Energy Transfer Correlations

ETP Stock

USD 18.59 0.05 0.27%

The current 90-days correlation between Energy Transfer Partners and Ambow Education Holding is 0.02 (i.e., Significant diversification). 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

Very poor diversification

The correlation between Energy Transfer Partners and DJI is 0.83 (i.e., Very poor 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.

Build AI portfolio with Energy Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Energy Transfer Partners. 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.

Moving together with Energy Stock

0.68	AM	Antero Midstream Partners Earnings Call This Week	Pair Corr
0.9	EE	Excelerate Energy	Pair Corr
0.81	ET	Energy Transfer LP Earnings Call This Week	Pair Corr
0.73	SRR	Source Rock Royalties	Pair Corr
0.66	KEY	Keyera Corp Earnings Call Tomorrow	Pair Corr
0.63	P5P	Pembina Pipeline Corp	Pair Corr
0.85	CQP	Cheniere Energy Partners	Pair Corr
0.86	DKL	Delek Logistics Partners	Pair Corr
0.8	DTM	DT Midstream Earnings Call This Week	Pair Corr
0.77	EPD	Enterprise Products	Pair Corr
0.67	FRO	Frontline Sell-off Trend	Pair Corr
0.84	GEL	Genesis Energy LP Earnings Call Tomorrow	Pair Corr
0.7	GLP	Global Partners LP	Pair Corr
0.82	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.9	KYN	Kayne Anderson MLP	Pair Corr
0.77	LPG	Dorian LPG	Pair Corr
0.8	NAT	Nordic American Tankers	Pair Corr
0.73	NGL	NGL Energy Partners	Pair Corr
0.82	OKE	ONEOK Inc	Pair Corr
0.92	PAA	Plains All American	Pair Corr
0.73	PBA	Pembina Pipeline Corp	Pair Corr
0.79	SFL	SFL Corporation Earnings Call Today	Pair Corr
0.71	SMC	Summit Midstream	Pair Corr
0.76	SUN	Sunoco LP Earnings Call This Week	Pair Corr
0.66	TEN	Tsakos Energy Navigation	Pair Corr
0.89	GASS	StealthGas	Pair Corr

Moving against Energy Stock

0.37

SAK

Sinopec Kantons Holdings

Pair Corr

Related Correlations Analysis

	IDPUF	KGDEF	PMNXF	HUSIF	STRA	XTNT	UNHLF	AMBO
IDPUF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	IDPUF
KGDEF	0.0		-0.56	-0.75	-0.42	0.28	0.0	0.59	KGDEF
PMNXF	0.0	-0.56		0.66	0.81	-0.38	0.0	-0.64	PMNXF
HUSIF	0.0	-0.75	0.66		0.57	-0.29	0.0	-0.65	HUSIF
STRA	0.0	-0.42	0.81	0.57		-0.18	0.0	-0.66	STRA
XTNT	0.0	0.28	-0.38	-0.29	-0.18		0.0	-0.04	XTNT
UNHLF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	UNHLF
AMBO	0.0	0.59	-0.64	-0.65	-0.66	-0.04	0.0		AMBO
	IDPUF	KGDEF	PMNXF	HUSIF	STRA	XTNT	UNHLF	AMBO

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

STRA	+ 0.81	PMNXF
HUSIF	+ 0.66	PMNXF
AMBO	+ 0.59	KGDEF
STRA	+ 0.57	HUSIF
XTNT	+ 0.28	KGDEF
KGDEF	+ 0.0	IDPUF

High negative correlations

HUSIF	- 0.75	KGDEF
AMBO	- 0.66	STRA
AMBO	- 0.65	HUSIF
AMBO	- 0.64	PMNXF
PMNXF	- 0.56	KGDEF
STRA	- 0.42	KGDEF

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
IDPUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KGDEF	0.99	(0.60)	0.00	(0.60)	0.00	0.00	0.00	0.00	20.22
PMNXF	2.10	0.39	0.11	0.52	2.63	(2.77)	4.88	(3.99)	19.23
HUSIF	3.30	0.62	0.14	1.42	3.15	(4.85)	10.14	(6.45)	21.13
STRA	1.32	0.04	0.02	0.12	2.16	(1.26)	2.32	(3.50)	14.59
XTNT	2.86	(0.29)	0.00	0.73	0.00	0.00	5.41	(5.26)	19.92
UNHLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMBO	3.81	(0.34)	0.00	(0.85)	0.00	0.00	10.58	(8.49)	23.92

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