate Management

Richard Redmond	Executive Vice President Chief Administrative Officer	Profile
Dwayne Wilson	Independent Director	Profile
Robert Skaggs	Executive Chairman of the Board	Profile
Wright Lassiter	Lead Independent Director	Profile
Stephen Baker	Independent Director	Profile
Joseph Finland	Chief Officer	Profile

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