EQT Correlations

EQT Stock

USD 46.89 0.35 0.75%

The current 90-days correlation between EQT Corporation and Southwestern Energy is 0.08 (i.e., Significant diversification). The correlation of EQT 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.

EQT Correlation With Market

Very weak diversification

The correlation between EQT Corp. and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EQT Corp. and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EQT Corporation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with EQT Stock

0.86	AR	Antero Resources Corp	Pair Corr
0.64	EP	Empire Petroleum Corp	Pair Corr
0.74	PR	Permian Resources Aggressive Push	Pair Corr
0.85	DMLP	Dorchester Minerals	Pair Corr
0.62	EPSN	Epsilon Energy	Pair Corr
0.8	BSM	Black Stone Minerals	Pair Corr
0.91	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.89	CRC	California Resources Corp	Pair Corr
0.95	CRK	Comstock Resources	Pair Corr
0.77	DEC	Diversified Energy	Pair Corr
0.72	EOG	EOG Resources	Pair Corr
0.74	EPM	Evolution Petroleum	Pair Corr
0.95	EXE	Expand Energy Symbol Change	Pair Corr
0.81	HES	Hess	Pair Corr
0.73	KRP	Kimbell Royalty Partners	Pair Corr
0.81	MGY	Magnolia Oil Gas	Pair Corr

Moving against EQT Stock

0.83	BRN	Barnwell Industries	Pair Corr
0.81	BRY	Berry Petroleum Corp	Pair Corr
0.64	APA	APA Corporation	Pair Corr
0.47	EONR	EON Resources Symbol Change	Pair Corr
0.44	BTE	Baytex Energy Corp Aggressive Push	Pair Corr
0.4	SD	SandRidge Energy	Pair Corr
0.4	CKX	CKX Lands	Pair Corr
0.55	DVN	Devon Energy	Pair Corr
0.45	EGY	Vaalco Energy	Pair Corr
0.36	GTE	Gran Tierra Energy	Pair Corr
0.53	REI	Ring Energy	Pair Corr
0.52	MUR	Murphy Oil Fiscal Year End 23rd of January 2025	Pair Corr
0.49	KOS	Kosmos Energy	Pair Corr
0.47	MNR	Mach Natural Resources	Pair Corr
0.46	OXY	Occidental Petroleum	Pair Corr
0.44	OBE	Obsidian Energy	Pair Corr

Related Correlations Analysis

	SWN	AR	CHK	MTDR	PXD	DVN	FANG	COP	RRC	PR
SWN		0.08	0.94	0.55	0.56	0.29	0.23	0.41	0.03	0.33	SWN
AR	0.08		-0.04	0.58	0.25	-0.24	0.14	0.55	0.95	0.81	AR
CHK	0.94	-0.04		0.52	0.61	0.36	0.23	0.38	-0.09	0.23	CHK
MTDR	0.55	0.58	0.52		0.67	0.29	0.58	0.87	0.63	0.89	MTDR
PXD	0.56	0.25	0.61	0.67		0.32	0.36	0.48	0.25	0.45	PXD
DVN	0.29	-0.24	0.36	0.29	0.32		0.83	0.38	-0.35	0.08	DVN
FANG	0.23	0.14	0.23	0.58	0.36	0.83		0.64	0.1	0.49	FANG
COP	0.41	0.55	0.38	0.87	0.48	0.38	0.64		0.57	0.82	COP
RRC	0.03	0.95	-0.09	0.63	0.25	-0.35	0.1	0.57		0.84	RRC
PR	0.33	0.81	0.23	0.89	0.45	0.08	0.49	0.82	0.84		PR
	SWN	AR	CHK	MTDR	PXD	DVN	FANG	COP	RRC	PR

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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

RRC	+ 0.95	AR
CHK	+ 0.94	SWN
PR	+ 0.89	MTDR
COP	+ 0.87	MTDR
PR	+ 0.84	RRC
FANG	+ 0.83	DVN

High negative correlations

RRC	- 0.35	DVN
DVN	- 0.24	AR
RRC	- 0.09	CHK
CHK	- 0.04	AR

Risk-Adjusted Indicators

There is a big difference between EQT Stock performing well and EQT 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 EQT'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
SWN	1.27	0.08	0.00	1.46	1.50	(1.37)	2.82	(2.32)	6.63
AR	1.91	0.15	0.07	0.20	2.20	(2.00)	4.91	(3.20)	13.54
CHK	1.21	0.02	(0.06)	0.00	1.47	(1.29)	2.63	(2.45)	5.88
MTDR	1.76	0.01	0.01	0.10	2.35	(1.73)	3.24	(3.39)	10.18
PXD	1.23	(0.06)	0.00	(0.14)	0.00	0.00	2.43	(2.71)	6.32
DVN	1.26	(0.25)	0.00	(0.28)	0.00	0.00	2.17	(2.95)	7.21
FANG	1.63	(0.11)	0.00	(0.06)	0.00	0.00	3.00	(3.91)	9.60
COP	1.24	0.01	(0.01)	0.11	1.51	(1.35)	2.59	(3.24)	7.92
RRC	1.44	0.14	0.08	0.24	1.46	(1.65)	3.64	(2.66)	8.94
PR	1.59	0.06	0.03	0.14	1.90	(1.75)	2.70	(3.33)	7.95

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