Energy Transfer Correlations
| ETP Stock | USD 18.38 0.03 0.16% |
The correlation of Energy Transfer 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.
Energy Transfer Correlation With Market
Significant diversification
The correlation between Energy Transfer Partners and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Transfer Partners and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Energy Stock
| 0.68 | NAT | Nordic American Tankers | PairCorr |
| 0.69 | NGL | NGL Energy Partners | PairCorr |
| 0.67 | SMC | Summit Midstream | PairCorr |
| 0.61 | SUN | Sunoco LP | PairCorr |
| 0.79 | TGS | Transportadora de Gas | PairCorr |
Moving against Energy Stock
| 0.52 | AM | Antero Midstream Partners | PairCorr |
| 0.4 | ENB | Enbridge | PairCorr |
| 0.32 | KEY | Keyera Corp | PairCorr |
| 0.77 | LNG | Cheniere Energy | PairCorr |
| 0.63 | LPG | Dorian LPG | PairCorr |
| 0.58 | GLP | Global Partners LP | PairCorr |
| 0.48 | PBA | Pembina Pipeline Corp | PairCorr |
| 0.34 | KMI | Kinder Morgan Aggressive Push | PairCorr |
| 0.59 | UFG | Uni Fuels Holdings | PairCorr |
| 0.53 | KNTK | Kinetik Holdings | PairCorr |
| 0.52 | WMB | Williams Companies | PairCorr |
| 0.38 | GLNG | Golar LNG Limited | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 1.0 | TETEF | ||
| 0.0 | -0.29 | 0.59 | 0.0 | 0.0 | B | ||
| 0.0 | -0.29 | -0.26 | 0.0 | 0.0 | EGMMF | ||
| 0.0 | 0.59 | -0.26 | 0.0 | 0.0 | RCIAF | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | HTRC | ||
| 1.0 | 0.0 | 0.0 | 0.0 | 0.0 | NPNTQ | ||
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Energy Stock performing well and Energy Transfer 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 Energy Transfer'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TETEF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| B | 2.01 | 0.45 | 0.14 | 0.59 | 2.70 | 4.23 | 13.47 | |||
| EGMMF | 0.27 | (0.01) | 0.00 | 0.01 | 0.00 | 0.00 | 9.02 | |||
| RCIAF | 0.50 | 0.07 | 0.00 | 0.99 | 0.00 | 1.32 | 8.93 | |||
| HTRC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NPNTQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |