DT Midstream Correlations

DTM Stock

USD 119.68 1.14 0.94%

The current 90-days correlation between DT Midstream and Plains All American is 0.31 (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

Modest diversification

The correlation between DT Midstream and DJI is 0.27 (i.e., Modest 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 persons.

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

Moving together with DTM Stock

0.78	DLNG	Dynagas LNG Partners	Pair Corr
0.85	OKE	ONEOK Inc	Pair Corr
0.77	KNOP	KNOT Offshore Partners	Pair Corr
0.83	MPLX	MPLX LP	Pair Corr
0.74	0RMV	TechnipFMC PLC	Pair Corr
0.92	TRGP	Targa Resources	Pair Corr
0.71	KB	KB Financial Group	Pair Corr
0.73	WF	Woori Financial Group	Pair Corr
0.69	BCH	Banco De Chile	Pair Corr
0.62	CASXF	Casa Minerals	Pair Corr
0.83	ARVN	Arvinas	Pair Corr
0.87	FTV	Fortive Corp	Pair Corr
0.73	MGCV	MGC Ventures	Pair Corr
0.76	SYF	Synchrony Financial	Pair Corr
0.66	LCDX	Caliber Imaging Diag	Pair Corr
0.65	DB	Deutsche Bank AG	Pair Corr

Moving against DTM Stock

0.85	FNMFO	Federal National Mortgage	Pair Corr
0.66	LNG	Cheniere Energy	Pair Corr
0.35	NEXT	Nextdecade Corp	Pair Corr
0.34	GLP	Global Partners LP	Pair Corr
0.32	MMLP	Martin Midstream Partners	Pair Corr

Related Correlations Analysis

	PAA	VNOM	AM	DINO	AR	WES	HESM	OVV	NFG	RRC
PAA		0.68	-0.09	-0.52	0.71	0.88	0.81	0.58	-0.31	-0.09	PAA
VNOM	0.68		0.36	-0.51	0.72	0.55	0.78	0.69	0.07	0.01	VNOM
AM	-0.09	0.36		0.0	0.32	-0.08	0.06	0.53	0.85	0.5	AM
DINO	-0.52	-0.51	0.0		-0.18	-0.29	-0.51	-0.07	-0.06	0.58	DINO
AR	0.71	0.72	0.32	-0.18		0.75	0.59	0.87	-0.06	0.47	AR
WES	0.88	0.55	-0.08	-0.29	0.75		0.7	0.6	-0.37	0.15	WES
HESM	0.81	0.78	0.06	-0.51	0.59	0.7		0.5	-0.15	-0.18	HESM
OVV	0.58	0.69	0.53	-0.07	0.87	0.6	0.5		0.2	0.59	OVV
NFG	-0.31	0.07	0.85	-0.06	-0.06	-0.37	-0.15	0.2		0.27	NFG
RRC	-0.09	0.01	0.5	0.58	0.47	0.15	-0.18	0.59	0.27		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

WES	+ 0.88	PAA
OVV	+ 0.87	AR
NFG	+ 0.85	AM
HESM	+ 0.81	PAA
HESM	+ 0.78	VNOM
WES	+ 0.75	AR

High negative correlations

DINO	- 0.52	PAA
HESM	- 0.51	DINO
DINO	- 0.51	VNOM
NFG	- 0.37	WES
NFG	- 0.31	PAA
WES	- 0.29	DINO

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	0.75	0.07	0.04	0.27	0.83	(0.80)	1.84	(1.41)	4.09
VNOM	1.25	0.00	(0.01)	0.05	1.51	(1.33)	2.18	(2.32)	7.67
AM	0.89	(0.14)	0.00	(0.39)	0.00	0.00	1.74	(2.04)	4.88
DINO	1.39	(0.19)	0.00	(0.65)	0.00	0.00	3.46	(3.30)	7.95
AR	2.06	0.01	0.01	0.06	2.42	(2.26)	3.99	(4.65)	12.23
WES	0.89	0.06	0.02	0.27	1.04	(1.01)	2.05	(1.82)	4.94
HESM	0.91	0.00	(0.02)	0.05	1.31	(0.87)	1.77	(1.99)	4.65
OVV	1.60	(0.05)	0.00	(0.08)	0.00	0.00	3.64	(3.10)	8.88
NFG	0.89	(0.22)	0.00	(1.99)	0.00	0.00	1.63	(1.77)	6.62
RRC	1.82	(0.11)	0.00	(0.08)	0.00	0.00	3.46	(3.94)	11.26

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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